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Slang Worldwide Inc SLGWQ

SLANG Worldwide Inc. is a Canada-based cannabis consumer packaged goods company with a portfolio of various brands. The Company owns, licenses and/or markets five brands, which serve three categories: flower, inhalable concentrates and ingestible. Its portfolio consists of three distinct consumer packaged goods (CPG) brands, one retail brand and a product portfolio of 30 stock keeping units (SKUs). The Company brings its products to market through three channels: Core Markets-Colorado and Vermont, Emerging Markets-Strategic Partnerships in nine States and THC Free-Distribution & Ecommerce. Its Core Markets include Colorado and Vermont. Its Emerging Markets include Florida, Maine, New Mexico, Michigan, Pennsylvania, Washington, West Virginia, Maryland and Puerto Rico. Its THC Free includes dry herb vaporizer, the Firefly 2+, line of Alchemy Naturals CBD gummies, as well as batteries and various other product components including packaging and hardware.


OTCPK:SLGWQ - Post by User

Post by happyascanbeon Sep 03, 2020 11:52am
112 Views
Post# 31504090

News: SLANG Acquisition of Peoria Partners LLC

News: SLANG Acquisition of Peoria Partners LLC

SLANG Worldwide Establishes Colorado Distribution Business with Acquisition of Peoria Partners LLC

Toronto, Ontario--(Newsfile Corp. - September 3, 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 that it has acquired the licensed cannabis producer and distributor, Peoria Partners LLC ("Peoria"). Peoria is the state-licensed manufacturer and distributor of SLANG's District Edibles brand in Colorado. The Company intends to continue to use Peoria's Denver facilities for the manufacture of District Edibles and for the distribution of the full suite of SLANG-branded products within Colorado.

"This is one of the planned acquisitions that allow us to consolidate our supply chain in Colorado," said SLANG President & CEO Chris Driessen. "Owning a licensed cannabis facility capable of manufacturing and distributing cannabis-infused SLANG products immediately opens up new opportunities for us, including the ability to capture greater top-line revenue and more favorable unit economics."

The purchase of Peoria marks a significant milestone in SLANG's strategy of consolidating its supply chain in Colorado. The Company announced last month that the Colorado Department of Revenue's Marijuana Enforcement Division had approved its application for suitability. That approval allows the Company to own "plant-touching" operations such as manufacturing and distribution facilities. The Company is working to complete other proposed acquisitions in Colorado.

The Company anticipates that consolidation of its Colorado supply chain will deliver several benefits, including increased revenue and gross profit per unit sold, greater control over production and distribution planning, improved efficiency across the organization and a strengthening of its leadership position in the state.

As previously disclosed in the Company's financial filings, the Company entered into an agreement with Peoria and its unitholders in February 2020 to acquire Peoria for non-material cash consideration.

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.

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