Toronto, Ontario--(Newsfile Corp. - July 23, 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 that its products are now available to patients in Oklahoma. O.penVAPE RESERVE cartridges are being distributed to leading dispensaries throughout the state, with additional SLANG-branded products planned for release in the coming months.
SLANG-branded products are manufactured and distributed in Oklahoma by the Company's strategic partner in the state, licensed producer Elite Cultivation LLC ("Elite"). SLANG generates revenue in the state by licensing its brands and selling certain product components and consulting services.
"Oklahoma is on its way to becoming one of the largest cannabis markets in the country, and we are very pleased to have our products on shelves," said SLANG USA President Chris Driessen. "This is a great example of our emerging markets strategy which enables us to enter new markets quickly and efficiently. As our strategic partner in Oklahoma, Elite has done an outstanding job ramping up its operations to produce and distribute our products to its customers across the state."
"We are excited to introduce SLANG's proven brands to retail dispensaries and medical marijuana patients in Oklahoma," said Richard Freeman of Elite Cultivation. "We look forward to a successful and long-lasting partnership as the market continues to thrive."
Oklahoma's cannabis market is one of the fastest-growing in the United States. Total sales of more than USD $350 million in the first half of 2020 have already exceeded sales for all of 2019, the first full year of legal cannabis sales in the state, according to Oklahoma Tax Commission figures. According to data from the Oklahoma Medical Marijuana Authority, more than 313,000 patients have been approved for medical marijuana use, up 33% since the start of the year, and representing approximately one of every 13 Oklahomans.
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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.
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 SLANG-branded products in Oklahoma.
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.
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