Toronto, Ontario--(Newsfile Corp. - July 14, 2021) - SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced that it has launched two of its best-selling brands, O.pen and District Edibles, in the State of Washington through a strategic partnership with Snowcrest LLC ("Snowcrest"), a cultivator and processor in Vancouver, WA.
One of America's best-selling vape brands, O.pen, is now available across dispensaries in Washington. District Edibles is expected to launch in August, further increasing SLANG's product penetration in the Evergreen State. The strategic partnership with Snowcrest, LLC, allows for SLANG brands to be produced in a vertically integrated facility.
"Washington is one of the largest cannabis markets in the United States and we are excited to launch our first products for the adult-use market," said Chris Driessen, CEO of SLANG. "This strategic partnership enables us to increase our Gross Merchandise Value metric and expand our retail distribution network through a well-respected, vertically integrated operator with an established track record of success."
As part of this previously announced partnership, Snowcrest will manufacture SLANG branded products, and SLANG's sales and marketing teams will work to place these products in dispensaries across the state. The agreement follows a royalty-based payment structure. In addition, Dolce Foglia, LLC, a full-service flavor house catering to the growing food & beverage industries, is also working with Snowcrest to provide premium flavorings in an array of edible products.
Ryan Fabian, Owner of Snowcrest, LLC said, "We are thrilled about the strategic alliance with SLANG Worldwide for the Washington State cannabis market. The widely respected brands by SLANG, along with both teams' shared core values and vision of growth are a perfect fit. We proudly manufacture the highest quality flower, vape and edibles for distribution throughout the State of Washington. We look forward to years of successful growth together with the dynamic team and product brands of SLANG Worldwide."
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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. 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 included in this news release include, but are not limited to, statements in respect of the distribution of SLANG branded products in the state of Washington.
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 annual information form dated April 29, 2021 and other disclosure documents available on the Company's profile 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.