Company to Utilize Temporary Regulatory Filing Relief for First Quarter
Toronto, Ontario--(Newsfile Corp. - May 26, 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 details of its planned release of first quarter 2020 financial results.
Investor Conference Call
The Company expects to file its first quarter 2020 results the morning of Thursday, June 25, 2020 prior to the commencement of stock market trading. Management plans to host an investor conference call that same day at 10:00 am EDT to discuss the results.
Timing: Thursday, June 25, 2020 at 10:00 am EDT
Dial-in: 888.231.8191 (toll free) or (+1) 647.427.7450 (local or international calls)
An archive of the webcast will be available on the Company's website for one year.
Slides: An investor presentation to accompany management's remarks will be available on the Company's website and on the webcast page.
Replay: An audio replay of the call will be available for seven days at (+1) 855.859.2056 passcode 8279327.
Temporary Regulatory Filing Relief
As a result of logistics and delays caused by the COVID-19 pandemic, the Company is relying on the Ontario Securities Commission's blanket order, Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements (the "Exemption"), to postpone the filing of its quarterly financial statements for the three months ended March 31, 2020, related management's discussion and analysis and the applicable CEO and CFO certifications in respect of such filings (collectively the "Interim Filings"). If it were not relying on the Exemption, the Company would be required to file its Interim Filings on or prior to June 1, 2020 pursuant to National Instrument 51-102 Continuous Disclosure Obligations.
The Exemption is provided in response to the COVID-19 pandemic. The Canadian Securities Administrators and other securities regulatory authorities in Canada have granted similar blanket relief allowing reporting issuers an additional 45 days to complete their regulatory filings that were otherwise due during the period March 23, 2020 to June 1, 2020.
The Company has imposed an insider trading blackout pending the release of the Interim Filings and members of management, directors and other insiders will comply with the Company's insider trading policy and the guidelines described in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, until the Interim Filings have been released, which the Company anticipates occurring on or about June 25, 2020. The Company confirms that there have been no material business developments since the filing of its financial statements for the year ended December 31, 2019.
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.
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 final long form prospectus dated January 17, 2019 and "Risks and Uncertainties" in the management discussion and analysis for the year ended December 31, 2019, as filed 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.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.