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Q2 2020 revenue of $4.6 million, a 3% decrease from Q1 2020 revenue of $4.7 million as results were significantly impacted by the COVID-19 crisis; weaker April and May activity was offset by a sales rebound in June Core market revenues were up more than 130% year-over-year in June and more than 4x compared to April, which saw a 50% decline vs. April 2019 Core market sales have continued to accelerate through July and August Pro-forma revenue of $10.1 million, which includes the estimated impact of the previously announced proposed acquisitions, investments, and assets within the SLANG Network(1) SLANG Network assets in core markets generated positive cash flow in June; cash and equivalents of $11.1 million at June 30, 2020, up from $10.4 million on March 31, 2020 Obtained regulatory approvals in core markets of Colorado and Oregon that will pave the way for completion of the Company's previously announced acquisitions Company anticipates solid growth in the second half of 2020 compared to the first half driven by continued strength in core markets, new product launches and traction in newly-entered markets Toronto, Ontario--(Newsfile Corp. - August 27, 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 released financial results for the three and six months ended June 30, 2020. All figures in this press release are stated in Canadian dollars unless otherwise noted. "We were encouraged to see our revenues and margins hold steady in the second quarter despite facing a full three months of the COVID-related challenges that first appeared in March," said SLANG President & CEO Chris Driessen. "These results reflect improvements in June, which offset weak April and May activity driven by the COVID-19 crisis. Additionally, the decisive steps we have taken to adjust to the market environment have led to reduced operating expenses and more efficient use of our cash resources. The success we have experienced since the recovery in June is further proof that we are emerging from the challenges of the first half of the year even stronger, with revenues and momentum exceeding pre-COVID levels." Key Financial and Operational Highlights Q2 2020 Financial Highlights Revenue of $4.6 million in Q2 2020 decreased by 36% compared to Q2 2019 revenue of $7.2 million and declined 3% compared to $4.7 million in Q1 2020. The year-over-year decline is primarily due to the previously announced decision to recalibrate supply chain relationships in California and other emerging markets that management believed were not showing a pathway to profitable growth. The stay-at-home orders associated with the COVID-19 response also adversely affected certain retail locations that sell the Company's branded products. Performance in the Company's core markets (Colorado and Oregon) helped offset decreased revenues in its emerging markets. On a year-over-year basis, core market revenues were down 50% in the month of April, at the height of the pandemic, but recovered by June to deliver a 130% increase over June 2019. Pro-forma revenue of $10.1 million, which includes the estimated impact of the previously announced proposed acquisitions, investments, and assets within the SLANG Network.(1) Gross profit of $2.8 million (62% gross margin) in Q2 2020 compared to gross profit of $3.3 million (45% gross margin) in Q2 2019, as a higher margin profile associated with the licensing sales model helped offset the revenue decrease. Gross profit was consistent with $2.9 million (61% gross margin) reported in Q1 2020. Adjusted EBITDA loss of $1.8 million narrowed in comparison to the Q1 2020 loss of $2.7 million and the Q2 2019 loss of $2.1 million, due to the ongoing realization of cost reductions implemented in recent quarters. Cost reductions from streamlining activities at SLANG and within the SLANG Network have resulted in approximately $10.5 million of annualized cost savings. $11.1 million of cash and cash equivalents at June 30, 2020, compared to $10.4 million at March 31, 2020. The Company continues to operate with a strong cash position that is expected to be sufficient to fund operations through to profitability. Corporate Development Update Subsequent to quarter end, the Company's application for suitability was approved by the Colorado Department of Revenue's Marijuana Enforcement Division. The approval is a required step for the Company to execute on its core market strategy of consolidating its supply chain through the acquisition of "plant-touching" operations such as manufacturing and distribution facilities in Colorado. Subsequent to quarter end, the Oregon Liquor Control Commission has approved the Company as a license holder in Oregon. The approval positions SLANG to consolidate its supply chain in Oregon, including closing the proposed acquisition of Lunchbox Global, LLC ("LBA") by the Company. During Q2 2020, the Company completed the acquisition of Cultivate Brands Corp., a company with a strong cash position and other complementary assets. Operational Highlights Product Diversification: Continuing to bring new product SKUs to market in 2020 through the launch of additional brands in new product verticals and expansion of existing product lines. Concentrates: Introduced Cookies-branded "Terp Sauce" cartridges and O.penVAPE-branded Craft RESERVE Live Resin cartridges in Colorado during the summer of 2020. Flower: SLANG has entered the flower category with the introduction of Cookies-branded flower products in Colorado and Oregon. Flower is typically a top-selling category of the cannabis market. Edibles: Introduced District Edibles to the Oregon market, marking the Company's first entry into edibles in Oregon. Path to Profitability: Accelerating the path to profitability through a rebalancing of the workforce and continued optimization of SLANG Network relationships, resulting in combined annualized savings expected to be approximately $10.5 million. Streamlining efforts were undertaken in the context of a strategic realignment of operations to reflect business realities in the markets where the Company operates and are expected to improve gross margins and accelerate the timeline to consistently positive cash flow. SLANG Network partner assets in Colorado and Oregon are demonstrating the capability for profitable cash flow from operations and we are optimistic for the future as those acquisitions are near completion. Strategic Partnerships: Continuing to recalibrate or strengthen relationships in emerging markets to provide for sustainable and profitable growth. Recent highlights include: the launch of Firefly 2+ vaporizers in Florida at Trulieve Cannabis Corp. retail locations which account for approximately half of cannabis sales by volume in the state; product availability in Oklahoma starting in July 2020 through strategic partner Elite Cultivation LLC; and in Canada, minority-owned licensed producer Agripharm Corp. has received a sales license and announced a supply agreement with the Province of Ontario. Brand Leadership: SLANG's brands continued to earn market-leading positions in its core markets in the second quarter of 2020. Highlights include: Open.VAPE ranked as the #1 vape in Colorado and #6 in Oregon; Firefly Mini was the #4 disposable vaporizer in Colorado; Bakked was the #4 distillate in Oregon and #5 in Colorado; District Edibles was the #9 gummy in Colorado; Pressies was the #4 pill in Colorado. (Source: BDS Analytics.) Key Performance Indicators: 494,000 branded units sold in Q2 2020; 44 million branded servings sold in Q2 2020 (average of approximately 485,000 servings per day). Streamlined Management: As previously announced, the Company has promoted Chris Driessen to President & CEO, John Moynan to Chief Operating Officer & General Counsel, and Mikel Rutherford to Chief Financial Officer. Peter Miller has transitioned from the CEO role to serve as Executive Chairman, while Billy Levy has transitioned from President to a strategic advisor role, and former CFO Kelly Ehler has been elected to the Company's Board of Directors. Strengthened Board of Directors: At the Company's annual meeting held on July 8, 2020, shareholders elected four new board members: Chris Donnelly, Kelly Ehler, Matt Fraser and Robert Verdun. The new directors are expected to contribute considerable expertise in consumer products, marketing, corporate strategy and financial management to the Board of Directors. Outlook for Second Half of 2020 "We remain optimistic about delivering growth in the second half of this year, driven by market fundamentals as well as our own strategic initiatives," said SLANG President & CEO Chris Driessen. "The positive sales momentum that began in June has continued into July and August, indicating that we are past the worst of the COVID-19 impact and signaling a strong third quarter. In addition, we have been active in launching new products and advancing our strategic partnerships in emerging markets. We also expect to begin consolidating our supply chain in core markets through the completion of pending acquisitions." The Company anticipates that momentum being realized throughout the business will lead to stronger results in the second half of 2020. Factors expected to contribute to improved top-line and bottom-line performance include the following: Licensing revenues from recently-signed strategic partners commencing and continuing to grow as those partners introduce products into their local markets; Continued expansion into new emerging markets, such as California and Massachusetts, provided strategic partnerships can be successfully concluded; Increased sales from the Company's recent and ongoing expansion into new product categories and introduction of new brands; The ongoing recovery from the effects of COVID-19 closures, as demonstrated by positive sales trends in July and August; The consolidation of supply chain assets, and a corresponding increase in revenue and margins, resulting from the potential closing of the proposed acquisitions of LBA in Oregon, and Allied Concession Group ("ACG"), Peoria Partners LLC and Pleasant Valley Ranch, LLC in Colorado; Reduced operating expense run-rate as a result of recent streamlining activities; and Continued focus on prudent credit management and prioritization of near-term cash generation. Conference Call The Company will hold a conference call at 10:00 a.m. EDT on Thursday, August 27, 2020 to discuss the Company's Q2 2020 financial results. Dial-in:                       833.529.0214 (toll free) or (+1) 647.689.6824 (local or international calls) Webcast:                   A live webcast can be accessed from the Investors section of Company's website at www.slangww.com or at this link. A replay of the webcast will be archived on the Company's website for one year. Q2 2020 Financial Review The consolidated financial statements were prepared in accordance with IFRS. The following is selected presentation of the Income Statement for the quarters ended June 30, 2020 and June 30, 2019:   Three Months Ended: June 30, 2020 June 30, 2019(Amended) (In thousands except per share data and percentages) CDN CDN NET OPERATING REVENUE $ 4,570 $ 7,194 Cost of goods sold 1,729 3,927 GROSS PROFIT 2,841 3,267 GROSS PROFIT MARGIN 62% 45% Operating expenses 8,678 13,087 OPERATING (LOSS) (5,837) (9,820) Other items (Impairment, FV adjustment, FX, gains/losses, deferred tax recovery, etc.) (8,549) (26,226) TOTAL COMPREHENSIVE INCOME / (LOSS) 2,712 16,406 EARNINGS PER SHARE            Basic $ 0.01 $ 0.08        Diluted $ 0.01 $ 0.06 Gross Margin The Company generated a 62% gross margin in the quarter ended June 30, 2020, which improved from an adjusted gross margin of 45% in Q2 2019. Margin improvements were driven by an increasing emphasis on a licensing model, as well as the Company's refocus on the core markets of Colorado and Oregon. Below is the gross profit margin from operations for the quarters ended June 30, 2020 and June 30, 2019:   Three Months Ended:   June 30, 2020 June 30, 2019 (In thousands except per share data and percentages) CDN CDN Net Operating Revenue $ 4,570 $ 7,194 Cost of goods sold 1,729 3,927 Gross Profit 2,841 3,267 Gross Profit Margin 62% 45% Non-IFRS Measures EBITDA, Adjusted EBITDA, Adjusted Gross Profit, Branded Unit volume and Branded Servings volume are non-IFRS financial measures that the Company uses to assess its operating performance. EBITDA is defined as net earnings (loss) before net finance costs, income tax expense (benefit) and depreciation and amortization expense. Management defines Adjusted EBITDA as EBITDA adjusted for other non-cash items such as the impact of unrealized fair values, share based compensation expense, impairments, one-time gains and losses, and one-time revenues and expenses. Management defines Adjusted Gross Profit as gross profit adjusted for non-recurring items such as fair value adjustments on acquisitions. See the heading "Operations Overview - Branded Volume" in the Company's management's discussion and analysis for the quarter ended June 30, 2020 (the "Q2 2020 MD&A") for a description of how each of Branded Unit volume and Branded Servings volume is calculated. This data is furnished to provide additional information and are non-IFRS measures and do not have any standardized meaning prescribed by IFRS. The Company uses these non-IFRS measures to provide shareholders and others with supplemental measures of its operating performance. The Company also believes that securities analysts, investors and other interested parties, frequently use these non-IFRS measures in the evaluation of companies, many of which present similar metrics when reporting their results. As other companies may calculate these non-IFRS measures differently than the Company, these metrics may not be comparable to similarly titled measures reported by other companies. We caution readers that Adjusted EBITDA should not be substituted for determining net loss as an indicator of operating results, or as a substitute for cash flows from operating and investing activities.   Three MonthsEnded June 30,2020 Three MonthsEnded June 30,2019 (In thousands except per share data and percentages) CDN CDN TOTAL COMPREHENSIVE INCOME $ 2,712 $ 16,406 EBITDA (4,239) (4,287) ADJUSTED EBITDA (1,771) (2,054) See the Company's Q2 2020 MD&A for a detailed reconciliation of EBITDA and Adjusted EBITDA to Operating Income / (Loss). SLANG's financial statements and MD&A for the three months ended June 30, 2020 are available on SEDAR at www.sedar.com, and on the Company's Investor Relations website at www.slangww.com. Issuance of RSUs and Promissory Note The Company announces that it will grant 7,800,000 restricted share units ("RSUs") to directors, officers and a consultant of the Company. 4,050,000 of the RSUs will be subject to vesting provisions and 3,750,000 of the RSUs will be subject to performance-based milestones being achieved. The Company further announces that through ongoing cost cutting measures, it has significantly reduced and deferred certain commitments, some of which will be carried through a convertible unsecured promissory note (the "Note"), to settle current indebtedness of the Company owed to one insider, subject to the approval of the Canadian Securities Exchange (the "Exchange"). The Note has an outstanding principal amount of USD$807,000, accrues interest at the U.S. Prime Rate, matures on August 26, 2023, and is convertible, from time to time, in whole or in part, into Common Shares at a price equal to the greater of (i) the volume-weighted average price of a Common Share on the Exchange for the thirty (30) day period ending on the date prior to which a conversion notice is delivered, and (ii) the minimum price permitted by the Exchange. The Note and any securities issued pursuant to the Note are subject to four month hold period expiring on December 27, 2020. The issuance of the Note constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). This transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to section 5.5(a) and section 5.7(1)(a) as the fair market value of the Note is not more than 25% of the Company's market capitalization. Media and Investor inquiriesInvestors@SLANGww.com 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. Notes: (1) This press release contains references to pro forma financial information, including with respect to pro forma revenues. Pro forma revenues include the estimated revenue for the three month period ended June 30, 2020 for previously announced acquisitions. Such proposed acquisitions include the previously announced proposed acquisitions of LBA and ACG. These acquisitions cannot be consolidated, in the case of ACG, because such acquisition was still under option as at June 30, 2020 and, in the case of LBA, because such acquisition has not yet closed. Pro forma revenues do not include anticipated costs and expenses to generate such revenue. Completion of the proposed acquisitions of LBA and ACG are subject to, among other things, 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 acquisitions (including the receipt of any requisite regulatory and third-party approvals). There can be no assurance that the Company will complete the acquisitions of LBA and ACG. The Company believes the pro forma results presented provide relevant and useful information for investors because they clarify each company's estimated operating performance, making it easier to compare the Company's results with those of other companies in the same industry as the Company and allow investors to review the performance of these companies in the same way as the Company's management. Since these measures are not calculated in accordance with IFRS, they should not be considered in isolation of, or as a substitute for, our reported results as indicators of the Company's performance, and they may not be comparable to similarly named measurements from other companies. Forward-Looking Statements 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 final long form prospectus dated January 17, 2019 and "Risks and Uncertainties" in the Q2 2020 MD&A, 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. Third Party Information This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Toronto, Ontario--(Newsfile Corp. - August 21, 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 Craft RESERVE Live Resin cartridges under O.penVAPE, its leading vaporizer brand. The product represents the Company's entry into the hydrocarbon space. Live Resin is produced using a hydrocarbon extraction method and fresh frozen whole-plant cannabis material from top-performing cannabis strains. Freezing cannabis material immediately after harvest allows for better preservation of the plant's desirable compounds such as terpenes and cannabinoids. This creates a richer flavor profile and delivers a more full-spectrum cannabinoid experience reflective of the plant's genetics. Craft RESERVE Live Resin cartridges offer loud and robust flavor profiles with a full-spectrum cannabinoid experience To view an enhanced version of this image, please visit:https://orders.newsfilecorp.com/files/6983/62234_OpenVAPE_Craft_RESERVE_Live_Resin.jpg Live Resin cartridges will be rolled out across SLANG's Colorado distribution network, which includes approximately 300 dispensaries. The new product is expected to benefit from strong brand recognition and a significant existing customer base, in a state where O.penVAPE is the all-time top-selling vape brand, according to BDS Analytics data since tracking began in 2014. "These pure live resin carts are not only delicious, but will build on our leadership position by offering new options to our rapidly growing base of customers in Colorado," said SLANG CEO Chris Driessen. "This launch is consistent with our strategy of innovating within our core product categories to further differentiate our best-in-class offering. We anticipate using the same extraction methodology to introduce live resin versions in other selected categories in the coming months." Craft RESERVE Live Resin carts will complement SLANG's existing Craft RESERVE Cured Resin carts. Cured Resin is made from dried flower using a low-pressure, subcritical extraction technique that creates a high potency extract. Since its launch in 2017, Craft RESERVE Cured Resin has won awards for best cannabis extract at events that include the High Times Cannabis Cup, Oregon Growers Cup and the THC Classic. Live Resin carts are manufactured at the Allied Concessions Group ("ACG") facility in Boulder, Colorado. The Company continues to work towards the completion of its previously announced proposed acquisition of ACG, consistent with its strategy of consolidating supply chain assets in its core markets. Media and Investor inquiries Investors@SLANGww.com 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. Forward-Looking Statements 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 vape cartridges in Colorado, the anticipated launch of additional live resin products and the proposed acquisition of ACG. 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. Third Party Information This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Toronto, Ontario--(Newsfile Corp. - August 19, 2020) - SLANG Worldwide Inc. (CSE: SLNG) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced details of its planned release of second quarter 2020 financial results. The Company expects to file its Q2 2020 results the morning of Thursday, August 27, 2020 prior to the commencement of stock market trading. Management plans to host an investor conference call that same day at 10:00 am EDT to discuss the results. Conference Call Details  Timing: Thursday, August 27, 2020 at 10:00 am EDT  Dial-in: 833.529.0214 (toll free) or (+1) 647.689.6824 (local or international calls)  Webcast: A live webcast can be accessed from the Investors section of Company's website at www.slangww.com or at this link. A replay of the webcast will be archived on the Company's website for one year.  Slides: An investor presentation to accompany management's remarks will be available on the Company's website and on the webcast page.   Media and Investor inquiriesInvestors@SLANGww.com 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. Forward-Looking Statements 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 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.

Suitability approval clears the way for Company to complete pending acquisitions Toronto, Ontario--(Newsfile Corp. - August 18, 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 the Colorado Department of Revenue's Marijuana Enforcement Division (the "MED") has approved the Company's application for suitability. The approval is a required step for the Company to own "plant-touching" operations such as manufacturing and distribution facilities in the state. "Suitability approval is the key to executing our consolidation strategy in Colorado," said SLANG CEO Chris Driessen. "A fully integrated model will allow us to run a traditional wholesale operation and realize more favorable unit economics, including higher revenue and gross profit." Colorado enacted House Bill 19-1090 in November 2019 to encourage greater investment in the state's cannabis sector. The legislation permits publicly traded companies to own cannabis businesses, provided they successfully complete the MED suitability application process and comply with various other requirements. Ownership of such businesses was previously restricted to private companies with 15 or fewer owners. SLANG considers Colorado to be a core market and has a strategy to consolidate its supply chain in the state. The Company currently focuses on managing intellectual property and employs third parties, such as Allied Concessions Group, Peoria Partners LLC and Pleasant Valley Ranch, LLC, to manufacture and distribute cannabis products within Colorado. A finding of suitability allows the Company to obtain an ownership interest in plant-touching businesses and represents a significant step towards consolidating supply chain assets in Colorado. The Company anticipates that consolidation of its Colorado supply chain would deliver several benefits, including increased revenue and gross profit per unit sold, greater control over production and distribution planning, improved efficiency across the organization and a strengthening of its leadership position in the state. SLANG-branded products have frequently ranked among Colorado's top sellers across multiple categories, including the all-time best-selling vape brand in O.penVAPE, according to BDS Analytics data since tracking began in 2014. Media and Investor inquiriesInvestors@SLANGww.com 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. Forward-Looking Statements 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 potential consolidation of entities in the Company's Colorado supply chain and the expected benefits of such consolidation. 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. Third Party Information This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Toronto, Ontario--(Newsfile Corp. - August 13, 2020) - SLANG Worldwide Inc. (CSE: 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 signed a supply agreement with the Ontario Cannabis Retail Corporation ("OCRC"), operating as the Ontario Cannabis Store ("OCS"). Agripharm expects to supply flower and concentrates under the supply agreement beginning in September 2020 and edibles at a later date. 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. Last month, Agripharm obtained a Health Canada licence to sell extracts and edibles, including SLANG's Firefly, O.penVAPE, Bakked and District Edibles brands, to authorized retailers in Canada. The OCS is Ontario's only legal online retailer for recreational cannabis and the exclusive distributor of recreational cannabis to privately-owned licensed retailers in the province. Ontario is Canada's most populous province with more than 14.5 million residents. "Securing its first supply agreement in its home province is an important milestone for Agripharm," said SLANG Executive Chairman Peter Miller. "It's also great news for Ontario consumers. In addition to SLANG products, consumers will now have consistent access to award-winning strains from Green House Seed Co. and Strain Hunters." The OCRC agreement marks the first provincial supply agreement in Canada for Agripharm, which is also in discussion with other provincial regulatory authorities to secure additional distribution. SLANG, through its wholly-owned subsidiary National Concessions Group Inc. ("NCG"), owns a 20% equity interest in Agripharm, which was obtained in exchange for the rights to use NCG's intellectual property in Canada. SLANG also holds the U.S. rights to Green House Seed Co. and Strain Hunters genetics. Media and Investor inquiries Investors@SLANGww.com 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. Forward-Looking Statements 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 and Green House Seed Co. genetics in Canada. 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. Third Party Information This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

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. To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/6983/59707_slang4.jpg "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. To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/6983/59707_slang2.jpg 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. Media and Investor inquiriesInvestors@SLANGworldwide.co 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 Cookies 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. Forward-Looking Statements 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.

Toronto, Ontario--(Newsfile Corp. - July 10, 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 election of four new directors who will add considerable expertise in consumer products, marketing, corporate strategy and financial management to its Board. Joining SLANG's Board are the following individuals: Chris Donnelly is the founder of four start-up ventures across consumer products, digital marketing, and outdoor advertising. In 2002, Mr. Donnelly helped create the subsidiaries group within Nike. In 2006, Mr. Donnelly joined Oakley as SVP of Global Strategy and Product, where he rebuilt the organizational structure for all 3,000 employees to align the company around its top priorities. Over 9 years, through 450 new retail stores and 4 website launches, he shifted the direct to consumer business from 11% of revenues to 48%. Since 2016, Mr. Donnelly has spent his time advising and investing in consumer businesses. Kelly Ehler is a Chartered Accountant and former auditor with PWC and banker with Bank of Montreal. He has sat on various public company corporate boards and board committees including additional roles as Audit Committee chair. He has led several companies, from start-ups to billion-dollar public companies, as CFO in a variety of industries and countries. His experience covers debt financing, due diligence, acquisitions and dispositions, audits, consolidations, multi jurisdiction entities and multijurisdictional public companies. Mr. Ehler also serves as CFO of SLANG. Matt Fraser is President and COO at CANarchy Craft Brewery Collective ("CANarchy") where he leads all business operations across the portfolio of craft breweries. Under his leadership, CANarchy has grown to the 8th largest craft brewery in the United States and operates 8 manufacturing locations and 16 brewpubs and taprooms. He initially joined CANarchy as CFO, with responsibility for financial reporting and analysis, forecasting and overall budget management. Mr. Fraser previously spent eight years at Lazard Frères in its Middle Market advisory group. Robert (Bob) Verdun specializes in helping businesses with their go to market/growth strategies and effective ways to maximize shareholder value. He has recently been involved in dozens of M&A transactions, advising company owners on strategies for growth, acquisitions, mergers and capital raises. As President and Chief Executive Officer of Computerized Facility Integration, Mr. Verdun established partnerships with some of the leading companies in its industry and became IBM's largest global partner for multiple product lines. "We are very pleased to welcome four new directors with tremendous experience leading and counseling growth companies across a range of sectors. Their insights will be valuable as SLANG continues to execute on its vision of becoming the leading CPG company in the cannabis space," said SLANG Chairman and CEO Peter Miller. "On behalf of the Company, I would also like to thank Chris McElvany, William Stocks and Olaf van Tulder for their contributions to our Board during the crucial early stages of our growth." All seven of the nominees listed in the Management Information Circular dated June 9, 2020 were elected as directors of the Company at its annual and special meeting of shareholders held in a virtual format on July 8, 2020. Re-elected directors include Chris Driessen, Peter Miller and Keith Stein. Messrs. Donnelly, Fraser, Stein and Verdun are all considered independent directors of the Company. Media and Investor inquiries Investors@SLANGworldwide.co 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. Forward-Looking Statements 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 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, 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.

Strong revenue growth in core markets of Colorado and Oregon Delivered first cash flow positive month in June 2020;(1) sales rebounding strongly with lifting of stay-at-home orders Core and emerging market transformation strategy making progress; new markets set to be commercialized throughout remainder of 2020 Continued strong brand performance in core markets sets the stage for new product introductions expected to contribute to second-half revenue Planned restructuring in California and other emerging markets responsible for sequential revenue decline Cost reduction and streamlining initiatives proving effective as the Company operates through challenges related to COVID-19 pandemic 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 released financial results for the three months ended March 31, 2020. All figures in this press release are stated in Canadian dollars unless otherwise noted. "We began the first quarter with solid momentum in our core markets, but this growth was not enough to offset the combined effects of recalibrating our business in certain emerging markets, together with the COVID-19 pandemic," said SLANG CEO Peter Miller. "The decisive actions we took in response to these challenges, along with proactive initiatives designed for the market environment, have positioned us to resume our growth in the second half of the year. We have already begun to see positive signs in June, including our highest monthly sales of the year leading to our first month of cash flow positive operations." Overall Commentary In the first quarter, the Company delivered strong growth and continued momentum in its core markets of Colorado and Oregon. The growth was offset by revenue decreases in the emerging markets of California and Massachusetts, where the Company recalibrated its supply chain relationships to achieve more sustainable and profitable growth. Recalibration efforts in those markets are expected to result in a return to growth in the second half of the year. The other major factor affecting recent results has been the COVID-19 pandemic and response. While the Company has successfully maintained its operations throughout this period and retail cannabis dispensaries have largely remained open as essential businesses, the stay-at-home orders had an overall adverse impact on the business. Many retailers that typically sell the Company's hardware products, such as vaporizers and batteries, were not deemed to be essential and significantly reduced their orders during the shutdown period. Furthermore, the decline in tourism led to decreased business activity for many dispensaries, with resulting effects on the Company's wholesale sales continuing into the second quarter. The Company responded to these events by adjusting business tactics in its core and emerging markets, streamlining its operations to match the current environment, prioritizing cash generation and prudent credit management, and focusing on high margin revenue opportunities. The Company continues to work towards final steps required to complete previously announced acquisitions of Allied Concessions Group ("ACG") and Lunchbox Alchemy ("LBA"). Financial Highlights Revenue of $4.7 million increased 17.5% compared to Q1 2019 reported revenue of $4.0 million, and declined 46% compared to $8.7 million in Q4 2019. The decline compared to Q4 2019 is primarily due to the previously announced decision to recalibrate in California and other emerging markets that management believed were not showing a pathway to profitable growth. During Q1 2020, revenue from California and Massachusetts was down 97% from Q4 2019, and down 99% compared to Q1 2019. In addition, hardware sales were down 81% due to the COVID-19 pandemic, as retailers who were not considered essential businesses were forced to close and did not place their typical quarter-end orders in March. The increase compared to Q1 2019 was driven by growth in the Company's core markets (Colorado and Oregon) during the quarter, which offset the above-mentioned elimination of revenue contributions from California and Massachusetts. Revenue from core markets (Colorado and Oregon) increased by 181% over Q4 2019, and by 757% over Q1 2019. Pro-forma revenue of $11 million which includes the estimated impact of the previously announced proposed acquisitions, investments, and assets within the SLANG Network.(2) Gross profit of $2.9 million (61% gross margin) in Q1 2020 compares to adjusted gross profit of $2.2 million (56% adjusted gross margin) in Q1 2019, reflecting higher sales volumes in core markets and a higher margin profile associated with the licensing sales model. Gross profit declined from $5.5 million (63% gross margin) in Q4 2019 due primarily to the decrease in revenue. Adjusted EBITDA loss of $2.7 million (not inclusive of non-cash items and impairments as described below) exceeded the Q4 2019 loss of $1.6 million, due to the decline in revenue which was not fully offset by cost reductions implemented during Q1 2020. Ongoing cost reductions from streamlining activities at SLANG and within the SLANG Network have resulted in approximately $10.5 million of annualized cost savings. The Company believes it has achieved a level of operating expenses appropriate for current market conditions, while maintaining the flexibility to scale quickly to accommodate growth. $10.4 million of cash and cash equivalents at March 31, 2020. Cash usage during the first quarter included approximately $4.4 million in loans to SLANG Network partners, including material periodic costs such as D&O insurance. During the second quarter, the Company added $4 million of cash to its balance sheet through the acquisition of Cultivate Brands Corp. ("Cultivate"). The Company continues to operate with a strong cash position that is expected to be sufficient to fund operations through to profitability. In June 2020, the Company delivered its first cash flow positive month as it began to realize the impact of previously announced streamlining initiatives as well as a rebound in sales at many key retailers with the easing of COVID-related closures.(1) Year-to-Date Operational Highlights Product Diversification: Continuing to bring new product SKUs to market in 2020 through the launch of additional brands in new product verticals and expansion of existing product lines. Flower: Subsequent to the quarter ended March 31, 2020, SLANG entered the flower category with the introduction of Cookies flower products in Colorado and Oregon under a previously announced partnership with Cookies. Flower is typically a top-selling category of the cannabis market. Edibles: Launched District Edibles Sour Gummies in Colorado and Nevada, and introduced District Edibles to the Oregon market, marking the Company's first entry into edibles in Oregon. Edibles represent approximately 12% of the Oregon market, according to BDS Analytics. Concentrates: Introduced Cookies-branded "Terp Sauce" cartridges in Colorado at the end of the second quarter of 2020. Path to Profitability: Accelerating the path to profitability through a rebalancing of the workforce and continued optimization of SLANG Network relationships, resulting in combined annualized savings expected to be approximately $10.5 million. Streamlining efforts were undertaken in the context of a strategic realignment of operations to reflect business realities in the markets where the Company operates, and are expected to improve gross margins and accelerate the timeline to consistently positive cash flow. Emerging Markets: Continuing to recalibrate or strengthen supply chain relationships most appropriate for each emerging market to provide for sustainable and profitable growth. Recent highlights include: Ohio: announced strategic partnership with Standard Wellness Company, LLC in January 2020; product expected in market Q3 2020. Maine: announced strategic partnership with Wellness Connection of Maine in March 2020; product launched in Q2 2020. Michigan: announced strategic partnership with Gage Cannabis Co. in May 2020. Oklahoma: product expected in market in Q3 2020 through strategic partnership with Elite Cultivation LLC announced in 2019. California and Massachusetts: the Company is in late-stage conversations with operators in both markets with plans to return to those markets in a manner designed to achieve sustainable growth. Canada: Minority-owned licensed producer Agripharm Corp. has received a sales license and expects to have product in market during Q3 2020. Brand Leadership: SLANG's brands continued to earn market-leading positions across multiple product categories and territories in the first quarter of 2020. Highlights include: Open.VAPE ranked as the #1 vape in Colorado and #4 in both Oregon and Nevada; Firefly Mini was the #4 disposable vaporizer in Colorado; Bakked was the #2 distillate in California, and #5 in Colorado, Oregon and Arizona; District Edibles was the #3 gummy in Nevada, #8 in Colorado and #9 in California; Pressies was the #4 pill in Colorado. (Source: BDS Analytics.) 54 million branded servings sold in Q1 2020 (average of approximately 592,000 servings per day) - Branded servings increased by 19% compared to Q1 2019, reflecting a consumer shift towards more premium, larger format product offerings, but declined by 10% from Q4 2019 due to the same factors affecting branded units. 635,000 branded units sold in Q1 2020 - Branded units decreased by 34% compared to Q1 2019, and by 23% versus Q4 2019, primarily due to the recalibration of supply chain relationships in markets such as California and the impact of COVD-19. Streamlined Management: On June 11, 2020, the Company announced an executive transition plan which will result in the promotions of Chris Driessen to President & CEO, John Moynan to Chief Operating Officer and General Counsel, and Mikel Rutherford to Chief Financial Officer. Peter Miller will transition from the CEO role to serve as Executive Chairman, while Billy Levy will transition from President to a strategic advisor role, and Kelly Ehler will transition from his current role as CFO to stand for election to the Company's Board of Directors. Corporate Development Working towards final steps required to complete previously announced acquisitions of ACG and LBA. Subsequent to quarter end, completed the acquisition of Cultivate, a company with a complementary portfolio of intellectual property, cash and other assets. The Company announced that it does not currently expect to exercise its option to acquire NS Holdings, Inc. in the near term. Furthermore, the Company and Arbor Pacific, Inc. have mutually agreed not to pursue the previously announced acquisition, and are actively exploring other accretive ways to work together in their respective markets. "Our priority this year has been to leverage SLANG's unique strengths and flexible business model to tailor our strategy for success in each of our core and emerging markets," said Mr. Miller. "In a highly dynamic environment, our brands continue to resonate with consumers. We will remain focused on operating with agility, optimizing all aspects of our business, and executing on selective initiatives to drive long-term growth and shareholder value. We are very confident in how the Company is positioned as we enter the second half of the year." Outlook for 2020 The conditions that affected the Company's business in the first quarter of 2020 generally continued into the second quarter. In particular, the impact of the COVID-19 stay-at-home orders were felt over the full three months, compared to the last several weeks of the first quarter. The recalibration process in California and Massachusetts was also ongoing, as the Company worked towards establishing sustainable strategic partnerships with new operators in both markets. Performance in the Company's core markets of Colorado and Oregon, as well as its wholesaling business, started slowly and improved towards the end of the second quarter as COVID restrictions were eased. These factors are expected to have an overall adverse impact on the Company's Q2 2020 results. The Company currently anticipates that momentum being realized throughout the business will lead to stronger results in the second half of 2020. Factors expected to contribute to improved top-line and bottom-line performance include the following: Licensing revenues from recently-signed strategic partners commencing and continuing to grow as those partners introduce products into their local markets; The Company's planned re-entry into the California and Massachusetts markets, provided new strategic partnerships can be successfully concluded; Increase sales from the Company's recent and ongoing expansion into new product categories and introduction of new brands; The resumption of economic activity as local economies begin to re-open from COVID-19 closures and travel/tourism resumes; The expected closing of the LBA acquisition during the second half of the year, and the potential closing of the ACG acquisition within this time frame, leading to consolidation of supply chain assets and a corresponding increase in revenue and margins; Positive sales trends in June 2020, which may indicate the start of a bounce-back to pre-COVID sales levels; Reduced operating expense run-rate as a result of recent streamlining activities; and Continued focus on prudent credit management and prioritization of near-term cash generation. "The adversity we faced in the first half of 2020 has made us more resilient, with a reduced cost structure that will help insulate us from further surprises," said current SLANG USA President and incoming CEO Chris Driessen. "Despite the challenges experienced in some areas of the business, our core markets have continued to perform. More importantly, we have been putting building blocks in place to deliver sustainable and profitable growth on multiple fronts. We are excited about how all of these initiatives will play out in the second half of the year." Q1 2020 Financial Review The consolidated financial statements were prepared in accordance with IFRS. The following is selected presentation of the Income Statement for the quarters ended March 31, 2020 and March 31, 2019:   Three Months Ended: March 31, 2020 March 31, 2019(Amended) (In thousands except per share data and percentages) CDN CDN NET OPERATING REVENUE $ 4,690 $ 4,006 Cost of goods sold 1,836 4,190 GROSS PROFIT 2,854 (184) GROSS PROFIT MARGIN 61% (5)% Operating expenses 10,782 11,852 OPERATING (LOSS) (7,928) (12,037) Other items (Impairment, FV adjustment, FX, gains/losses, deferred tax recovery, etc.) 31,069 (2,901) TOTAL COMPREHENSIVE INCOME / (LOSS) 23,141 (14,937) EARNINGS PER SHARE                Basic $ 0.08 $ (0.08)            Diluted $ 0.07 $ (0.08)   Gross Margin The Company generated a 61% gross margin in the quarter ended March 31, 2020, which improved from an adjusted gross margin of 56% in Q1 2019. Margin improvements were driven by a shift to higher margin products, as well as the Company's refocus on the core markets of Colorado and Oregon. Cost of goods sold for Q1 2019 includes a one-time expense related to the acquisitions of National Concessions Group and NWT Holdings LLC (Firefly) which required the Company to record the fair value of the inventory on-hand on consolidation at the time the transactions closed. The adjusted gross profit margin of 56%, as shown in the table below, adjusts for the impact of the inventory adjustment.   Three Months Ended:   March 31, 2020 March 31, 2019 (In thousands except per share data and percentages) CDN CDN Net Operating Revenue $ 4,690 $ 4,006 Cost of goods sold 1,836 4,190 Inventory fair value adjustment - (2,419) Adjusted Gross Profit 2,854 2,234 Gross Profit Margin 61% 56%   Non-IFRS Measures EBITDA, Adjusted EBITDA, Adjusted Gross Profit, Branded Unit volume and Branded Servings volume are non-IFRS financial measures that the Company uses to assess its operating performance. EBITDA is defined as net earnings (loss) before net finance costs, income tax expense (benefit) and depreciation and amortization expense. Management defines Adjusted EBITDA as EBITDA adjusted for other non-cash items such as the impact of unrealized fair values, share based compensation expense, impairments, one-time gains and losses, and one-time revenues and expenses. Management defines Adjusted Gross Profit as gross profit adjusted for non-recurring items such as fair value adjustments on acquisitions. See the heading "Operations Overview - Branded Volume" in the Company's management's discussion and analysis for the quarter ended March 31, 2020 (the "Q1 2020 MD&A") for a description of how each of Branded Unit volume and Branded Servings volume is calculated. This data is furnished to provide additional information and are non-IFRS measures and do not have any standardized meaning prescribed by IFRS. The Company uses these non-IFRS measures to provide shareholders and others with supplemental measures of its operating performance. The Company also believes that securities analysts, investors and other interested parties, frequently use these non-IFRS measures in the evaluation of companies, many of which present similar metrics when reporting their results. As other companies may calculate these non-IFRS measures differently than the Company, these metrics may not be comparable to similarly titled measures reported by other companies. We caution readers that Adjusted EBITDA should not be substituted for determining net loss as an indicator of operating results, or as a substitute for cash flows from operating and investing activities.   Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 (In thousands except per share data and percentages) CDN CDN TOTAL COMPREHENSIVE INCOME (LOSS) $ 23,141 $ (14,937) EBITDA (6,346) (7,800) ADJUSTED EBITDA (2,704) (758)   See the Company's Q1 2020 MD&A for a detailed reconciliation of EBITDA and Adjusted EBITDA to Operating Income / (Loss). SLANG's financial statements and MD&A for the three months ended March 31, 2020 are available on SEDAR at www.sedar.com, and on the Company's Investor Relations website at www.slangww.com. Stock Options and Share Issuances The Company also announces that incentive stock options to acquire an aggregate of 8,839,416 common shares in the capital of the Company ("Common Shares"), with exercise prices ranging from $0.49 to $1.50, held by certain directors, officers, employees and consultants of the Company, have been voluntarily surrendered for cancellation. The Company further announces that it will issue an aggregate of 3,153,838 Common Shares, at a deemed price of $0.15 per Common Share, to 15 employees, including an executive officer, who elected to receive shares in lieu of cash as part of their compensation. The issuance will be completed upon lifting of the Company-imposed insider trading blackout on July 9, 2020. The Company will also issue an aggregate of 909,090 Common Shares, at a deemed price of $0.165 per Common Share, in satisfaction of certain obligations related to the acquisition of Cultivate and which Common Shares are subject to a statutory hold period in Canada, expiring four months and one day from the date of issuance. Conference Call The Company will hold a conference call at 10:00 a.m. EDT on Tuesday, July 7, 2020 to discuss the Company's Q1 2020 financial results. Dial-in:            888.231.8191 (toll free) or (+1) 647.427.7450 (local or international calls)Webcast:        A live webcast can be accessed from the Investors section of Company's website at www.slangww.com orat this link. An archive of the webcast will be available on the Company's website for one year. Slides:            An investor presentation to accompany management's remarks will be available on the Company's websiteand on the webcast page. Replay:           An audio replay of the call will be available for seven days at (+1) 855.859.2056 passcode 8279327. Media and Investor inquiriesInvestors@SLANGworldwide.co 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. Notes: (1) Preliminary and unaudited financial results are subject to customary financial statement procedures by the Company and its auditors. Actual results could be affected by subsequent events or determinations. While the Company believes there is a reasonable basis for these preliminary financial results, the results involve known and unknown risks and uncertainties that may cause actual results to differ materially. These preliminary fiscal results represent forward-looking information. See "Forward Looking Statements". (2) This press release contains references to pro forma financial information, including with respect to pro forma revenues. Pro forma revenues include the estimated revenue for the three month period ended March 31, 2020 for previously announced acquisitions. Such proposed acquisitions include the previously announced proposed acquisitions of and LBA and ACG. These acquisitions cannot be consolidated, in the case of ACG, because such acquisition was still under option as at March 31, 2020 and, in the case of LBA, because such acquisition has not yet closed. Pro forma revenues do not include anticipated costs and expenses to generate such revenue. Completion of the proposed acquisitions of LBA and ACG are subject to, among other things, 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 acquisitions (including the receipt of any requisite regulatory and third-party approvals). There can be no assurance that the Company will complete the acquisitions of LBA and ACG. The Company believes the pro forma results presented provide relevant and useful information for investors because they clarify each company's estimated operating performance, making it easier to compare the Company's results with those of other companies in the same industry as the Company and allow investors to review the performance of these companies in the same way as the Company's management. Since these measures are not calculated in accordance with IFRS, they should not be considered in isolation of, or as a substitute for, our reported results as indicators of the Company's performance, and they may not be comparable to similarly named measurements from other companies. Forward-Looking Statements 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 final long form prospectus dated January 17, 2019 and "Risks and Uncertainties" in the Q1 2020 MD&A, 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. Third Party Information This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

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. Media and Investor inquiriesInvestors@SLANGworldwide.co 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. Forward-Looking Statements 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. 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, 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. Third Party Information This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.