Cannabis retail sales in Massachusetts are expected to grow to an estimated US$1.35 billion by 2024
Toronto, Ontario--(Newsfile Corp. - September 7, 2021) - SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, announced today that its best-selling, premium vape product line, O.pen Daily Strains and Live Resin, as well as popular edibles brand District Edibles, will be available in Massachusetts, exclusively with Trulieve Cannabis Corp. ("Trulieve"), a leading and top-performing cannabis company based in the United States.
Chris Driessen, CEO of SLANG said, "Massachusetts is the first eastern U.S. state to legalize both medical and adult-use cannabis and we are proud to enter this market in partnership with Trulieve. We value their industry leadership and our existing relationship in Florida, which we look forward to continuing in the Massachusetts market. This market will also increase our total points of distribution, Gross Merchandise Value and drive continued brand performance on the east coast."
SLANG has a strategic partnership with Trulieve Cannabis Corp. ("Trulieve") to supply branded products to this market. SLANG will also provide sales consulting services and will receive royalty payments for each branded product sold in the state. This is the second market in which SLANG and Trulieve will partner, building on the success that both companies have enjoyed in the Florida market. Massachusetts will mark the first time that both companies will partner on wholesale initiatives, which is a SLANG core competency.
Initial product offerings in Massachusetts include O.pen Daily Strains, a selection of popular strains designed to offer consistent and repeatable effects with elevated THC potencies, which are now available in Trulieve's Northampton and Worcester, MA locations. It will be followed by District Edibles, which offers cannabis-infused sweet and sour gummies that are individually sealed and in a convenient, no melt container. Priced as one of the more affordable options on the market, sweet flavors include Cherry Cola, Tropical Punch, Strawberry, Orange, Blue Raspberry, and Watermelon and sour flavors include Apple, Lime, and Peach.
"We are thrilled to expand upon our successful partnership with SLANG as we grow in Massachusetts," said Kim Rivers, CEO of Trulieve. "As the exclusive source of SLANG's nationally recognized, trusted and beloved brands, Trulieve continues to deliver on our promise to Massachusetts cannabis consumers, providing a wide variety of the highest-quality products available in the market today."
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About SLANG Worldwide Inc.
SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. The Company specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. For more information, please visit www.slangww.com.
This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements included in this news release include, but are not limited to, statements in respect of the Company's expected performance in Q1 2021, the distribution of the Company's branded products in emerging markets, the proposed acquisition of ACG and ongoing consolidation of its supply chain in core markets and the impact thereof.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's annual information form dated April 13, 2021and "Risks and Uncertainties" in the 2020 MD&A and other disclosure document available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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