Toronto, Ontario--(Newsfile Corp. - March 3, 2023) - SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), one of the leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced it has launched its industry-leading vape brand, O.pen, in West Virginia through its strategic partnership with Trulieve Cannabis Corp. ("Trulieve"), one of the leading and top-performing cannabis companies based in the United States.
The O.pen brand, which recently celebrated 10 years of success, has become one of the most recognized and best-selling vape brands in the country, selling over 12 million total vape products since its inception in 2012. As part of the strategic partnership with Trulieve, O.pen vape products will be sold in Trulieve's nine West Virginia retail locations and through its wholesale network composed of 40 dispensaries throughout the state, with this number continuing to grow as demand continues to build.
John Moynan, CEO of SLANG, said, "Our entry into the West Virginia market is extremely timely as West Virginia's medical cannabis market continues to evolve and consumers increasingly look for today's most popular cannabis products. O.pen has remained a top-performing vape brand for over 10 years and we are seeing stronger product sales and increased market share in our core markets more than ever before. Entering the West Virginia market through our longstanding partnership with Trulieve, who has established a leadership presence in West Virginia since launching the first medical dispensary in that state, provides a key opportunity to quickly add a new revenue stream to our business and supports our overall mission to build a national brand."
This new partnership agreement expands upon the Company's longstanding strategic alliance with Trulieve, which began in July 2019 with the successful launch of SLANG's products in three states across the country, including, Maryland, Massachusetts and Florida.
"Our ability to enter new, emerging cannabis markets through our strategic partnership model allows us to secure a position as an early entrant in each market that demonstrates the near-term opportunity for recreational legalization. For the past three years, Trulieve has played an integral role in positioning our expanding SLANG product portfolio on the shelves of today's largest and fastest growing cannabis markets and we look forward to building upon this success as the cannabis industry continues to evolve," concluded Moynan.
Gina Collins, Trulieve's Chief Marketing Officer, stated, "Our partnership with SLANG allows us to exclusively introduce O.pen into West Virginia at our dispensaries. As we continue to build our presence in the state, the addition of SLANG's market-leading vape furthers our ability to deliver the highest quality of cannabis products and customer experiences to our growing patient base."
About SLANG Worldwide Inc.
SLANG Worldwide Inc. is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 15 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, Ceres Collaborative, Firefly, and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com.
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Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with established hubs in the Northeast, Southeast, and Southwest, anchored by leading market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.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 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 27, 2022 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.
Mikel Rutherford, CFO
Media and Investor Inquiries
KCSA Strategic Communications
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