LAS VEGAS, NV / ACCESSWIRE / November 4, 2019 / PRESS RELEASE - CLS Holdings USA, Inc., a diversified cannabis company operating as Cannabis Life Sciences, has announced that “In Good Health”, a licensed medical dispensary, will commence the sale of recreational cannabis (also known as “adult sales”) on Nov. 5, 2019 from its current retail location in Brockton, Mass.
Started in September 2015, In Good Health, or IGH, operates a large medical cannabis dispensary business serving over 25,000 registered patients, maintains a 20,000-square-foot cultivation operation with capacity to produce 10,000 pounds of finished flower per year, and operates a conversion and extraction facility along with a kitchen. IGH has developed a high-quality branded products division from its headquarters in Brockton, Mass. The fully complete and operational 52,000-square-foot facility will be capable of generating $70 million of revenue and gross profit margins of 60 percent.
Located 25 miles south of Boston, IGH’s closest competitor is 23 miles away. In addition, IGH has 80 dedicated customer parking spaces. With a population of 425,000 people located within a 20-mile radius of its dispensary, IGH is zoned to operate 7 days a week from 8 a.m. to 8 p.m.
Jeff Binder, chairman and CEO, commented, “This is tremendous news and we couldn’t be happier for everyone on the In Good Health team as they look forward to this momentous occasion. We know that a lot of hard work and long hours went into garnering this highly sought after adult use cannabis license. Further, we know IGH feels immense pride being one of only 30 dispensaries in the entire State to achieve this status. Based on the close relationship we have developed with the In Good Health group, I know that this will be an adult -se cannabis establishment that the Brockton community at large and their civic leaders will be proud to have in their city.”
Andrew Glashow, president and COO, commented, “We have found David Noble and his team to be professionals committed to achieving excellence. The facility in Brockton is outstanding and we look forward to sharing the knowledge we have gained from operating a profitable rapidly growing operation in Las Vegas, NV. We see many similarities in the Massachusetts and Nevada market and are eager to apply our operational learnings to this already well oiled machine at In Good Health.”
David Noble, president of In Good Health commented, “We have been looking forward to this major milestone for quite some time and on behalf of all our valued employees, I want to let everyone in the community know that we are ready to serve our adult use community. In addition to expanding floor space and checkout infrastructure, allowing us to comfortably service as many as 2,000 customers per day, we have added 35 full time employees to our team. Most importantly, our recently added cultivation space allows us produce up to 10,000 pounds of finished cannabis flower annually, ensuring that no matter how busy we get, we will be able to keep our shelves fully stocked with one of the best selections of products in the state.
Over the past five years, we have built one of the largest medical use cannabis dispensaries in the state. We have accomplished this by providing world class service along with one of the widest selections of top quality in-house and popular branded products. Now that we are opening our doors to recreational cannabis sales, we plan to build a much larger loyal customer base and become one of, if not the largest recreational use dispensaries in the state - possibly even the Country. If you live in the area or are planning to visit the Boston/Brockton area in the future, please come in and see our store and try out the In Good Health buying experience for yourself.”
The planned purchase of In Good Health fits with the company’s stated goal of becoming a multi-state-operator (MSO) adding the vertically integrated business of In Good Health to the company’s “seed to sale” integrated Nevada business (dispensaries, cultivation and branded products), consisting of the Company’s 100-percent owned Oasis dispensary just off the Las Vegas strip, and its City Trees line of THC/CBD and bulk flower products.