Firefly Mini, O.penVAPE RESERVE and Bakked Brands to Debut in Q3 2020
Toronto, Ontario--(Newsfile Corp. - July 7, 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 investee company, Agripharm Corp. ("Agripharm"), has obtained an amendment to its licence from Health Canada that will allow it to sell SLANG-branded cannabis extracts and edibles to authorized retailers in Canada. Agripharm intends to launch the Firefly Mini, O.penVAPE RESERVE and Bakked brands in Canada in the third quarter of 2020, followed by additional brands at a later date.
SLANG owns a 20% equity interest in Agripharm, obtained in exchange for the rights to use the Company's intellectual property in Canada. SLANG will generate revenue in Canada through the sale of product packaging materials, and also derive longer-term benefits from the ongoing success of Agripharm.
"Canada represents an important growth opportunity for our brands," said SLANG CEO Peter Miller. "The Canadian market is still taking shape; however, we are encouraged by the progress we've seen to date. We are excited to introduce products that have competed successfully for many years in mature markets in the United States, and we believe fill gaps in the current Canadian concentrates market."
The first SLANG brands to be offered to Canadian consumers will include the following:
- O.penVAPE: The O.penVAPE brand has a 10-year heritage, and has been ranked by BDS Analytics as the #2 best-selling cannabis brand in the United States since 2014. Its RESERVE cartridges offer a curated selection of top strains available at a competitive price. The RESERVE line uses both botanical and cannabis terpenes to deliver memorable moments to the quality-conscious consumer.
- Firefly Mini: Firefly is known for simple, elegant design that employs innovative technology to create the best experience for consumers. The Firefly Mini vaporizes oil at an optimal temperature (428 F / 220 C) selected for its ability to express the full range of flavors found in each strain, and to provide a cooler and more comfortable draw.
- Bakked Dabaratus: Bakked develops innovative product forms that make dabbing easier. The Dabaratus provides a clean, one-click dabbing solution that delivers a consistent dose of high-potency extract, dispensing only what customers need every time.
Agripharm's facilities in Creemore, Ontario include 13 acres of licensed outdoor grow space and 9,376 square feet of licensed indoor cultivation space, as well as extraction, processing and finished goods capabilities. Agripharm is one of the most experienced cannabis extractors and derivative product manufacturers in Canada, having obtained the country's first CO2 extraction license in 2015, and has provided services on a white label, private label or toll-processing basis to more than one dozen brands.
The Company expects to begin monetizing and growing it brands in the Canadian market during the third quarter of this year.
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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.
About Agripharm Corp.
Agripharm is a cannabis producer based in Creemore, Ontario. Founded in 2013, Agripharm is home to the first supercritical CO2 extraction lab in Canada. Agripharm is a joint venture between SLANG Worldwide Inc., Canopy Growth Corp. and Green House Seed Co. Agripharm has exclusive Canadian rights to the intellectual property, strains and brands of Green House Seed Co., one of the preeminent global providers of cannabis genetics, and its sister brand Strain Hunters. Agripharm will also be the Canadian distributor of certain products from SLANG Worldwide's portfolio of leading U.S. consumer cannabis brands.
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 Canada.
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