On June 24, 2025, at a Special Meeting of the Shareholders, CLS Holdings USA, Inc.’s (the “Company”) shareholders voted to approve a 4,000,000 to 1 reverse stock split of the Company’s issued and outstanding shares. The Company will pay three point seven cents ($0.037) per pre-split share to any shareholder holding a fractional share as a result of the reverse stock split.

Immediately following the shareholder approval of the reverse stock split, the Company deposited all of the funds necessary to pay the shareholders with Odyssey Trust Company (“Odyssey”), a third-party entity acting as the Paying Agent. Odyssey, in turn, issued checks to shareholders holding their shares in their personal accounts and was awaiting further authorization to disburse the remaining funds to Cede & Co., the entity holding the remaining shares in brokerage accounts. As of June 25, 2025, the Company had met its depository obligation to fully fund the payment to shareholders and Odyssey was awaiting further regulatory authority before making the final payments.

As of today, Fifty-Two (52) payments have now been made to shareholders who hold their shares directly. For those whose shares are held at Cede & Co in brokerage accounts, the Financial Industry Regulatory Authority (FINRA) undertakes a review of the transaction before it will allow for the disbursement of funds to shareholders from brokerage accounts.

FINRA announced the Company’s reverse stock split on August 29, 2025 thereby clearing the way for the disbursement of funds to all remaining shareholders entitled to payment. On September 2, 2025, the Company’s paying agent will transmit to Cede & Co. the funds required to pay cash in lieu of issuing fractional shares to brokers on behalf of beneficial owners. We expect Cede & Co. to begin making payments to brokers on September 2nd or 3rd, 2025.

If you hold your Company shares through a broker, we encourage you to contact your broker at the end of next week to obtain details about when you should expect your payment from your broker and to confirm that your broker has your up-to-date payment instructions.

Please contact the Company’s counsel, Shelley Detwiller DiGiacomo, at sdd@eblawyers.com or (602) 222-4991 with any questions or concerns you may have.