SLANG Worldwide Q1 2023 Earnings Call Details

SLANG Worldwide Announces First Quarter 2023 Conference Call Details

Toronto, Ontario--(Newsfile Corp. - May 17, 2023) - SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced details of its planned release of its first quarter 2023 financial results and conference call. The Company expects to release its financial results for the quarter ended March 31, 2023, before markets open on May 24, 2023. Management plans to host an investor conference call that same day at 10:00 am ET to discuss the results. Timing: Wednesday, May 24th, 2023 at 10:00 am ETDial In: 1(888) 440-5983 (US toll-free) or 1(646) 960-0202 (international)Conference ID: 6291438Webcast: A live webcast can be accessed via the Company's website at www.slangww.com or https://events.q4inc.com/attendee/413638362 About SLANG Worldwide Inc. SLANG Worldwide Inc. is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 13 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, Ceres, Firefly, and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com. To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject. 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 annual information form dated April 27, 2022 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Reader Advisory Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Company ContactMikel Rutherford, CFO833-752-6499 Media and Investor InquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil CarlsonSLANG@kcsa.com
SLANG Worldwide Announces Fourth Quarter and Year End 2022 Financial Results
press release

SLANG Worldwide Announces Fourth Quarter and Year End 2022 Financial Results

Generated positive operational cash flow in Q4 FY2022 and Q1 FY2023, achieving two consecutive quarters of positive operational cash flow1,2.Adjusted gross profit1 of $17.62 million (46% adjusted gross margin1) in FY 2022, compared with $14.47 million adjusted gross profit (38% adjusted gross margin) in FY 2021, representing a 22% increase year-over-year. Cash and cash equivalents of $11.9 million at December 31, 2022, and a clean balance sheet with well-structured debt requiring non-material payments. In September 2022, obtained a recreational retail license in Vermont and opened the state's first recreational cannabis store in Burlington, Vermont. Subsequently, SLANG's sales in the state exceeded $5.38 million in Q4, significantly outpacing forecasted growth for the year, driving full year Vermont sales to $10.96 million. THC free wholesale distribution introduced new higher margin sales in a key growth channel. Toronto, Ontario--(Newsfile Corp. - April 27, 2023) - SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF)("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 twelve months ended December 31, 2022. All figures in this press release are stated in Canadian dollars unless otherwise noted. Key Financial Highlights: Generated positive operational cash flow in Q4 FY2022 and again subsequent to the end of the year in Q1 FY2023, achieving two consecutive quarters of positive operational cash flow1,2. Revenue from continuing operations for FY 2022 was $38.19 million, compared with $37.78 million in FY 2021, representing a 1% increase year-over-year. The primary driver of the increase was the recognition of a full year of revenue from High Fidelity, Inc. ("HiFi") in Vermont, offset by a reduction in revenue resulting from shifting Oregon from a Core Market to an Emerging Market which was completed in Q4 2021, and a reduction in Emerging Market sales. Adjusted gross profit1 of $17.62 million (46% adjusted gross margin1) in FY 2022, compared with $14.47 million adjusted gross profit (38% adjusted gross margin) in FY 2021, representing a 22% increase year-over-year. Adjusted EBITDA1 of ($3.65 million) in FY 2022, compared with ($5.63 million) in FY 2021. The improvement in Adjusted EBITDA is primarily attributable to a $3.16 million increase in Adjusted gross profit, offset by an increase in operating expenditures related to HiFi, which is not presented in the comparative period before August 11, 2021. EBITDA1 of ($8.71 million) in FY 2022, compared with ($17.49 million) in FY 2021. The improvement in EBITDA is primarily attributable to a decrease in operating expenditures (excluding depreciation and amortization) of $7.41 million and an increase in gross profit of $1.32 million. $11.9 million in cash and restricted cash on December 31, 2022, compared to $20.83 million on December 31, 2021. John Moynan, Chief Executive Officer of SLANG, commented, "2022 was a transformational year for SLANG, and the Company is demonstrating exceptional financial performance relative to its peer group. In Q4 FY2022, we achieved positive operational cash flow for the first time in the Company's history, which we also generated subsequent to year end in Q1 FY2023, meaning we have now produced two consecutive quarters of positive operational cashflow. We continue to consolidate our supply chain and streamline our operations to drive financial results across our Core and Emerging markets. In the month of October 2022, we achieved cash flow positivity for the first time in the Company's history. We demonstrated year-over-year adjusted gross margin growth for each quarter of 2022, and we believe this trend will continue as we drive revenue growth in our most profitable channels." Mr. Moynan added, "We continued to demonstrate success in our Core markets of Vermont and Colorado, with several key milestones achieved over the year. Our products maintain leading status in the country's most competitive cannabis markets, with a portfolio of best-in-class brands - in particular, O.pen, which remains today's top selling vape cartridge product in Colorado, a position it has maintained for the last 8 years3. O.pen sales remain strong, and this year the brand has outpaced the competition by a wide margin despite challenging market conditions. In 2023, SLANG is focused on expanding our market share through product sales channels, such as THC-free, to diversify our profitable revenue streams. We will further build upon our successful partnership model to enter new emerging markets in a capital-efficient manner, strategically positioning our brands at the forefront of the industry and SLANG for continued growth." Operational Highlights and Growth Drivers: On September 28, 2022, Vermont regulators issued an integrated marijuana license to the Company allowing the Company to open its CERES Collaborative dispensary on October 1, 2022, Vermont's first recreational cannabis store. O.pen has been ranked the #1 Vape Brand in Colorado each year since 2015, and SLANG launched the 10 Years of O.pen program in October, with special incentives driving record sales for O.pen in Colorado with a 229% increase in sales from August to September. This success prompted a new strategic approach in 2023, focused on structured, brand-driven promotions during key sales periods throughout the year. In the first two O.pen promotions of Q1 2023, the Company has seen its top 5 highest volume accounts deliver a 30-66% year-over-year sales lift. New vertically integrated operations in Vermont generated $11 million in revenue in FY 2022, significantly outpacing the Company's forecasts for the State. Successfully launched Alchemy Naturals Edibles in Colorado in July and e-commerce in September with an 8% growth in dollar sales from July to September. Expanded into new markets, launching operations in Michigan and Maryland in May 2022, and in West Virginia subsequent to year end in April 2023 through strategic partnerships with leading, high-quality premium cannabis brands and operators in those states. Financial Year 2022 Corporate Updates In October, Mr. John Moynan was promoted to Chief Executive Officer of the Company and Ms. Ruth Chun, an independent director of the Company, was appointed Chair of the Board. Announced newly formulated M&A and Investment Committee chaired by independent board member Kevin Albert. Fourth Quarter 2022 Financial Highlights Revenue from continuing operations for the three months ended December 31, 2022, was $11.78 million, compared with $8.84 million in the three months ended December 31, 2021, representing a 33% increase year-over-year. The primary drivers of the increase were an increase in our Core Market sales of $0.46 million in Colorado and $3.37 million in Vermont, offset by a decrease in our Emerging Market sales of $0.86 million. Gross profit of $4.70 million (40% gross margin) in Q4 2022, compared with $4.10 million (46% gross margin) in Q4 2021, representing a 6% decrease year-over-year. Gross profit before fair value of biological assets was $5.70 million (48% gross margin) in Q4 2022, compared with $3.34 million (38% gross margin) in Q4 2021, representing a 71% increase year-over-year. Adjusted EBITDA of ($.056 million) in Q4 2022, compared with ($2.90 million) in Q4 2021. The improvement in Adjusted EBITDA is primarily attributable to a $2.36 million increase in gross profit before fair value adjustments on biological assets, and decreases in consulting and subcontractor operating expenses. EBITDA of ($1.82 million) in Q4 2022, compared with ($4.87 million) in Q4 2021. The improvement in EBITDA is primarily attributable to an increase in gross profit of $0.60 million and decreases in operating expenditures consisting mainly of consulting and subcontractors, share based payments, and expected credit losses. Full Year 2022 Financial Review The consolidated financial statements were prepared in accordance with IFRS. The following is a selected presentation of the Income Statement for the three and twelve months ended December 31, 2022.   3 months ended 3 months ended 12 months ended 12 months ended   31-Dec-22 31-Dec-21 31-Dec-22 31-Dec-21 (In thousands except per share data and percentages) CDN CDN CDN CDN Net Operating Revenue From Continuing Operations $ 11,777 $ 8,838 $ 38,189 $ 37,777 Cost of Goods Sold 6,077 5,501 20,566 23,311 Gross Profit Before Fair Value Adjustment of Biological Assets 5,700 3,337 17,623 14,466 Realized fair value amounts included in inventory sold (1,298 ) (501 ) (2,976 ) (886 ) Unrealized gain on fair value of biological assets 293 1,264 1,799 1,547 Gross Profit 4,695 4,100 16,446 15,127 Gross Profit Margin 40% 46% 43% 40% Operating expenses 8,167 11,053 31,332 40,463 Operating Loss (3,472 ) (6,953 ) (14,886 ) (25,336 ) Other items (Impairment, FV adjustment, FX, gains/losses, taxes, etc.) 13,483 30,149 14,767 31,197 Total Comprehensive Loss (16,955 ) (37,102 ) (29,653 ) (56,533 ) Earnings Per Share From Continuing Operations         Basic $ (0.15 ) $ (0.39 ) $ (0.29 ) $ (0.60 ) Diluted $ (0.15 ) $ (0.39 ) $ (0.29 ) $ (0.60 )     3 months ended 3 months ended 12 months ended 12 monthsended 31-Dec-22 31-Dec-21 31-Dec-22 31-Dec-21 (In thousands except per share data and percentages) CDN CDN CDN CDN Net Operating Revenue From Continuing Operations $ 11,777 $ 8,838 $ 38,189 $ 37,777 Cost of Goods Sold 6,077 5,501 20,566 23,311 Realized fair value amounts included in inventory sold (1,298 ) (501 ) (2,976 ) (886 ) Unrealized gain on fair value of biological assets 293 1,264 1,799 1,547 Cost of Goods Sold 7,082 4,738 21,743 22,650 Gross Profit 4,695 4,100 16,446 15,127 Gross Profit Margin 40% 46% 43% 40% Gross Profit before FV adjustment 5,700 3,337 17,623 14,466 Gross Profit Margin before FV adjustment   48% 38% 46% 38%        3 monthsended 3 months ended 12 months ended 12 monthsended 31-Dec-22 31-Dec-21 31-Dec-22 31-Dec-21 (In thousands except per share data and percentages) CDN CDN CDN CDN Total Comprehensive Loss $ (16,955 ) $ (37,102 ) $ (29,653 ) $ (56,533 ) EBITDA (Non-IFRS) (1,822 ) (4,866 ) (8,710 ) (17,487 ) Adjusted EBITDA (Non-IFRS) (56 ) (2,896 ) (3,645 ) (5,626 )   See the Company's management's discussion and analysis for the three and twelve months ended December 31, 2022 (the "Q4 2022 MD&A") for a detailed reconciliation of EBITDA and Adjusted EBITDA to Operating Income / (Loss). SLANG's financial statements and the Q4 2022 MD&A are available on SEDAR at www.sedar.com, and on the Company's Investor Relations website at www.slangww.com. Non-IFRS Measures EBITDA, Adjusted EBITDA, adjusted gross profit, adjusted gross margin and operational cash flow 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 before fair value adjustment of biological assets. Management defines adjusted gross margin as gross margin before fair value adjustment of biological assets. Management defines operational cash flow as cash flow of the business excluding milestone payments made in connection with the Company's acquisition of HiFi, pursuant to an Agreement and Plan of Merger dated June 25, 2021, as amended. 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. During 2022 the Company updated its definition of Adjusted EBITDA to include the impact of fair value amounts included in inventory sold and unrealized gain on changes in fair value of biological assets. The comparative 2021 figures have been updated to conform to this current period presentation. Conference Call Details Management plans to host an investor conference call today, April 27, 2023, at 10:00am ET to discuss the results. Timing: Thursday, April 27th, 2023 at 10:00 am ET Dial In: 1(888) 440-5983 (US toll-free) or 1(646) 960-0202 (international)Conference ID: 6291438Webcast: A live webcast can be accessed via the Company's website at www.slangww.com or https://events.q4inc.com/attendee/442824694 About SLANG Worldwide SLANG Worldwide Inc. is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 13 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, Ceres, Firefly, and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com. 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 the Q3 2022 MD&A and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Financial Outlook This news release contains a financial outlook within the meaning of applicable Canadian securities laws. The financial outlook has been prepared by management of the Company to provide an outlook for the Company's operational cash flow for the three months ended March 31, 2023 and may not be appropriate for any other purpose. The financial outlook has been prepared based on a number of assumptions including the assumptions discussed under the heading "Forward-Looking Statements". The actual results of the Company's operations for any period will likely vary from the amounts set forth in these projections and such variations may be material. The Company and its management believe that the financial outlook has been prepared on a reasonable basis. However, because this information is highly subjective and subject to numerous risks, including the risks discussed under the heading "Forward-Looking Statements", it should not be relied on as necessarily indicative of future results. 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. Company ContactMikel Rutherford, CFO833-752-6499 Media and Investor Inquiries Investors@SLANGww.com KCSA Strategic Communications Phil Carlson SLANG@kcsa.com 1 See "Non-IFRS Measures".2 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" and "Financial Outlook".3 According to BDSA data.
SLANG Worldwide Announces Fourth Quarter and Full Year 2022 Financial Results Conference Call Details

SLANG Worldwide Announces Fourth Quarter and Full Year 2022 Financial Results Conference Call Details

Toronto, Ontario--(Newsfile Corp. - April 20, 2023) - SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced details of its planned release of its fourth quarter and full year 2022 financial results and conference call. The Company expects to release its financial results for the quarter and full year ended December 31, 2022, before markets open on April 27, 2023. Management plans to host an investor conference call that same day at 10:00 am ET to discuss the results. Timing: Thursday, April 27th, 2023 at 10:00 am ETDial In: 1(888) 440-5983 (US toll-free) or 1(646) 960-0202 (international)Conference ID: 6291438Webcast: A live webcast can be accessed via the Company's website at www.slangww.com or https://events.q4inc.com/attendee/442824694 About SLANG Worldwide Inc.SLANG Worldwide Inc. is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 13 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, Ceres, Firefly, and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com. To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject. Forward-Looking StatementsThis news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's annual information form dated April 27, 2022 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Reader Advisory Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Company ContactMikel Rutherford, CFO833-752-6499 Media and Investor InquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil CarlsonSLANG@kcsa.com
SLANG Shareholder Letter_March23

SLANG Worldwide CEO Provides Business Update Letter to Shareholders

Toronto, Ontario--(Newsfile Corp. - March 22, 2023) - SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today issued a letter to shareholders from its Chief Executive Officer, John Moynan. To our Shareholders, As we reflect on our fiscal fourth quarter, I would like to take this opportunity to discuss how our continued efforts to optimize the business have continued to produce results. We have built a scalable, nimble and efficient business centered on our unique ability to distribute our award-winning brands. Despite challenging market conditions, SLANG continues to thrive in many of the U.S.'s most competitive cannabis markets. Our team has clearly differentiated SLANG as a company that consistently builds and maintains its market share amidst a crowded industry of multi-state operators and competitive brands. Our success this past year is a direct result of our commitment to successfully advancing our streamlined business strategy, which continues to prioritize geographic expansion through strategic partnership. We continue to expand our footprint while leveraging a vertically-integrated operational infrastructure in our Core Markets, Colorado and Vermont, as the backbone of our brand and national distribution. Our ability to operate a lean, efficient, and streamlined operation has had a clear impact on our revenue and margins. I am pleased to report that due to the strength of the SLANG business model, we significantly reshaped our financial results in 2022 and set SLANG on a course for continued profitable growth for the remainder of 2023. In Q4, SLANG generated positive operating cash flow1, and as a result, at the close of our fiscal year 2022, SLANG was operating with a much-improved financial position. As of December 31, 20222, Cash and cash equivalents were $11.9 million CDN; Clean balance sheet - minimal debt composed of non-material payments; Continued margin expansion, increasing to 46.4% for Fiscal Year 2022 compared to 38.3% in Fiscal Year 2021; In Colorado, O.pen cartridge sales outperformed the category by 13.5% in H2 2022 vs. H2 2021; New vertically integrated operations in Vermont generated $4MM in revenue, significantly outpacing our forecast for the State; and THC free wholesale distribution introduced new higher margin sales in a key growth channel. As you can see, our results show sales momentum as we continue to meet increased demand for our award-winning products in both our Emerging and Core Markets. We continue to keep an eye on the evolving cannabis industry, innovating within our core competencies to further build our brand while operating in the most efficient manner. To this end, we remain focused on consistently undergoing SKU-rationalization, further improving the supply chain and closely following consumer trends to advance strong-performing assets while eliminating weaker ones. We pride ourselves on our ability to succeed in today's most competitive cannabis markets, building a portfolio of best-in-class brands that consumers consistently select over other cannabis products. O.pen remains today's top selling vape cartridge product in Colorado, a position it has maintained for the last 8 years, according to BDSA data. Most notably, despite operating within a declining market category, O.pen sales remain strong, and this year the brand has outpaced the competition by a wide margin despite challenging market conditions. In addition, we remain focused on the rapidly changing cannabis legalization landscape and continue to successfully enter today's rapidly growing emerging cannabis. We recently announced our entry into West Virginia through our strategic partnership with Trulieve Cannabis Corp., placing our products now in 13 states that are demonstrating strong growth and driving the brand metrics which we believe will drive long-term value. As we continue to expand our market share across the most competitive markets, we are focused in 2023 on further leveraging our robust, vertically-integrated operations to advance existing and new product sales channels, such as THC-free, to further diversify our profitable revenue streams. We will continue to build upon our successful partnership model to enter new emerging markets in a capital-efficient manner, strategically positioning our brands at the forefront of the industry. Once again, I would like to thank our Board of Directors, management team and shareholders for their ongoing support. Regards,John MoynanChief Executive OfficerSLANG Worldwide About SLANG Worldwide Inc. SLANG Worldwide Inc. is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 15 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, Ceres, Firefly, and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com. To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject. Forward-Looking StatementsThis 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 Company's expected performance for certain metrics for the three and twelve months ended December 31, 2022. 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 changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations, the COVID-19 global pandemic and the other risks identified under the headings "Risk Factors" in SLANG's annual information form dated April 27, 2022 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Financial Outlook This news release contains a financial outlook within the meaning of applicable Canadian securities laws. The financial outlook has been prepared by management of the Company to provide an outlook for the Company's cash and cash equivalents, margin and revenue in Vermont for the three and twelve months ended December 31, 2022 and may not be appropriate for any other purpose. The financial outlook has been prepared based on a number of assumptions including the assumptions discussed under the heading "Forward-Looking Statements". The actual results of the Company's operations for any period will likely vary from the amounts set forth in these projections and such variations may be material. The Company and its management believe that the financial outlook has been prepared on a reasonable basis. However, because this information is highly subjective and subject to numerous risks, including the risks discussed under the heading "Forward-Looking Statements" above, it should not be relied on as necessarily indicative of future results. Non-IFRS Measures Operating Cash Flow is a non-IFRS financial measure that the Company uses to assess its operating performance. Operating cash flow is defined as cash flow of the business excluding the milestone payments made in connection with the Company's acquisition of High Fidelity, Inc. pursuant to an Agreement and Plan of Merger dated June 25, 2021, as amended. This data is furnished to provide additional information and is a non-IFRS measure and does not have any standardized meaning prescribed by IFRS. The Company uses this non-IFRS measures to provide shareholders and others with supplemental measures of its operating performance. As other companies may calculate this non-IFRS measure differently than the Company, this metric may not be comparable to similarly titled measures reported by other companies. Company ContactMikel Rutherford, CFO833-752-6499 Media and Investor InquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil CarlsonSLANG@kcsa.com 1 Operating cash flow is defined as cash flow of the business excluding milestone payments made in connection with the Company's acquisition of High Fidelity, Inc. pursuant to an Agreement and Plan of Merger dated June 25, 2021, as amended. See "Non-IFRS Measures".2 These preliminary and unaudited financial results are subject to customary financial statement procedures by the Company. 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" and "Financial Outlook".
slang worldwide launches in west virginia

SLANG Worldwide Launches O.pen in West Virginia Through Strategic Partnership with Trulieve

Toronto, Ontario--(Newsfile Corp. - March 3, 2023) - SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), one of the leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced it has launched its industry-leading vape brand, O.pen, in West Virginia through its strategic partnership with Trulieve Cannabis Corp. ("Trulieve"), one of the leading and top-performing cannabis companies based in the United States. The O.pen brand, which recently celebrated 10 years of success, has become one of the most recognized and best-selling vape brands in the country, selling over 12 million total vape products since its inception in 2012. As part of the strategic partnership with Trulieve, O.pen vape products will be sold in Trulieve's nine West Virginia retail locations and through its wholesale network composed of 40 dispensaries throughout the state, with this number continuing to grow as demand continues to build. John Moynan, CEO of SLANG, said, "Our entry into the West Virginia market is extremely timely as West Virginia's medical cannabis market continues to evolve and consumers increasingly look for today's most popular cannabis products. O.pen has remained a top-performing vape brand for over 10 years and we are seeing stronger product sales and increased market share in our core markets more than ever before. Entering the West Virginia market through our longstanding partnership with Trulieve, who has established a leadership presence in West Virginia since launching the first medical dispensary in that state, provides a key opportunity to quickly add a new revenue stream to our business and supports our overall mission to build a national brand." This new partnership agreement expands upon the Company's longstanding strategic alliance with Trulieve, which began in July 2019 with the successful launch of SLANG's products in three states across the country, including, Maryland, Massachusetts and Florida. "Our ability to enter new, emerging cannabis markets through our strategic partnership model allows us to secure a position as an early entrant in each market that demonstrates the near-term opportunity for recreational legalization. For the past three years, Trulieve has played an integral role in positioning our expanding SLANG product portfolio on the shelves of today's largest and fastest growing cannabis markets and we look forward to building upon this success as the cannabis industry continues to evolve," concluded Moynan. Gina Collins, Trulieve's Chief Marketing Officer, stated, "Our partnership with SLANG allows us to exclusively introduce O.pen into West Virginia at our dispensaries. As we continue to build our presence in the state, the addition of SLANG's market-leading vape furthers our ability to deliver the highest quality of cannabis products and customer experiences to our growing patient base." About SLANG Worldwide Inc.SLANG Worldwide Inc. is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 15 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, Ceres Collaborative, Firefly, and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com. To be added to SLANG's email distribution list, please email SLANG@kcsa.com with "SLNG" in the Subject. About TrulieveTrulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with established hubs in the Northeast, Southeast, and Southwest, anchored by leading market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com. Forward-Looking StatementsThis news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's annual information form dated April 27, 2022 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Company ContactMikel Rutherford, CFO833-752-6499 Media and Investor InquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil CarlsonSLANG@kcsa.com Reader AdvisoryNeither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SLANG Worldwide Announces Issuance of Additional Consideration in Connection with HiFi Acquisition

SLANG Worldwide Announces Issuance of Additional Consideration in Connection with HiFi Acquisition

Toronto, Ontario--(Newsfile Corp. - February 13, 2023) - SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods ("CPG") company with a diversified portfolio of popular brands, has issued an aggregate of 100,167,654 restricted voting shares in the capital of the Company (each a "Restricted Share") to the former shareholders of High Fidelity, Inc. ("Hi-Fi"), as post-closing additional consideration in connection with the Vermont regulators issuing a retail marijuana license to the Company on September 28, 2022. The acquisition of HiFi was completed on August 12, 2021 and the Company announced the opening of its first recreational cannabis store in Vermont on October 1, 2022. John Moynan, Chief Executive Officer of SLANG, stated, "Our acquisition of Hi-Fi in August 2021 quickly placed SLANG in the center of one of the country's fastest growing cannabis markets and opened the door to a number of key near and long-term growth opportunities. We are already recognizing better than anticipated adult-use sales from our Ceres Collaborative Dispensary, and believe that this retail footprint, supported by our newly acquired vertically-integrated operational infrastructure in Vermont, will drive a new level of financial growth for SLANG. We very quickly established Vermont as a key core market for our continued growth and look forward to building upon our initial success to further elevate SLANG's industry-leading market position. Hi-Fi has a strong history operating as Vermont's largest medical cannabis company and we are excited to play a leading role in Vermont's adult-use market as we further their initial success." About SLANG Worldwide Inc. SLANG Worldwide Inc. is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 15 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, Ceres Collaborative, Firefly, District Edibles and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com. To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject. Company ContactMikel Rutherford, CFO833-752-6499 Media and Investor InquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil CarlsonSLANG@kcsa.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, changes in laws, resolutions and guidelines, market risks, risks related to the COVID-19 global pandemic, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's annual information form dated April 27, 2022 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Reader Advisory Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SLANG Worldwide Q3 2022 Financial Results

SLANG Worldwide Announces Third Quarter 2022 Financial Results

Completes Integration of Acquired Vermont Cannabis Operations in Preparation for Launch of Adult-Use Sales Successfully Launched Alchemy Naturals in Colorado Leveraged New Streamlined Infrastructure in Vermont and Colorado to Sustain Higher Gross Margins and Increase Cash Flow Toronto, Ontario--(Newsfile Corp. - November 29, 2022) - SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today released financial results for the three and nine months ended September 30, 2022. All figures in this press release are stated in Canadian dollars unless otherwise noted. John Moynan, CEO of SLANG, said, "As I was appointed CEO in October, SLANG had been set on a new growth trajectory as we neared the completion of our operational restructuring. In the third quarter, SLANG strategically advanced upon a number of key growth opportunities in our Core Markets of Colorado and Vermont which have significantly enhanced our leadership position and are now driving a new level of financial success. Most notably, we completed the integration of our newly acquired Vermont cannabis operations and successfully launched adult-use sales in our Burlington store in October as the first adult-use dispensary in the state. As sales continue to build from the launch of new products, we face a greater opportunity to serve a more expansive consumer base and believe Vermont will serve as a key revenue channel for our business." "Despite a weakening in the Colorado market in the quarter, our O.pen brand continued to perform strongly and remains the top selling vape product in the market. Once again, O.pen was recognized as Colorado's best vape product by BDSA, generating $3.8 million in retail sales in September, $1.5 million more than the nearest branded competitor and private label competitor. We exceeded our sales projections for the month of October and believe that, as demand continues to build for O.pen, as well as our newly launched Alchemy products, we will continue to see steady financial growth from these products going forward. This is perhaps the most exciting time in SLANG's history. We are operating more efficiently than ever before and we have a clear path towards profitability." Third Quarter 2022 Operational Highlights and Growth Drivers: Vermont regulators issued a retail marijuana license to the Company on September 28, 2022, allowing the Company to open its Ceres Collaborative dispensary on October 1, 2022, Vermont's first adult-use cannabis store; Successfully launched Alchemy Naturals Edibles in Colorado in July and e-commerce in September with an 8% growth in dollar sales from July to September; Sustained margin improvement of 44% along with significant reduction in operational expenses; Increased Colorado sales as one of the Company's key accounts delivered a 229% increase in sales from August to September. SLANG achieved total Colorado sales growth for the month of September of 44.5% year-over-year and 75% from August, significantly beating the Company's overall quarterly sales forecast in Colorado by 12%. Subsequent Quarterly Operational Highlights: Cash flow positive in October[1]; Kicked off 10 Years of O.pen Program in October with the launch of special incentives driving strong October product sales; O.pen ranked #1 Vape Brand in Colorado for its 20 month since 2019; Adult-use sales in Vermont began October 1, 2022. Third Quarter 2022 Financial Highlights Revenue from continuing operations for the three months ended September 30, 2022 ("Q3 2022") was $8.17 million, compared with $9.36 million in the three months ended September 30, 2021 ("Q3 2021"), representing a 13% decrease year-over-year. The primary drivers of the decrease were due to a reduction of $0.87 million in sales in our non-core markets sales, a reduction of $0.78 million in Firefly 2+ sales and a reduction of $0.29 million in Colorado Core Market sales, offset by a $0.75 million increase in revenue associated with the acquisition of High Fidelity, Inc. ("HiFi") completed on August 11, 2021. Gross profit of $3.60 million (44% gross margin) in Q3 2022, compared with $3.46 million (37% gross margin) in Q3 2021, representing a 4% increase year-over-year. Despite the decrease in revenue year-over-year, gross profit increased due to lower cost of raw cannabis inputs in Colorado, higher margins associated with HiFi's retail operations, and two previously completed strategic initiatives being the elimination of low-margin Oregon sales and the elimination of low margin products via an internal SKU rationalization process. EBITDA of ($3.43 million) in Q3 2022, compared with ($5.54 million) in Q3 2021. The improvement in EBITDA is primarily attributable to a reduction of $1.86 million in expected credit losses and an increase in gross profit of $0.14 million. Adjusted EBITDA of ($1.24 million) in Q3 2022, compared with ($1.56 million) in Q3 2021. The improvement in Adjusted EBITDA is primarily attributable to a $0.45 million increase in gross profit before fair value adjustments on biological assets, offset by an increase in operating expenditures related to HiFi, which is not presented in the comparative period before August 11, 2021. $12.23 million in cash and restricted cash on September 30, 2022, compared to $20.83 million on December 31, 2021, and $15.72 million on June 30, 2022. EBITDA and Adjusted EBITDA are non-IFRS financial measures that is further described under the section "Non-IFRS Measures" herein. Third Quarter 2022 Consolidated Financial Statements The consolidated financial statements were prepared in accordance with IFRS. The following is selected presentation of the Income Statement for the three months ended September 30, 2022. 3 months ended 30-Sept-22 3 months ended 30-Sept-21 (In thousands except per share data and percentages) CDN$ CDN$ Net Operating Revenue from Continuing Operations $8,170 $9,357 Cost of Goods Sold 4,152 5,790 Gross Profit Before Gain on Fair Value of Biological Assets 4,018 3,567 Realized fair value amounts included in inventory sold (584) (385) Unrealized gain on fair value of biological assets 170 282 Gross Profit 3,604 3,464 Gross Profit Margin 44% 37% Operating expenses 8,591 10,958 Operating Loss (4,987) (7,494) Other items (Impairment, FV adjustment, FX, gains/losses, taxes, etc.) 347 1,801 Total Comprehensive Income (Loss) (4,640) ($5,693) Earnings Per Share Basic ($0.06) ($0.08) Diluted ($0.06) ($0.08)   3 months ended 30-Sept-22 3 months ended 30-Sept-21 (In thousands except per share data and percentages) CDN$ CDN$ Total Comprehensive Income (Loss) (4,640) ($5,693) EBITDA (3,430) (5,541) Adjusted EBITDA (1,239) (1,555)   See the Company's management's discussion and analysis for the three months ended September 30, 2022 (the "Q3 2022 MD&A") for a detailed reconciliation of EBITDA and Adjusted EBITDA to Operating Income / (Loss). SLANG's financial statements and the Q3 2022 MD&A are available on SEDAR at www.sedar.com, and on the Company's Investor Relations website at www.slangww.com. Subsequent to the third quarter of 2022, the Company has also granted 4,733,526 incentive stock options (the "Options") to acquire common shares in the capital of the Company with an exercise price to equal the greater of: (i) the closing market price on November 30, 2022; and (ii) the closing market price on December 1, 2022, to its independent directors. The Options are subject to vesting provisions and are non-transferrable. Non-IFRS Measures EBITDA and Adjusted EBITDA 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. 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. Conference Call Details Management plans to host an investor conference call today, November 29, 2022 at 10:00am ET to discuss the results. Timing: Tuesday, November 29, 2022 at 10:00am ET Dial-in: 1(888) 440-5983 (US toll-free) or 1(646) 960-0202 (international) Conference ID: 6291438 Webcast: A live webcast can be accessed via the Company's website at www.slangww.com or at https://events.q4inc.com/attendee/564712700 A replay of the webcast will be archived on the Company's website for one year.   About SLANG Worldwide SLANG Worldwide is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 15 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, CeresMED, Firefly, District Edibles and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com. 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 the Q3 2022 MD&A and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Financial Outlook This news release contains a financial outlook within the meaning of applicable Canadian securities laws. The financial outlook has been prepared by management of the Company to provide an outlook for the Company's cash flow for the month ended October 31, 2022 and may not be appropriate for any other purpose. The financial outlook has been prepared based on a number of assumptions including the assumptions discussed under the heading "Forward-Looking Statements" above. The actual results of the Company's operations for any period will likely vary from the amounts set forth in these projections and such variations may be material. The Company and its management believe that the financial outlook has been prepared on a reasonable basis. However, because this information is highly subjective and subject to numerous risks, including the risks discussed under the heading " Forward-Looking Statements" above, it should not be relied on as necessarily indicative of future results. 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. Media and Investor InquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil CarlsonSLANG@kcsa.com __________________________[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. Preliminary fiscal results represent forward-looking information. See "Forward-Looking Statements" and "Financial Outlook".
q3 2022 earnings call details

SLANG Worldwide Announces Third Quarter 2022 Conference Call Details

Toronto, Ontario--(Newsfile Corp. - November 21, 2022) - SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced details of its planned release of its third quarter 2022 financial results and conference call. The Company expects to release its financial results for the quarter ended September 30, 2022 before markets open on November 29, 2022. Management plans to host an investor conference call that same day at 10:00 am ET to discuss the results. Timing: Tuesday, November 29th, 2022 at 10:00 am ETDial In: 1(888) 440-5983 (US toll-free) or 1(646) 960-0202 (international)Conference ID: 6291438Webcast: A live webcast can be accessed via the Company's website at www.slangww.com or https://events.q4inc.com/attendee/594492935 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. SLANG specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. For more information, please visit www.slangww.com. To be added to SLANG's email distribution list, please email SLANG@kcsa.com with "SLNG" in the Subject. Forward-Looking StatementsThis news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's annual information form dated April 27, 2022 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Company ContactMikel Rutherford, CFO833-752-6499 Media and Investor InquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil CarlsonSLANG@kcsa.com
o.pen vape pen

SLANG Worldwide’s O.pen, the Original Vape Pioneer, Celebrates Ten Years in Business and the ‘Long Strange Trip’ of Adult-use Cannabis Legalization

The OG THC Vape Brand Kicks Off Month-Long Celebrations With a $10K Last Prisoner Project Donation, Commemorative Pen and Promotions at Dispensaries Nationwide TORONTO--(BUSINESS WIRE)--SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced the Company’s industry-leading vape cartridge, O.pen, is celebrating a decade of success and adult-use cannabis legalization in the state of Colorado with the number 10 appearing in multiple incentives throughout October, the 10th month of the year — starting with a $10,000 donation to The Last Prisoner Project, a non-profit organization dedicated to criminal justice reform. A tried and true industry leader, O.pen helped redefine modern cannabis by introducing an elevated consumption experience and popularized the 510-thread vape pen, a universal battery that supports any cannabis cartridge and now is the industry standard. To mark this milestone achievement, O.pen launched its special edition 10-Year Anniversary 2.0 Battery and limited-edition, commemorative THC cartridge packaging that’s designed to honor this milestone for both the business and cannabis legalization as a whole. “It’s rare for a brand in the cannabis industry to withstand the test of time, much less for ten years,” said Brittany Hallett, Vice President of Marketing at SLANG Worldwide. “O.pen was on the front lines right as recreational marijuana was legalized in Colorado and to say we’re proud that we’ve come this far is an understatement. While it’s certainly been a ‘long, strange trip’ during these ten years since adult-use cannabis legalization, we're looking forward to another decade as Colorado’s favorite cannabis vape pen.” Founded in October of 2012, O.pen came to market with a strong product that differentiated itself during the height of the industry’s “green rush.” At a time when the industry had an air of get-rich-quick schemes and shady business practices, O.pen was the first brand to singularly put consistency, repeatability and trust above all, while focusing on reaching new non-endemic audiences. O.pen was also one of the first cannabis brands to do in-store education via pop-ups, give away its batteries for free, offer a lifetime product warranty—which still exists today—and utilized sleek branding that fostered trust with consumers and support broadening the reach for the typical cannabis consumer. Since the brand’s inception, O.pen has sold upwards of 12 million total vape products across oil and hardware formats. According to cannabis research company BDSA, O.pen has held the top spot for “Best Vape Cartridge Brand in Colorado” for a total of 20 months since 2019, further supported by the 10 awards that the brand’s THC cartridges have won. O.pen has decorated the cartridges’ packaging with gold markings and a silhouette of the pen to honor the Company’s alignment with Colorado’s 10-year anniversary of cannabis legalization. “We chose The Last Prisoner Project as the beneficiary of our donation because we see it as a symbol of the friction that still exists in the cannabis industry today,” Hallett said. “O.pen has benefited from the value of the cannabis plant for 10 years as a business, while there are still people serving life sentences in jail for cannabis trafficking. We see it as an acknowledgment of how far we’ve come, and how much work there is still to be done for social equity in cannabis.” In addition to Colorado, O.pen licensees in Florida, New Mexico, Maryland and Massachusetts are participating in promotions intermittently throughout October, with the offer amount subject to change. For more information on where to buy O.pen products, visit openvapeshop.com. About SLANG Worldwide SLANG Worldwide is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 15 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, CeresMED, Firefly, District Edibles and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com. 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. 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