On July 24, 2018, CLS Holdings USA, Inc. and Mr. David Lamadrid, its President and Chief Financial Officer, mutually agreed to terminate the employment agreement dated December 1, 2017 between CLS and Mr. Lamadrid effective July 13, 2018. Mr. Lamadrid resigned as President and Chief Financial Officer effective as of July 13, 2018. On July 27, 2018, CLS announced the appointment of Frank J. Tarantino as its Chief Financial Officer, effective August 1, 2018.

Mr. Tarantino was appointed to serve as Chief Financial Officer commencing on August 1, 2018. He has more than 10 years of executive management experience in private companies. Mr. Tarantino was the Controller and Acting CFO of Ira Green Holdings, Inc., a manufacturer, distributor and retailer of insignia and tactical products to all branches of the U.S. military, during 2017.

Between 2015 and 2016, Mr. Tarantino served as the CFO at Duto Textiles. From 2008 until 2015, Mr. Tarantino was COO/CFO of Wild Things, LLC.