Toronto, Ontario--(Newsfile Corp. - June 25, 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 Cookies-branded flower products in Oregon. Pre-packaged flower is now available in Gary Payton, Gelatti and other consumer favorites from the Cookies genetic library, including some of the most sought-after strains in cannabis.
As first announced on February 13, 2020, SLANG has an exclusive agreement to distribute Cookies products in Oregon through its statewide distribution channels.
"We are very excited to diversify our offering and enter the flower category with a great brand like Cookies," said SLANG CEO Peter Miller. "Both companies worked hard to get product on shelves less than six months after partnering in Oregon. Like each of our other recently-formed strategic partnerships, this launch aligns with our vision of building long-term, profitable relationships with like-minded teams. We expect to begin to see a revenue impact from several of these initiatives in the second half of the year."
Oregon has recently been among the fastest-growing cannabis markets in the United States. In April, retail cannabis sales were up 35% over April 2019, while flower was both the largest and highest-growth category, up 61% over the previous year, according to BDS analytics. The Oregon market had retail sales of $810 million USD during 2019.
SLANG considers Oregon to be one of its core markets, where its O.penVAPE Craft RESERVE and Bakked Dabaratus products are positioned as leading brands. The Company has invested in several growth initiatives in the state this year. In addition to its strategic partnership with Cookies, the Company announced the launch of its own District Edibles brand in Oregon in April. The Company also continues to work towards the final steps required to complete the previously announced acquisition of Oregon-based Lunchbox Alchemy.
SLANG and Cookies are collaborating on further product development for the Oregon market. The companies have a similar partnership in place in Colorado, and continue to work together to evaluate additional opportunities in other markets where SLANG operates.
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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.
Cookies is more than a premiere cannabis company, it is a lifestyle. Founded in 2012 by Berner, the prolific Bay Area rapper and entrepreneur, and his partner Jai, Bay Area cultivator and breeder, the company built its identity by seamlessly combining new, top-tier genetics, the internet, and music. Backed by the music industry, social media, and the countless YouTube vlogs documenting the brand's growth and breeding projects, Cookies quickly built a grassroots cult following while remaining loyal to its brand promise; authenticity and innovative genetics.
Today, Cookies is one of the most well-respected and top-selling cannabis brands in the United States. The company and its product are recognized globally, and offer a stable of over 50 cannabis varieties and product lines including indoor, outdoor and sungrown flower, pre-rolls, gel caps and vape carts. Cookies' overall vertical integration and seed-to-sale business allows for complete quality control at every step - from cultivation and production to retail experience.
In addition to its selection of curated smoking supplies, the company also sells apparel and accessories for both men and women under the Cookies SF label.
To learn more, please visit www.cookiescalifornia.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 Cookies brand in Oregon, the revenue impact of strategic partnerships and the proposed acquisition of Lunchbox Alchemy.
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.