Toronto, Ontario--(Newsfile Corp. - August 21, 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 the launch of Craft RESERVE Live Resin cartridges under O.penVAPE, its leading vaporizer brand. The product represents the Company's entry into the hydrocarbon space.
Live Resin is produced using a hydrocarbon extraction method and fresh frozen whole-plant cannabis material from top-performing cannabis strains. Freezing cannabis material immediately after harvest allows for better preservation of the plant's desirable compounds such as terpenes and cannabinoids. This creates a richer flavor profile and delivers a more full-spectrum cannabinoid experience reflective of the plant's genetics.
Craft RESERVE Live Resin cartridges offer loud and robust flavor profiles with a full-spectrum cannabinoid experience
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Live Resin cartridges will be rolled out across SLANG's Colorado distribution network, which includes approximately 300 dispensaries. The new product is expected to benefit from strong brand recognition and a significant existing customer base, in a state where O.penVAPE is the all-time top-selling vape brand, according to BDS Analytics data since tracking began in 2014.
"These pure live resin carts are not only delicious, but will build on our leadership position by offering new options to our rapidly growing base of customers in Colorado," said SLANG CEO Chris Driessen. "This launch is consistent with our strategy of innovating within our core product categories to further differentiate our best-in-class offering. We anticipate using the same extraction methodology to introduce live resin versions in other selected categories in the coming months."
Craft RESERVE Live Resin carts will complement SLANG's existing Craft RESERVE Cured Resin carts. Cured Resin is made from dried flower using a low-pressure, subcritical extraction technique that creates a high potency extract. Since its launch in 2017, Craft RESERVE Cured Resin has won awards for best cannabis extract at events that include the High Times Cannabis Cup, Oregon Growers Cup and the THC Classic.
Live Resin carts are manufactured at the Allied Concessions Group ("ACG") facility in Boulder, Colorado. The Company continues to work towards the completion of its previously announced proposed acquisition of ACG, consistent with its strategy of consolidating supply chain assets in its core markets.
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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 in this news release include, but are not limited to, statements regarding the distribution of the SLANG-branded vape cartridges in Colorado, the anticipated launch of additional live resin products and the proposed acquisition of ACG.
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 and three months ended March 31, 2020, each 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.
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.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.