CLS Holdings USA, Inc. Provides Update on Reverse Stock Split (Share Consolidation) and Announces CSE Delisting
On April 16, 2025, the Board of Directors of the Company voted unanimously to approve the Consolidation. Following receipt of Stockholder approval for the Consolidation, the Board of Directors has determined that the effective date of the Consolidation will be the close of business on July 11, 2025 (the " Effective Date").
The Company will not issue fractional shares resulting from the Consolidation. Instead, the Company will pay Stockholders of record as of the Effective Date who would have received a fractional share as a result of the Consolidation a cash payment equal to three-point-seven cents ($0.037) per pre-Consolidation Share. Stockholders must hold their Shares on the Effective Date in order to receive a cash payment. No action is required by Stockholders in order to receive the cash payment.
In connection with the Consolidation, CLS has applied to voluntarily delist its Shares from the Canadian Securities Exchange (" CSE"). The Shares are expected to be delisted from the CSE on the close of business on the Effective Date. CLS intends to apply to cease to be a reporting issuer in Canada using the "simplified procedure" under Canadian National Policy 11-206 - Process for Cease to be a Reporting Issuer Applications shortly as soon as practicable after it is delisted from the CSE.
Stockholders who have questions regarding the Consolidation and receipt of their cash payment should refer to the Proxy Statement or contact the Company at:
Andrew Glashow
(888) 260-7775
Aglashow@clsholdingsinc.com
About CLS Holdings USA Inc.
CLS Holdings USA Inc. is a diversified cannabis company that acts as an integrated cannabis producer and retailer. CLS stands for "Cannabis Life Sciences," in recognition of the Company's patented proprietary 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.
Forward-Looking Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995 (collectively, the "forward-looking statements"). These statements relate to, among other things, the timing and effective date of the Consolidation, the payment of cash payments for Stockholders that would otherwise be entitled to receive fractional Shares, CLS's delisting from the CSE, and CLS's application to cease to be a reporting issuer in Canada. In some cases, you can identify forward looking statements by terminology such as "may," "might," "will," "should," "intends," "expects," "plans," "goals," "projects," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these terms or other comparable terminology. These forward-looking statements are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. We cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered together with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances or to reflect the occurrence of unanticipated events. See the Company's filings with the SEC and on its SEDAR+ profile at www.sedarplus.ca for additional details.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
32 minutes ago
- Globe and Mail
President Donald Trump Delivers Huge News for Stock Market Investors
The president announced tariffs on a larger group of trading partners, reigniting a trade war that looked to be on pause for several months. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » *Stock prices used were the afternoon prices of July 8, 2025. The video was published on July 10, 2025. Should you invest $1,000 in Invesco QQQ Trust right now? Before you buy stock in Invesco QQQ Trust, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Invesco QQQ Trust wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,432!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,005,854!* Now, it's worth noting Stock Advisor 's total average return is1,049% — a market-crushing outperformance compared to180%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 7, 2025 Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
Globe and Mail
an hour ago
- Globe and Mail
3 Millionaire-Maker Quantum Computing Stocks
Key Points Alphabet and Microsoft have vast resources to invest in quantum computing. IonQ's approach to quantum computing is unique. 10 stocks we like better than IonQ › Quantum computing is one of the hottest trends in the market. It's an innovative technology that's starting to gain wider adoption, but we're still a few years away from widespread commercial use. The trick with quantum computing investing is to get into the leaders before they take off, but not so early that the stocks are essentially dead money until the quantum computing arms race picks up steam. It's impossible to predict when that will occur, but I still believe some viable quantum computing investments will reward shareholders over the long term if they invest in them now. These are mostly big tech companies that are investing in quantum computing, but I also have one pure-play company that I'm keeping an eye on. Alphabet Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) kicked off the quantum computing arms race in December 2024 with the announcement of its Willow quantum computing chip. The chip completed a task in five minutes that would have taken the world's most powerful supercomputer 10 septillion years (10 to the 25th power) to accomplish. This test was rigged to demonstrate how a quantum computer operates, but what was significant was how accurately it did so. The Willow chip achieved a 99.8% two-qubit gate fidelity, a measure of the accuracy of the calculation. This is a significant aspect of quantum computing, as it involves inherent errors in calculations due to the way quantum computers operate. Instead of using bits like a traditional computer, which transmits information as a 0 or a 1, quantum computers use qubits, which can be better described as the probability of an answer being a 0 or a 1. This makes quantum computers excellent for computing tasks that don't have a discrete answer, and incredibly useful for solving problems that can take multiple paths to a final answer, such as weather modeling, logistics networks, and AI. Alphabet is a leader in the quantum computing arms race and has the excess cash flows to invest a massive amount in this technology if it feels that it's worth it. This makes Alphabet a key player in this space, and it's a stock that I like for the long term. Microsoft Alphabet isn't the only big tech company competing in the quantum computing arms race. Microsoft (NASDAQ: MSFT) also has significant investments in quantum computing and is pursuing the industry for a similar reason as Alphabet: to ensure it has the best computing technology available for its own use and for its cloud computing clients to harness. Microsoft claims to have created a new state of matter in its Majorana 1 quantum computing chip that allows it to control the qubits precisely. This makes the calculation incredibly accurate, once again addressing the key problem with quantum computers currently. Microsoft has similar advantages to Alphabet, and its presence in the quantum computing space should not be overlooked. IonQ IonQ (NYSE: IONQ) is a pure-play quantum computing company. There's no backup plan for IonQ; it's quantum computing relevancy or bust. However, IonQ has partnerships with the U.S. Air Force Research Lab (one of the leading government labs), and it has taken an approach that no other company has. IonQ employs a trapped-ion approach and utilizes all-to-all connectivity. It is generally accepted that qubits become more accurate when they're allowed to interact with each other. While many companies have taken the approach to allow qubits to interact with their neighbors in a grid-like system, IonQ has taken it a step further by allowing every qubit to interact with each other. This approach has delivered an industry-leading 99.9% two-qubit gate fidelity to IonQ.\ Additionally, nearly every other quantum computing competitor needs to cool down its chips to near absolute zero, an incredibly expensive process. However, IonQ's technology operates at room temperature, which could be a key advantage for wide-scale deployment. Although IonQ is still a long way from generating meaningful revenue, I appreciate its approach and current technology, and I believe it's a great way to invest in a pure-play quantum computing company. However, it is an incredibly risky play, and the stock could go to zero if it fails. As a result, investors need to keep their position sizing relatively small. Should you invest $1,000 in IonQ right now? Before you buy stock in IonQ, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and IonQ wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,432!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,005,854!* Now, it's worth noting Stock Advisor 's total average return is1,049% — a market-crushing outperformance compared to180%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 7, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Keithen Drury has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
Globe and Mail
an hour ago
- Globe and Mail
UnitedHealth: Down 50%, Is the Dividend Still Safe?
UnitedHealth Group (NYSE: UNH) faces a series of unprecedented challenges, from leadership crises to federal investigations, leading to a significant stock decline. Is this the end of its dominance? *Stock prices used were the market prices of July 8, 2025. The video was published on July 12, 2025. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Should you invest $1,000 in UnitedHealth Group right now? Before you buy stock in UnitedHealth Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and UnitedHealth Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $671,477!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,010,880!* Now, it's worth noting Stock Advisor 's total average return is1,047% — a market-crushing outperformance compared to180%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 7, 2025 Rick Orford has positions in UnitedHealth Group. The Motley Fool recommends UnitedHealth Group. The Motley Fool has a disclosure policy.
