Toronto, Ontario--(Newsfile Corp. - May 24, 2022) - SLANG Worldwide Inc. (CNSX: 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 it has launched its best-selling, premium vape product line, O.pen Daily Strains and O.pen 2.0 batteries on May 16th in Maryland through a strategic partnership with Trulieve Cannabis Corp. ("Trulieve"), a leading and top-performing cannabis company in the United States.
Drew McManigle, Interim CEO of SLANG, said, "We are strategically entering the Maryland market right before adult-use goes on the ballot in November 2022 and as the state's legal medical market continues to scale. Trulieve has been a key partner of ours in other markets for over 3 years and their leadership position in the cannabis industry has been integral in positioning our leading brands at the forefront of each market we jointly enter. Our timely entry in the Maryland cannabis market will effectively serve to increase our total points of distribution across the east coast, support our Gross Merchandise Value and drive continued brand performance of our leading cannabis brands."
As part of the new strategic partnership with Trulieve, SLANG will supply branded products for distribution in the Maryland market and support in-market sales with pop-up presence at retail locations throughout the state, as well as support other marketing efforts and local community activations. SLANG has partnered with Trulieve over the past year to enter the Florida and Massachusetts markets with SLANG providing wholesale initiatives, which is a SLANG core competency. Along with wholesale, this launch will also take place in Trulieve owned retail locations throughout the state.
Initial product offerings in Maryland include O.pen Daily Strains, a selection of popular strains designed to offer consistent and repeatable effects with elevated THC potencies. It will be followed by the launch of Cured Resin shortly following, exact date to be determined.
"We are excited to expand on our successful partnership with SLANG and build on our strong position in the Maryland medical cannabis market," said Gina Collins, Trulieve's Vice President of Marketing. "As the exclusive source of SLANG's nationally recognized, trusted and beloved brands, Trulieve continues to deliver on our promise to our patients in Maryland that we will provide a wide variety of the highest-quality products available in the market today."
SLANG Worldwide also announces it has issued 823,409 common shares, at a deemed price of $0.2235 per share, to an executive officer pursuant to an employment agreement and a former executive officer providing consulting services. The shares are subject to a hold period expiring September 17, 2022.
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. SLANG 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.
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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 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 29, 2021 and other disclosure documents 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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