SLANG Worldwide Q3 2022 Financial Results

SLANG Worldwide Announces Third Quarter 2022 Financial Results

Completes Integration of Acquired Vermont Cannabis Operations in Preparation for Launch of Adult-Use Sales Successfully Launched Alchemy Naturals in Colorado Leveraged New Streamlined Infrastructure in Vermont and Colorado to Sustain Higher Gross Margins and Increase Cash Flow Toronto, Ontario--(Newsfile Corp. - November 29, 2022) - 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, today released financial results for the three and nine months ended September 30, 2022. All figures in this press release are stated in Canadian dollars unless otherwise noted. John Moynan, CEO of SLANG, said, "As I was appointed CEO in October, SLANG had been set on a new growth trajectory as we neared the completion of our operational restructuring. In the third quarter, SLANG strategically advanced upon a number of key growth opportunities in our Core Markets of Colorado and Vermont which have significantly enhanced our leadership position and are now driving a new level of financial success. Most notably, we completed the integration of our newly acquired Vermont cannabis operations and successfully launched adult-use sales in our Burlington store in October as the first adult-use dispensary in the state. As sales continue to build from the launch of new products, we face a greater opportunity to serve a more expansive consumer base and believe Vermont will serve as a key revenue channel for our business." "Despite a weakening in the Colorado market in the quarter, our O.pen brand continued to perform strongly and remains the top selling vape product in the market. Once again, O.pen was recognized as Colorado's best vape product by BDSA, generating $3.8 million in retail sales in September, $1.5 million more than the nearest branded competitor and private label competitor. We exceeded our sales projections for the month of October and believe that, as demand continues to build for O.pen, as well as our newly launched Alchemy products, we will continue to see steady financial growth from these products going forward. This is perhaps the most exciting time in SLANG's history. We are operating more efficiently than ever before and we have a clear path towards profitability." Third Quarter 2022 Operational Highlights and Growth Drivers: Vermont regulators issued a retail marijuana license to the Company on September 28, 2022, allowing the Company to open its Ceres Collaborative dispensary on October 1, 2022, Vermont's first adult-use cannabis store; Successfully launched Alchemy Naturals Edibles in Colorado in July and e-commerce in September with an 8% growth in dollar sales from July to September; Sustained margin improvement of 44% along with significant reduction in operational expenses; Increased Colorado sales as one of the Company's key accounts delivered a 229% increase in sales from August to September. SLANG achieved total Colorado sales growth for the month of September of 44.5% year-over-year and 75% from August, significantly beating the Company's overall quarterly sales forecast in Colorado by 12%. Subsequent Quarterly Operational Highlights: Cash flow positive in October[1]; Kicked off 10 Years of O.pen Program in October with the launch of special incentives driving strong October product sales; O.pen ranked #1 Vape Brand in Colorado for its 20 month since 2019; Adult-use sales in Vermont began October 1, 2022. Third Quarter 2022 Financial Highlights Revenue from continuing operations for the three months ended September 30, 2022 ("Q3 2022") was $8.17 million, compared with $9.36 million in the three months ended September 30, 2021 ("Q3 2021"), representing a 13% decrease year-over-year. The primary drivers of the decrease were due to a reduction of $0.87 million in sales in our non-core markets sales, a reduction of $0.78 million in Firefly 2+ sales and a reduction of $0.29 million in Colorado Core Market sales, offset by a $0.75 million increase in revenue associated with the acquisition of High Fidelity, Inc. ("HiFi") completed on August 11, 2021. Gross profit of $3.60 million (44% gross margin) in Q3 2022, compared with $3.46 million (37% gross margin) in Q3 2021, representing a 4% increase year-over-year. Despite the decrease in revenue year-over-year, gross profit increased due to lower cost of raw cannabis inputs in Colorado, higher margins associated with HiFi's retail operations, and two previously completed strategic initiatives being the elimination of low-margin Oregon sales and the elimination of low margin products via an internal SKU rationalization process. EBITDA of ($3.43 million) in Q3 2022, compared with ($5.54 million) in Q3 2021. The improvement in EBITDA is primarily attributable to a reduction of $1.86 million in expected credit losses and an increase in gross profit of $0.14 million. Adjusted EBITDA of ($1.24 million) in Q3 2022, compared with ($1.56 million) in Q3 2021. The improvement in Adjusted EBITDA is primarily attributable to a $0.45 million increase in gross profit before fair value adjustments on biological assets, offset by an increase in operating expenditures related to HiFi, which is not presented in the comparative period before August 11, 2021. $12.23 million in cash and restricted cash on September 30, 2022, compared to $20.83 million on December 31, 2021, and $15.72 million on June 30, 2022. EBITDA and Adjusted EBITDA are non-IFRS financial measures that is further described under the section "Non-IFRS Measures" herein. Third Quarter 2022 Consolidated Financial Statements The consolidated financial statements were prepared in accordance with IFRS. The following is selected presentation of the Income Statement for the three months ended September 30, 2022. 3 months ended 30-Sept-22 3 months ended 30-Sept-21 (In thousands except per share data and percentages) CDN$ CDN$ Net Operating Revenue from Continuing Operations $8,170 $9,357 Cost of Goods Sold 4,152 5,790 Gross Profit Before Gain on Fair Value of Biological Assets 4,018 3,567 Realized fair value amounts included in inventory sold (584) (385) Unrealized gain on fair value of biological assets 170 282 Gross Profit 3,604 3,464 Gross Profit Margin 44% 37% Operating expenses 8,591 10,958 Operating Loss (4,987) (7,494) Other items (Impairment, FV adjustment, FX, gains/losses, taxes, etc.) 347 1,801 Total Comprehensive Income (Loss) (4,640) ($5,693) Earnings Per Share Basic ($0.06) ($0.08) Diluted ($0.06) ($0.08)   3 months ended 30-Sept-22 3 months ended 30-Sept-21 (In thousands except per share data and percentages) CDN$ CDN$ Total Comprehensive Income (Loss) (4,640) ($5,693) EBITDA (3,430) (5,541) Adjusted EBITDA (1,239) (1,555)   See the Company's management's discussion and analysis for the three months ended September 30, 2022 (the "Q3 2022 MD&A") for a detailed reconciliation of EBITDA and Adjusted EBITDA to Operating Income / (Loss). SLANG's financial statements and the Q3 2022 MD&A are available on SEDAR at www.sedar.com, and on the Company's Investor Relations website at www.slangww.com. Subsequent to the third quarter of 2022, the Company has also granted 4,733,526 incentive stock options (the "Options") to acquire common shares in the capital of the Company with an exercise price to equal the greater of: (i) the closing market price on November 30, 2022; and (ii) the closing market price on December 1, 2022, to its independent directors. The Options are subject to vesting provisions and are non-transferrable. Non-IFRS Measures EBITDA and Adjusted EBITDA are non-IFRS financial measures that the Company uses to assess its operating performance. EBITDA is defined as net earnings (loss) before net finance costs, income tax expense (benefit) and depreciation and amortization expense. Management defines Adjusted EBITDA as EBITDA adjusted for other non-cash items such as the impact of unrealized fair values, share based compensation expense, impairments, one-time gains and losses, and one-time revenues and expenses. This data is furnished to provide additional information and are non-IFRS measures and do not have any standardized meaning prescribed by IFRS. The Company uses these non-IFRS measures to provide shareholders and others with supplemental measures of its operating performance. The Company also believes that securities analysts, investors and other interested parties, frequently use these non-IFRS measures in the evaluation of companies, many of which present similar metrics when reporting their results. As other companies may calculate these non-IFRS measures differently than the Company, these metrics may not be comparable to similarly titled measures reported by other companies. We caution readers that Adjusted EBITDA should not be substituted for determining net loss as an indicator of operating results, or as a substitute for cash flows from operating and investing activities. Conference Call Details Management plans to host an investor conference call today, November 29, 2022 at 10:00am ET to discuss the results. Timing: Tuesday, November 29, 2022 at 10:00am ET Dial-in: 1(888) 440-5983 (US toll-free) or 1(646) 960-0202 (international) Conference ID: 6291438 Webcast: A live webcast can be accessed via the Company's website at www.slangww.com or at https://events.q4inc.com/attendee/564712700 A replay of the webcast will be archived on the Company's website for one year.   About SLANG Worldwide SLANG Worldwide is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 15 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, CeresMED, Firefly, District Edibles and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com. Forward-Looking Statements 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 the Q3 2022 MD&A 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. Financial Outlook This news release contains a financial outlook within the meaning of applicable Canadian securities laws. The financial outlook has been prepared by management of the Company to provide an outlook for the Company's cash flow for the month ended October 31, 2022 and may not be appropriate for any other purpose. The financial outlook has been prepared based on a number of assumptions including the assumptions discussed under the heading "Forward-Looking Statements" above. The actual results of the Company's operations for any period will likely vary from the amounts set forth in these projections and such variations may be material. The Company and its management believe that the financial outlook has been prepared on a reasonable basis. However, because this information is highly subjective and subject to numerous risks, including the risks discussed under the heading " Forward-Looking Statements" above, it should not be relied on as necessarily indicative of future results. Third Party Information This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources. Media and Investor InquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil CarlsonSLANG@kcsa.com __________________________[1] Preliminary and unaudited financial results are subject to customary financial statement procedures by the Company and its auditors. Actual results could be affected by subsequent events or determinations. While the Company believes there is a reasonable basis for these preliminary financial results, the results involve known and unknown risks and uncertainties that may cause actual results to differ materially. Preliminary fiscal results represent forward-looking information. See "Forward-Looking Statements" and "Financial Outlook".
q3 2022 earnings call details

SLANG Worldwide Announces Third Quarter 2022 Conference Call Details

Toronto, Ontario--(Newsfile Corp. - November 21, 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, today announced details of its planned release of its third quarter 2022 financial results and conference call. The Company expects to release its financial results for the quarter ended September 30, 2022 before markets open on November 29, 2022. Management plans to host an investor conference call that same day at 10:00 am ET to discuss the results. Timing: Tuesday, November 29th, 2022 at 10:00 am ETDial In: 1(888) 440-5983 (US toll-free) or 1(646) 960-0202 (international)Conference ID: 6291438Webcast: A live webcast can be accessed via the Company's website at www.slangww.com or https://events.q4inc.com/attendee/594492935 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. To be added to SLANG's email distribution list, please email SLANG@kcsa.com with "SLNG" in the Subject. Forward-Looking StatementsThis 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 27, 2022 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. Company ContactMikel Rutherford, CFO833-752-6499 Media and Investor InquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil CarlsonSLANG@kcsa.com
o.pen vape pen

SLANG Worldwide’s O.pen, the Original Vape Pioneer, Celebrates Ten Years in Business and the ‘Long Strange Trip’ of Adult-use Cannabis Legalization

The OG THC Vape Brand Kicks Off Month-Long Celebrations With a $10K Last Prisoner Project Donation, Commemorative Pen and Promotions at Dispensaries Nationwide TORONTO--(BUSINESS WIRE)--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, today announced the Company’s industry-leading vape cartridge, O.pen, is celebrating a decade of success and adult-use cannabis legalization in the state of Colorado with the number 10 appearing in multiple incentives throughout October, the 10th month of the year — starting with a $10,000 donation to The Last Prisoner Project, a non-profit organization dedicated to criminal justice reform. A tried and true industry leader, O.pen helped redefine modern cannabis by introducing an elevated consumption experience and popularized the 510-thread vape pen, a universal battery that supports any cannabis cartridge and now is the industry standard. To mark this milestone achievement, O.pen launched its special edition 10-Year Anniversary 2.0 Battery and limited-edition, commemorative THC cartridge packaging that’s designed to honor this milestone for both the business and cannabis legalization as a whole. “It’s rare for a brand in the cannabis industry to withstand the test of time, much less for ten years,” said Brittany Hallett, Vice President of Marketing at SLANG Worldwide. “O.pen was on the front lines right as recreational marijuana was legalized in Colorado and to say we’re proud that we’ve come this far is an understatement. While it’s certainly been a ‘long, strange trip’ during these ten years since adult-use cannabis legalization, we're looking forward to another decade as Colorado’s favorite cannabis vape pen.” Founded in October of 2012, O.pen came to market with a strong product that differentiated itself during the height of the industry’s “green rush.” At a time when the industry had an air of get-rich-quick schemes and shady business practices, O.pen was the first brand to singularly put consistency, repeatability and trust above all, while focusing on reaching new non-endemic audiences. O.pen was also one of the first cannabis brands to do in-store education via pop-ups, give away its batteries for free, offer a lifetime product warranty—which still exists today—and utilized sleek branding that fostered trust with consumers and support broadening the reach for the typical cannabis consumer. Since the brand’s inception, O.pen has sold upwards of 12 million total vape products across oil and hardware formats. According to cannabis research company BDSA, O.pen has held the top spot for “Best Vape Cartridge Brand in Colorado” for a total of 20 months since 2019, further supported by the 10 awards that the brand’s THC cartridges have won. O.pen has decorated the cartridges’ packaging with gold markings and a silhouette of the pen to honor the Company’s alignment with Colorado’s 10-year anniversary of cannabis legalization. “We chose The Last Prisoner Project as the beneficiary of our donation because we see it as a symbol of the friction that still exists in the cannabis industry today,” Hallett said. “O.pen has benefited from the value of the cannabis plant for 10 years as a business, while there are still people serving life sentences in jail for cannabis trafficking. We see it as an acknowledgment of how far we’ve come, and how much work there is still to be done for social equity in cannabis.” In addition to Colorado, O.pen licensees in Florida, New Mexico, Maryland and Massachusetts are participating in promotions intermittently throughout October, with the offer amount subject to change. For more information on where to buy O.pen products, visit openvapeshop.com. About SLANG Worldwide SLANG Worldwide is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 15 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, CeresMED, Firefly, District Edibles and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com. Forward-Looking Statements 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, changes in laws, resolutions and guidelines, market risks, risks related to the COVID-19 global pandemic, 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 27, 2022 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. Reader Advisory Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
John Moynan SLANG Worldwide CEO

SLANG Worldwide Appoints John Moynan as Chief Executive Officer and Ruth Chun as Chair of the Board

Toronto, Ontario--(Newsfile Corp. - October 3, 2022) - 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, is pleased to announce that Mr. John Moynan has been promoted to Chief Executive Officer of the Company effective immediately. Mr. Drew McManigle, former Interim Chief Executive Officer and Chair of the board of directors (the "Board"), is stepping down as he and MACCO Restructuring Group ("MACCO"), who served as financial advisor, have successfully completed the corporate transformation of the Company. Ms. Ruth Chun, an independent director of the Company, has been appointed Chair of the Board to replace Mr. McManigle. Mr. McManigle, said, "My MACCO colleagues and I are very appreciative of the opportunity to lead SLANG's operational and financial restructuring since joining the Company in October and November 2021 as Financial Advisor and Interim CEO respectively. The success we have made in less than a year in strengthening SLANG's team, its balance sheet and its business lines, has successfully resulted in a new and sustainable path for profitable revenue growth going forward. Key initiatives include, spearheading the development and launch of the Alchemy Naturals brand, entering the Vermont recreational cannabis market, and providing new growth opportunities for the near and long term. Mr. Moynan was integral to the development and implementation of the transformational strategic growth plans. I also want to thank SLANG's CFO, Mr. Mikel Rutherford, and his finance team, who did the heavy lifting to keep the Company timely, accurate and compliant during my tenure. I'm proud of all our accomplishments and believe under their direction, together with Ms. Chun as Chair, that SLANG is in the right hands to expand its leadership position in today's largest cannabis markets. We believe this will be a seamless management transition." Mr. Moynan stated, "We have a tremendous opportunity to strengthen and expand our position in each of our core and emerging markets now that we have successfully streamlined our operations and implemented a more defined growth strategy. Mr. McManigle and the team at MACCO were remarkable in their ability to support our efforts to reduce unmanageable overhead, conserve liquidity and efficiently advance strategic directives aimed at delivering stronger returns. I am honored to build upon these hard-earned successes and believe we have a great opportunity to bring an evolved SLANG to the forefront of the CPG cannabis industry." Ms. Chun commented, "I am honored to be named Chair of the Board at this important juncture for the Company. On behalf of the Board, I would like to thank Mr. McManigle and the MACCO team as we worked tirelessly together to help reorganize the Company by streamlining operations and positioning SLANG for future success. I would also like to congratulate Mr. Moynan on becoming CEO and look forward to working with him and our talented executive team and Board as we continue to serve the interests of SLANG's shareholders by creating long-term value." John Moynan Prior to his promotion to Chief Executive Officer, Mr. Moynan held the positions of Chief Operating Officer and General Counsel and he will continue to act as Corporate Secretary. Mr. Moynan has nearly a decade of experience in helping businesses navigate the complex, ever-changing landscape of the nascent cannabis industry, Mr. Moynan has been instrumental in developing the legal, operational, and strategic vision of SLANG. This track record of success includes crafting the Company's national expansion strategy, overseeing the development of its overall corporate structure, and negotiating the strategic partnerships that are core to the company's success to date. Ruth Chun Ms. Chun is a lawyer focused on advising regulated businesses in the cannabis, psychedelics, CPG and energy industries. Prior to founding Chun Law Professional Corporation, she was the General Counsel and Corporate Secretary for Newstrike Brands Ltd. / Up Cannabis Inc. and Senior Legal Counsel at HEXO Corp. through its acquisition of Newstrike in an all-share deal valued at CAD$346 million. Ms. Chun joined Newstrike in February 2017 and was involved in all significant corporate activity including a successful TSXV listing, debt and equity financings (exceeding CAD$140 million), M&A, regulatory matters and government relations. She is regularly called upon as a speaker, industry expert and guest lecturer at various colleges and universities and is on the Advisory Board of the Osgoode Professional Development Certificate in Cannabis Law and Regulation. She is an independent director of Entheon Biomedical Corp. and is a director of several private and not-for-profit organizations. Ms. Chun has an Honours Bachelor of Arts (Trinity College, University of Toronto), Master of Arts (University of Toronto) and Juris Doctor (Queens University) and is called to the bar in Ontario, New York and Namibia. Credit Agreement Amendment The Company today announced that it has amended certain covenants of the Company and other provisions set forth in its principal amount US$17.3 million credit and guaranty agreement with Trulieve Cannabis Corp., Pura Vida Investments, Seventh Avenue Investments and other investors (the "Credit Agreement"). A copy of the amendments to the Credit Agreement will be made available on the Company's profile on SEDAR at www.sedar.com. Stock Option Grant In connection with Mr. Moynan's appointment as Chief Executive Officer, the Company has granted 1,000,000 incentive stock options (the "Options") to acquire common shares in the capital of the Company at a price of CDN$0.075 per share exercisable until October 3, 2027. The Options are subject to vesting provisions and are non-transferrable. Change in Auditor The Company also announces that it has changed auditors from Baker Tilly WM LLP ("Former Auditor") to MNP LLP ("Successor Auditor") effective September 7, 2022. The Former Auditor's resignation did not occur because of any reportable disagreement or unresolved issue involving the Company, or any consultation with the Successor Auditor. The change of auditor was considered, approved and recommended by the Audit Committee of the Board. In the opinion of the Company, there were no: (i) modified opinions expressed in the Former Auditor's reports on any of the Company's financial statements relating to the "relevant period" as that term is defined in Section 4.11 of National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102"); or (ii) any "reportable event" as that term is defined in Section 4.11 of NI 51-102. In accordance with NI 51-102, a notice of change of auditor, together with the required letters from the Former Auditor and the Successor Auditor, were filed under the Company's profile on SEDAR on September 9, 2022. About SLANG Worldwide Inc. SLANG Worldwide Inc. is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 15 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, CeresMED, Firefly, District Edibles and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com. To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject. Company ContactMikel Rutherford, CFO833-752-6499 Media and Investor InquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil CarlsonSLANG@kcsa.com Forward-Looking Statements 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 27, 2022 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. Reader Advisory Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SLANG Worldwide Ceres Collaborative Dispensary in Burlington, Vermont Will Open for Adult-Use Sales On October 1st

SLANG Worldwide Ceres Collaborative Dispensary in Burlington, Vermont Will Open for Adult-Use Sales On October 1st

Toronto, Ontario--(Newsfile Corp. - September 29, 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, today announced the opening of its first recreational cannabis store in Vermont on October 1st, marking the Company's entry into the newly legalized recreational market. Operating under the Company's Ceres Collaborative cannabis group, which brings together two of today's most innovative cannabis operators, SLANG Worldwide and CeresMED, the storefront is located in the heart of Vermont's capital at 190 College Street, adjacent to the Church Street pedestrian mall in downtown Burlington. Centrally located in the city to benefit both local consumers and tourists with its 1,500-square-foot dispensary supported by 20 full-time employees, the dispensary is well-positioned to play a leading role in Vermont's evolving recreational cannabis market which is estimated to reach $265 million in annual sales by 2025.1 Drew McManigle, Interim CEO of SLANG, said, "Our initial entry into Vermont's medical cannabis market a few months ago strategically positioned SLANG at the forefront of the next high-growth recreational market. Ceres Collaborative group is deeply rooted in the community as Vermont's longest-running dispensary. Now, operating one of the first adult-use dispensaries in Vermont, we are leading the next phase of the state's cannabis industry, bringing our market leading CPG cannabis products to a significantly wider consumer audience through the state's well-recognized Ceres brand." SLANG has been serving the Vermont market for over 6 years by offering its industry-leading, O.pen cannabis vaporizer through the state's medical program under its longstanding partnership with CeresMED. The Company expanded its presence in Vermont's medical cannabis market in June 2021 through its acquisition of High Fidelity Inc. (Hi-Fi), Vermont's largest medical cannabis company which operates the Ceres Collaborative cannabis group. Through the acquisition, SLANG gained a vertically integrated operational footprint in Vermont, which included CeresMED's existing medical dispensaries and a 28,000-square-foot cultivation and production lab, and retail distribution facility, along with two medical cannabis licenses. SLANG has consolidated CeresMED's three currently operating medical dispensaries under its brand portfolio and has added two new greenhouses that will produce up to 1,500 cannabis plants a year. "CeresMED has been a proud and active member within the Vermont community since 2012," said Russ Todia, Chief Operating Officer at CeresMED. "Through SLANG's industry leading position and Ceres Collaborative's extensive operational network, we look forward to working in conjunction with local growers and producers and alongside respected national brands, to create a unique, Vermont-forward cannabis experience in our downtown Burlington dispensary. Through education and empowerment of the community, CeresMED was instrumental and hands-on in helping to cultivate the cannabis industry within Vermont for the last 10 years. Now, we are eager to extend this into the adult-use program, and to welcome cannabis consumers of all levels into our stores throughout the state." Ceres Collaborative has been a long-time advocate for adult-use cannabis retail sales in Vermont, and through CeresMED's deep roots in the state's medical program. Ceres Collaborative positions itself to continue its mission of educating the public, the healthcare community, local regulatory bodies and state officials on the medical and economic benefits of cannabis. Due to work with the Vermont Cannabis Trades Association (VCTA), where CeresMED represented experienced cannabis operators on subcommittees of the Cannabis Control Board, CeresMED helped stimulate discussions about how to implement a public safety-focused and inclusive adult-use market. About Ceres Collaborative Inc.Ceres Collaborative has achieved a number of distinctions in its ten-plus years of operations-including its title as Vermont's oldest cannabis operator and the first vertically-integrated business unit of SLANG Worldwide. With an emphasis on community, true to its name, Ceres Collaborative has partnered with local growers and producers to curate a Vermont-forward product selection. As Ceres has grown, so have its regional partnerships, from advocacy groups and tourism boards to health care providers. The company has also expanded into outdoor cultivation and established a full on-site commercial kitchen headed by a classically trained chef. Ceres is a unique model for how cannabis operators can grow cooperatively while staying true to their values-in this case, to provide robust support for local agriculture, create quality local jobs, and set the tone for patient satisfaction. Learn more: www.ceresvt.com. About SLANG Worldwide Inc.SLANG Worldwide Inc. is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 15 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, CeresMED, Firefly, District Edibles and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com. To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject.
q2 2022 financial results

SLANG Worldwide Announces Second Quarter 2022 Financial Results

Successful Operational Transformation Leads to Continued Margin Improvement Toronto, Ontario--(Newsfile Corp. - August 25, 2022) - 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, today released financial results for the three and six months ended June 30, 2022. All figures in this press release are stated in Canadian dollars unless otherwise noted. Drew McManigle, Interim CEO and Chairman of SLANG, said, "The success of our operational transformation implemented at the end of 2021 continues to be reflected in our quarterly financial results. In the second quarter, we maintained higher growth margins of 46%, demonstrating a year-over-year increase of 31% and gross profit of $4.49 million, compared to $3.67 million a year ago, representing an increase of 22%. With operating efficiencies and a streamlined infrastructure in place, we are in the right position to achieve ongoing top and bottom-line growth as we leverage a stronger operational footprint and introduce new products to the market." "The SLANG brand has never been stronger. Not only are we celebrating 10 years of success of our O.pen brand, we recently announced the launch of our Alchemy Naturals, our new THC and CBD Gummy line in Colorado. With the support of a strengthened management team, new Board of Directors and reshaped sales group, we are strategically elevating SLANG's market position." "From an operational standpoint, this has been a strong quarter and we are now advancing upon a number of potential growth opportunities to build on this success. Our Board of Directors has recently established an M&A committee chaired by Kevin Albert and will continue to focus on new M&A opportunities while we organically grow our most popular brands. I am proud of the progress we have made, and the position SLANG is now in. I look forward to sharing our continued progress and the new level of growth we are set to achieve," concluded McManigle. Second Quarter 2022 Operational Highlights and Growth Drivers: Expansion of Vermont Cultivation Facility to prepare for the harvest the Company's first crops in preparation for receiving the Company's recreational license expected in Q4 2022. Revitalized Approach to Sales Strategy in Colorado, including an optimized sales structure and new sales manager to drive revenue within the state. Key Additions to Board of Directors to build upon and work hand in hand with the already strengthened management team put in place, along with a newly formulated M&A and Investment Committee led by new board member Kevin Albert. Subsequent Quarterly Operational Highlights: Strengthened the SLANG brand portfolio by formulating, developing and rolling out Alchemy Naturals THC and CBD gummies into Colorado's USD$371 million edibles market and CBD locations throughout the country.1 Celebrating 10 years of the O.pen brand, one of the industry's leading cannabis vaporizer brands which is recognized for its superior vaporizing pens and higher-quality oils. Second Quarter 2022 Financial Highlights Revenue from continuing operations for Q2 2022 was $9.87 million, compared to Q2 2021 revenue of $10.50 million. Gross profit of $4.49 million (46% gross margin) in Q2 2022, compared with $3.67 million (35% gross margin) in Q2 2021, representing a 22% increase year-over-year and 31% increase in gross margin. EBITDA of $7.66 million in Q2 02022, compared with ($3.16 million) in Q2 2021. Operating expenses from continuing operations was reduced by $0.43 million, or 6%, in Q2 2022 when compared to Q1 2022 (excluding the $8.72 million recovery of previous credit losses), marking the Company's second consecutive quarterly operating expense reduction, which is a result of the cost cutting and restructuring initiatives implemented in Q4 2021 and Q1 2022. $15.72 million in cash and restricted cash on June 30, 2022, compared to $20.83 million on December 31, 2021 and $16.56 million on March 31, 2022. Second Quarter 2022 Consolidated Financial Statements The consolidated financial statements were prepared in accordance with IFRS. The following is selected presentation of the Income Statement for the three months ended June 30, 2022. 3 months ended 30-Jun-22 3 months ended 30-Jun-21 (In thousands except per share data and percentages) CDN$ CDN$ Net Operating Revenue from Continuing Operations $9,868 $10,497 Cost of Goods Sold 5,601 6,827 Gross Profit Before Gain on Fair Value of Biological Assets 4,267 3,670 Realized fair value amounts included in inventory sold (580) - Unrealized gain on fair value of biological assets 806 - Gross Profit 4,493 3,670 Gross Profit Margin 46% 35% Operating expenses (1,664) 8,632 Operating Loss 6,157 (4,962) Other items (Impairment, FV adjustment, FX, gains/losses, taxes, etc.) 9,700 (302) Total Comprehensive Income (Loss) (3,543) ($4,660) Earnings Per Share Basic ($0.03) ($0.05) Diluted ($0.03) ($0.05)   3 months ended 30-Jun-22 3 months ended 30-Jun-21 (In thousands except per share data and percentages) CDN$ CDN$ Total Comprehensive Income (Loss) (3,543) ($4,660) EBITDA 7,655 (3,159) Adjusted EBITDA (478) (903)   See the Company's management's discussion and analysis for the three months ended June 30, 2022 (the "Q2 2022 MD&A") for a detailed reconciliation of EBITDA and Adjusted EBITDA to Operating Income / (Loss). SLANG's financial statements and the Q2 2022 MD&A are available on SEDAR at www.sedar.com, and on the Company's Investor Relations website at www.slangww.com. Non-IFRS Measures EBITDA and Adjusted EBITDA are non-IFRS financial measures that the Company uses to assess its operating performance. EBITDA is defined as net earnings (loss) before net finance costs, income tax expense (benefit) and depreciation and amortization expense. Management defines Adjusted EBITDA as EBITDA adjusted for other non-cash items such as the impact of unrealized fair values, share based compensation expense, impairments, one-time gains and losses, and one-time revenues and expenses. This data is furnished to provide additional information and are non-IFRS measures and do not have any standardized meaning prescribed by IFRS. The Company uses these non-IFRS measures to provide shareholders and others with supplemental measures of its operating performance. The Company also believes that securities analysts, investors and other interested parties, frequently use these non-IFRS measures in the evaluation of companies, many of which present similar metrics when reporting their results. As other companies may calculate these non-IFRS measures differently than the Company, these metrics may not be comparable to similarly titled measures reported by other companies. We caution readers that Adjusted EBITDA should not be substituted for determining net loss as an indicator of operating results, or as a substitute for cash flows from operating and investing activities. Conference Call Details Management plans to host an investor conference call today, August 25, 2022 at 10:00am ET to discuss the results. Timing: Thursday, August 25, 2022 at 10:00am ET Dial-in: 1(888) 440-5983 (US toll-free) or 1(646) 960-0202 Conference ID: 6291438 Webcast: A live webcast can be accessed via the Company's website at www.slangww.com or at https://events.q4inc.com/attendee/564712700A replay of the webcast will be archived on the Company's website for one year. 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. To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject. Forward-Looking Statements 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 the Q2 2022 MD&A 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. Third Party Information This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources. Media and Investor InquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil CarlsonSLANG@kcsa.com
q2 2022 conference call details

SLANG Worldwide Announces Second Quarter 2022 Conference Call Details

Toronto, Ontario--(Newsfile Corp. - August 18, 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, today announced details of its planned release of its second quarter 2022 financial results and conference call. The Company expects to release its financial results for the quarter ended June 30, 2022 before markets open on August 25, 2022. Management plans to host an investor conference call that same day at 10:00am ET to discuss the results.  Timing:  Thursday, August 25th, 2022 at 10:00am ET  Dial In:  1(888)440-5983 (US toll-free) or 1(646)960-0202  Conference ID:   6291438  Webcast:  A live webcast can be accessed via the Company's website at www.slangww.com or https://events.q4inc.com/attendee/564712700   To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the Subject. 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. To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject. Forward-Looking StatementsThis 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. Media and Investor InquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil CarlsonSLANG@kcsa.com
alchemy naturals thc gummies

SLANG Worldwide Launches New All-Natural Edible Brand, Alchemy Naturals

Alchemy Naturals THC and CBD Gummies Now Available in Colorado Toronto, Ontario--(Newsfile Corp. - August 3, 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 the launch of its new brand, Alchemy Naturals CBD & THC Gummies, which became available in the Colorado market and national CBD retail locations on August 1, 2022. The Company will be replacing its current CBD gummy brand, Lunchbox Alchemy, with the Alchemy Naturals brand, to build upon its success by providing an all-natural product line with engaging new flavors in both of the CBD and THC categories. New Alchemy Naturals products include Sleep, Relief, De-Stress, Intimacy, and Daily gummies formulated with THC, CBD and other minor cannabinoids and nutraceuticals which have demonstrated the ability to support the intended effects. In addition to launching Alchemy Naturals into Colorado's $371 million edibles market¹, Alchemy Naturals products will be sold in CBD locations located throughout the country. SLANG plans to launch into additional markets throughout the U.S. via its strategic partnership model. Drew McManigle, Interim CEO and Chairman of SLANG, commented, "We have demonstrated a strong record of success in bringing many of today's top-performing THC and CBD brands to each of our target markets. The launch of Alchemy Naturals is a milestone achievement in our ongoing efforts to create a unique and diverse portfolio of today's most demanded THC and CBD products. It should also be noted that in less than a year, the SLANG team has formulated, developed and rolled out a high-quality edible brand which combines cannabinoids and adaptogens in a unique manner. These all-natural products offer an effective experience for consumers looking for a healthier and better tasting gummy." McManigle continued, "SLANG has created a distinctive brand and product offering in the Colorado edibles category. With this market continuing to grow at a record pace and increasingly being recognized as the 3rd largest category behind flower and vape, with gummies being the most preferred type of edible, our ability to expand and strengthen our portfolio further build upon our leadership position in the cannabis market. Furthermore, by immediately releasing Alchemy Naturals into two different distribution channels - CBD & THC- we are strongly positioning SLANG to deliver meaningful growth and revenue going forward as we continue to expand into new geographic markets." ¹BDSA Colorado 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. To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject. Forward-Looking Statements 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 27, 2022 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. Third Party Information This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources. Media and Investor InquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil CarlsonSLANG@kcsa.com
SLANG Worldwide Announces Issuance of Equity Incentives
press release

SLANG Worldwide Announces Issuance of Equity Incentives

Toronto, Ontario--(Newsfile Corp. - June 21, 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, has granted 4,828,676 incentive stock options (the "Options") to acquire common shares in the capital of the Company at a price of C$0.14 per share. 4,408,676 of the Options were granted to independent directors exercisable until June 20, 2032 and 420,000 to employees exercisable until June 20, 2027. The Options are subject to vesting provisions and are non-transferrable. 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. To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject.