NEW YORK, August 7, 2018 /PRNewswire/ --

According to a research report provided by Marijuana Business Daily, cannabis retail sales continue to grow year-over-year as new markets appear and more states legalize medical and recreational cannabis products. Sales in 2018 are expected to increase by approximately 50% when compared to 2017. Sales value is also on track to reach USD 8 Billion - USD 10 Billion by the end of this year. Furthermore, the report indicates that by 2022, annual retail cannabis sales in the United States could surpass the USD 20 Billion mark, representing a 200% increase from 2017. Legal cannabis markets currently grow in major states such as California, Nevada, Colorado and Washington amongst others. CLS Holdings USA Inc. CLSH, Cronos Group Inc. CRON, Aurora Cannabis Inc. ACBFF, AXIM® Biotechnologies Inc. AXIM, Kush Bottles Inc. KSHB

Recent developments in the state of New York indicates that it might be the next state to look towards legalization. According to Forbes, the administration of New York Gov. Andrew Cuomo has released a state Health Department report on Friday that says the positive effects of legalization outweigh the potential negative impacts. "Regulation of marijuana benefits public health by enabling government oversight of the production, testing, labeling, distribution, and sale of marijuana. The creation of a regulated marijuana program would enable NYS to better control licensing, ensure quality control and consumer protection, and set age and quantity restrictions," the report states.

CLS Holdings USA Inc. CLSH a diversified cannabis company operating as Cannabis Life Sciences and an integrated cannabis producer and retailer in Nevada through its Oasis Cannabis subsidiary, today announced breaking news that, "the closing of a $3 million equity investment from Navy Capital Green International, Ltd., a cannabis-focused institutional fund based in New York City. Under the terms of the agreement, Navy Capital and or select others may invest an additional $2 million, with a 15% overallotment, for a total of up to $5,750,000.00 by August 15, 2018.

Navy Capital has a vast network of relationships in the cannabis industry and is extremely interested in the CLS patented extraction and processing technology.

CLS now has all the funds in place to complete its build out of its Las Vegas cultivation and production facility. In addition, CLS will utilize a portion of the proceeds to update its existing Oasis Cannabis dispensary location and improve its signage.

John Kaden, Managing Partner and Chief Investment Officer of Navy Capital, stated, "We believe CLS Holdings possesses the premier vertically integrated cannabis business in Nevada and when combined with the company's opportunities in other major U.S. states and its cutting-edge scientific developments, we expect that CLS quickly will establish itself as one of the top companies in the emerging U.S. cannabis market."

Jeff Binder, Chief Executive Officer of CLS, commented, "We look forward to the added value that Navy Capital brings to CLS. It is a terrific corporate development to have an additional partner, of Navy Capital's stature, and we are excited by the expertise they bring to CLS."

About Navy Capital - Navy Capital's research-oriented, fundamentally-driven investment process focuses on identifying attractive opportunities within the legal cannabis space. Navy Capital seeks to find the best in class businesses within key verticals of the global cannabis industry. Those verticals include Consumer, Healthcare, Technology, Industrials, and Agriculture. Navy Capital invests in 20-30 publicly traded and select private companies that will gain market share over time in their respective verticals. Businesses that have recurring revenue and management teams that have a large share of their net worth in the company and are deeply passionate about their culture and customers are the most attractive to it. For additional information, please visit: https://www.navycapital.com

About Oasis Cannabis (http://oasiscannabis.com) - Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top marijuana retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas in combination with its delivery service to residents allows it to efficiently serve both locals and tourists in the Las Vegas area. The company recently commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products in August 2017. An expansion of its cultivation and production facility is currently underway and is expected to be completed during the fourth quarter of 2018."

About CLS Holdings USA, Inc. - CLS Holdings USA, Inc. is a diversified cannabis company that, subject to receipt of certain anticipated license approvals, acts as an integrated cannabis producer and retailer through its Oasis Cannabis subsidiary in Nevada, and plans to expand to other states. CLS stands for "Cannabis Life Sciences," in recognition of the Company's patented method of extracting various cannabinoids from the marijuana plant and converting them into products with a higher level of quality and consistency. The Company's business model includes licensing operations, processing operations, processing facilities, sale of products, brand creation and consulting services. For additional information, please visit: http://www.clsholdingsinc.com Twitter: @CLSHusa".

Cronos Group Inc. CRON is a globally diversified and vertically integrated cannabis company with a presence across four continents. Cronos recently announced that it has entered into a joint venture partnership with a group of investors led by Bert Mucci, one of Canada's most sophisticated greenhouse operators and builders. This partnership will function through a newly formed entity, Cronos Growing Company Inc., which will develop, construct and operate a state-of-the-art purpose-built greenhouse for cannabis production in Kingsville, Ontario. Cronos Group expects that once the Facility is fully operational and licensed, the Facility will produce approximately 70,000 kilograms of cannabis per annum for Cronos GrowCo. The state-of-the-art Facility has been designed to optimize cutting-edge greenhouse technology and Cronos Group's best practices in cannabis cultivation coupled with the latest in efficient environment control technologies. This is expected to provide ideal and consistent environmental conditions for cannabis cultivation in an energy efficient manner. The Facility is also designed to meet GAP and GMP requirements and standards for cultivation, extraction and manufacturing activities.

Aurora Cannabis Inc. ACBFF, headquartered in Edmonton, Alberta, with funded capacity in excess of 570,000 kg per year and sales and operations in 14 countries across five continents, is one of the world's largest and leading cannabis companies. Aurora recently announced that it has obtained a Health Canada Dealer's License under the Controlled Drugs and Substances Act for its EU GMP certified Aurora Mountain facility in Alberta. The new license will allow Aurora additional opportunities to produce, assemble, and sell cannabis oils and future novel, derivative products from Aurora Mountain, Furthermore, the license provides additional opportunities to transport cannabis products for import from and export to international markets, subject to applicable regulations. A dealer's license is also critical for expanding research and development capacity as it provides the potential for working with cannabinoids and their derivatives not covered under an ACMPR license. This will enable Aurora and its subsidiaries to drive innovation in the form of marketable intellectual property, and new value-added products. "Aurora Mountain is our third facility to be granted a Dealer's License by Health Canada, and this milestone is fundamental to bolstering our supply chain across Canada and around the world," said Terry Booth, Chief Executive Officer of Aurora. "Being able to more freely transport and export cannabis oils, derivatives and concentrates allows us to develop new products that respond to market demand in a variety of regulatory frameworks in different countries."

AXIM® Biotechnologies Inc. AXIM focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. The Company recently announced that the United States Patent and Trademark Office has issued a Notice of Allowance for U.S. Application Serial Number 15/146,668, a patent on a methodology developed by the Company for extraction and purification of the cannabinoid molecule delta-9-tetrahydrocannabinol, most commonly known as THC. A Notice of Allowance is issued after the USPTO makes a determination that a patent can be granted from AXIM's patent application, filed in May 2015. "This patent allowance is uniquely significant as cannabinoid research companies across the world have an important need for purified cannabinoid molecules, especially THC, and we were able to develop this highly efficient and effective process that renders a pharmaceutical-quality product," said George E. Anastassov, MD, DDS, MBA and Chief Executive Officer of AXIM®Biotech. "In our industry, it is not only research and trials that enable companies to bring medications to market, but a consistent supply of pure molecules is necessary to achieve FDA compliance. Our now patented process is the first of its kind and will position AXIM even further as a world leader in cannabinoid pharmaceuticals, pushing ahead our MedChew® RX program as well as working to expand the process to other cannabinoid molecules across our pipeline."

Kush Bottles Inc. KSHB is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry including CBD manufacturers. Recently, the Company announced that it has launched three new child-resistant product lines, including three proprietary packaging lines, as the Company continues to expand its product offering to include more variety and offer cannabis industry vendors more customizable, compliant packaging options. As part of the new product line announcement, Kush Bottles is also now a premier distributor of LocTin™ by Compliant Packaging. These new proprietary packaging lines represent the first major products developed by the newly formed Koleto Packaging Solutions. Launched earlier this summer, Koleto Packaging Solutions is an FDA-compliant packaging solution business unit focused on building proprietary intellectual property and designing unique products for both cannabis and non-cannabis industries.

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