News: Slang Partners with Trulieve in Massachusetts SLANG Worldwide and Trulieve Partner to Bring Leading Portfolio of Cannabis Brands to Massachusetts
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2020) - SLANG Worldwide Inc. (CNSX: SLNG) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced a strategic partnership with Trulieve Cannabis Corp. (CSE: TRUL) & (OTCQX: TCNNF) ("Trulieve"), a leading and top-performing cannabis company based in the United States, to introduce SLANG-branded products to consumers in Massachusetts.
Pursuant to the partnership, Trulieve has been granted an exclusive license to produce and distribute the SLANG product suite in Massachusetts, including its category-leading brands O.penVAPE, Firefly, Pressies, District Edibles, and Bakked. SLANG will also provide sales consulting services and will receive royalty payments for each branded product sold in the state.
Trulieve is currently building out Phase 1 cultivation and processing capabilities at its 140,000 square foot facility in Holyoke, Massachusetts. Trulieve is also completing work on its first Massachusetts dispensary in Northampton, and holds licenses to operate up to three co-located medical and adult use locations.
"Trulieve is a natural partner for us in Massachusetts given their industry leadership and the successful relationship our companies have enjoyed in Florida," said SLANG CEO Chris Driessen. "Here they will take on an additional capacity as a wholesaler and play a vital role in helping us grow our brands with cannabis consumers in the state."
Massachusetts is the first eastern U.S. state to legalize both medical and adult use cannabis. Research firm BDS Analytics estimates that retail sales in the state will grow from US$587 million in 2019, the first full year of legal sales, to more than US$745 million in 2020, and an estimated US$1.35 billion by 2024.
SLANG-branded products are expected to be available in Massachusetts in the first half of 2021, following the completion of Trulieve's facilities and ramp-up of production.
For further information:
SLANG media and Investor inquiries: Investors@SLANGww.com
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. SLANG is listed on the Canadian Securities Exchange under the ticker symbol SLNG. For more information, please visit www.slangww.com.