TORONTO, March 11, 2019 /CNW/ - SLANG Worldwide Inc. (CNSX: SLNG) ("SLANG" or the "Company"), a leading cannabis consumer packaged goods company, is pleased to announce the launch of its RESERVE product line in the California market. RESERVE further extends the O.penVAPE brand and complements SLANG's existing product line. The new product offering was created in direct response to demand in the market for a curated selection of top strains. Innovative formulations and market-leading prices are at the core of RESERVE, adding to an already robust product catalog. This catalog has made O.penVAPE the #2 best-selling cannabis brand in the United States since 2014, as reported by BDS Analytics.
As one of the largest cannabis markets in the United States, with recreational sales of $1.2B in 2018 per BDS Analytics, California is among SLANG's top-grossing territories. RESERVE is sold alongside SLANG's other offerings like Bakked, California's #1 best-selling distillate, and District Edibles, California's third best-selling gummy brand, reported by BDS Analytics. Presale orders for RESERVE sold out across the state, supporting SLANG's view that a competitively priced vaporizer cartridge will prove to be an essential piece of the California retail cannabis environment.
With a repeatable experience at the heart of the product's design, California's RESERVE product line uses both botanical and cannabis terpenes to deliver memorable moments to the quality-conscious consumer. Offered in both half-gram and one-gram cartridges, RESERVE is filled with high-quality, high-potency distillate. As with all SLANG products, customers can rest assured that RESERVE meets and exceeds all required regulatory testing standards. With a curated selection of 15 top strains, consumers can enjoy old favorites or become acquainted with new ones.
"As cannabis markets get more sophisticated, so too do cannabis consumer tastes" said Peter Miller, CEO of SLANG. "With the RESERVE line of strain-specific cartridges, these discerning consumer tastes will be served at a great price."
Beginning today, consumers can visit www.openvape.com/find to locate a California retailer carrying RESERVE.
About SLANG Worldwide Inc.
SLANG Worldwide Inc. is a leading cannabis-focused consumer packaged goods company. The Company is focused on acquiring and developing market-proven regional brands, as well as creating new brands to meet the needs of cannabis consumers worldwide. SLANG is listed on the Canadian Securities Exchange under the ticker symbol SLNG. For more information, please visit www.slangworldwide.co.
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 document include, but are not limited to, statements regarding the launch of and demand for SLANG's products in California and other markets. 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, concentration risks, operating history, competition, the possibility that the Company will be unable to successfully launch its RESERVE brand in California and the other risks identified under the heading "Risk Factors" in SLANG's final long form prospectus dated January 17, 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE SLANG WORLDWIDE
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