Toronto, Ontario--(Newsfile Corp. - July 14, 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 its first Cookies-branded manufactured products in Colorado. Cookies "Terp Sauce" premium vaporizer cartridges are now available at approximately 50 leading dispensaries statewide.
"There has been a lot of anticipation for the Cookies brand among sophisticated cannabis consumers in Colorado, and the initial shipment was spoken for within two hours of being made available," said Chris Driessen, President of SLANG USA. "Terp Sauce is ideal for preserving the true essence and flavor of the plant. The vape category is our bread and butter, so bringing these sought-after, highly curated Cookies genetics to market in a vapable format was right in our wheelhouse."
Cookies Terp Sauce cartridges are available in Colorado in Honey Bun,
White Runtz, Cake Mix and other highly curated strains.
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"Expanding Cookies and its family of brands' genetics into vapes is one of the many reasons we've partnered with a world-class company like SLANG. We're proud to continue to bring quality products to the Colorado market where the consumers' sophistication demands other ways to experience Cookies' broad array of genetics," said Parker Berling, President of Cookies.
Cookies Terp Sauce cartridges are packaged in ceramic c-cell cartridges containing 500mg of concentrate produced through a sophisticated hydrocarbon extraction process.
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The Colorado cannabis market was second only to California in the U.S. in 2019, with nearly $1.75 billion USD of total sales, according to the Colorado Department of Revenue. The increasingly popular concentrates category represented approximately one-third of last year's total sales, with only flower claiming a larger share, according to BDS Analytics.
SLANG and Cookies are planning to launch additional concentrate products in the state, following the Company's successful recent launch of Cookies-branded prepackaged flower in Oregon.
Cookies Terp Sauce is the first product to be manufactured at the Allied Concessions Group ("ACG") facility in Boulder, CO following recent upgrades to enable hydrocarbon extraction. The Company continues to work towards the final steps required to complete its previously announced acquisition of ACG, consistent with its strategy of consolidating supply chain assets in its core markets.
SLANG's strong presence in Colorado was a key factor leading to the Company's exclusive agreement to distribute Cookies products through its statewide channels, first announced in October 2019.
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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 Colorado and the Company's proposed acquisition of ACG which remains subject to the negotiation and execution of definitive acquisition agreements and related documents and the satisfaction or waiver of any conditions precedent to the consummation of such acquisition (including the receipt of any requisite regulatory and third-party approvals).
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.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.