Toronto, Ontario--(Newsfile Corp. - April 2, 2020) - SLANG Worldwide Inc. (CSE: SLNG), (FSE: 84S), ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced that its District Edibles brand is now available to licensed retailers across Oregon. The initial launch includes the flagship District Gummies product line in Blue Raspberry, Watermelon, and Strawberry flavors, to be sold in discreet, child-resistant, 10-piece blister packs containing a total of 50mg of THC.
The District Edibles launch will establish a new revenue stream for SLANG in Oregon, where the Company currently competes successfully in the concentrates category. SLANG has also signed an exclusive licensing and distribution agreement to bring California-based cannabis and lifestyle brand Cookies to the Oregon market. SLANG's network partner in Oregon is manufacturing the District Edibles line and selling the products through its statewide distribution channels.
"We continue to execute on our strategy of portfolio diversification by entering the edibles category in Oregon," said SLANG CEO Peter Miller. "As one of our core markets, this launch leverages existing SLANG network assets in a market where we already have a presence. With many of our brands like O.penVAPE Craft Reserve and the Bakked Dabaratus already on the leaderboard in Oregon, we look forward to bringing high-quality edibles to an established market."
Image: Popular cannabis brand District Edibles is now available to licensed retailers in Oregon.
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The Oregon market had retail cannabis sales of $810 million USD in 2019, according to BDS Analytics. More than $10 million USD of cannabis ingestibles were sold in Oregon in February 2020, a 15% year-over-year growth rate, with candy representing more than half of the category's sales. After competing in Oregon primarily in the concentrates segment, SLANG's recent transactions position the Company to address all of the major categories including flower in 2020.
District Edibles is a popular cannabis edibles brand first launched in 2017 and now sold in multiple U.S. states. According to BDS Analytics 2019 sales data, District Edibles was a Top 10 performing brand in the gummies category in Nevada, Colorado, and California.
All District Edibles products are hand-mixed in small batches to ensure a consistent flavor and dose in every batch. High-quality ingredients result in a low-fat, low-sugar and gluten-free product containing less than 10 calories per serving. The use of fully-activated cannabis oil ensures that your body is able to fully absorb the active cannabinoids without any after-taste.
In addition to its gummies line, District Edibles also manufactures and distributes THC-infused chocolate in three flavors: Orange Chocolate, Cookies & Cream and Roasted Espresso. The Company anticipates launching further District Edibles products in Oregon in the future.
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 and on the Frankfurt Stock Exchange under the trading symbol 84S. 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 financial impact to SLANG of the launch of the District Edibles brand in Oregon and the distribution the District Edibles and Cookies brands in Oregon.
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, 2018, 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.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.