SLANG Worldwide Archives - Green Market Report

StaffStaffApril 6, 2021
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Slang Worldwide Inc. (OTCQB: SLGWF) delivered preliminary, unaudited, selected financial results for the full year and three months ended December 31, 2020. The fourth-quarter revenue was $9.6 million, which grew sequentially from the third-quarter revenue of $7.9 million and topped last year’s revenue of $8.7 million for the same time period.

For the full year of 2020 Slang said its revenue would be $26,819,576, which is a decline from 2019’s revenue of $29.2 million. The adjusted EBITDA loss is said to be in the range of ($900,000) to ($1,400,000), which would be lower than 2019’s loss of $6.5 million for the year. All figures are stated in Canadian dollars.

Chris Driessen, CEO of SLANG, said, “In 2020 Slang became a stronger, more vibrant business as we integrated companies, signed new strategic partnerships, and continued to grow our brands. We are now a plant-touching company, which is in the early phases of providing more meaningful revenue and the opportunity to generate profit in the coming quarters. In Q4, we generated solid results to cap off our year and set the stage for a promising 2021. Forming strong partnerships is a crucial element of our growth strategy and we are delighted to partner with Snowcrest, one of the premier cultivators and processors in the state. This partnership provides us with the opportunity to expand the supply of our expansive and unique portfolio of branded cannabis products to reach a greater number of consumers and build brand recognition in the state.”

Slang said it had $6,476,873 of cash and cash equivalents on December 31, 2020. The company said it expects to file its combined Q4 and FY2020 financial results on or about April 30, 2021, followed by an investor conference call.

Following the year-end, Slang announced that it had entered into a strategic partnership with Snowcrest LLC, a cultivator, and processor in Vancouver, WA, to bring SLANG’s cannabis products to consumers and patients in Washington. As part of this partnership, Snowcrest will manufacture SLANG branded products, and SLANG’s sales and marketing teams will work to place these products in dispensaries across the state. The agreement follows a royalty-based payment structure. In addition, Dolce Foglia, LLC, a full-service flavor house catering to the growing food & beverage industries, is also a partner in the Washington license.

The company also announced that it expects to launch District Edibles by May 2021, a new line of SLANG products that will be available in the State of Florida with seven SKUs.

 


William SumnerWilliam SumnerAugust 28, 2019
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7min9850

It’s time for your Daily Hit of cannabis financial news for August 28, 2019.

On the Site

SLANG Worldwide

SLANG Worldwide Inc. (CNSX: SLNG) delivered its financial results in Canadian dollars for the second quarter ending June 30, 2019, with revenue increased sequentially by 44% to $7.2 million and a big jump over last year’s $440,000 for the same time period. More importantly, Slang reported a net income of $17.5 million in the quarter versus a net loss of $13 million for the same time period in 2018. An even bigger accomplishment sequentially with a net loss of $16.1 million in the first quarter.

Environmental Issues Decided For San Diego Cannabis Dispensaries

On August 19, 2019, the Supreme Court of California issued a unanimous opinion in Union of Medical Marijuana Patients, Inc. (“UMMP”) v. City of San Diego. Except for the parties and the limited number of individuals who follow litigation involving environmental law, this case has moved through the California court system with little notice.

Texas Cannabis Report Ceases Publishing

In June 2013 Texas Cannabis Report launched as a premier news agency dedicated to covering the issue of cannabis activism and policy. Texans did not have a reliable source of news in this area, prompting our formation. Six years later there has been much progress made in ensuring this under-served community has access to quality and reliable information.

Green Thumb Industries

Green Thumb Industries Inc.  (CSE: GTII) (OTCQX: GTBIF) reported that its second-quarter revenue increased 228% to $44.7 million for the period ending June 30, 2019, over last year’s $13.6 million.  Revenue grew 60% over the first quarter of 2019. The company said that the revenue growth was driven by organic growth across GTI’s consumer products and retail businesses, strategic acquisitions and increased store traffic.

In Other News

TILT Holdings

TILT Holdings Inc. (CSE: TILT) (OTCQB: SVVTF) has released its financial results for the quarter ending on June 30, 2019. Revenue was $39 million, up 13% from the previous quarter. EBITDA was a loss of $4 million, up from a loss of $7.9 million. The net loss was $48.9 million. “The second quarter was a highly productive period for TILT. We continue to optimize our organization, including the dismissal and re-alignment of senior leadership, accelerate integration efforts, dramatically reduce overhead and instill an enhanced focus on profitable growth. TILT is making progress on our key initiatives to drive operational stability and progress toward profitability…” commented TILT Holdings interim CEO Mark Scatterday.

Origin House

Origin House (CSE: OH) (OTCQX: ORHOF) released its financial results for the three and six month period ending on June 30, 2019. Revenue for the quarter was $21.4 million. The gross margin was $4.4 million and adjusted EBITDA was a loss of $21 million. The net loss was $34.9 million. “”I am very proud of the entire Origin House team for generating another quarter of record revenue growth, leveraging the California brand support and distribution platform we built over the past several years, to deliver results for shareholders,” said Origin House CEO Marc Lustic.

Curaleaf Holdings

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) announced the release of its financial results for the second quarter. Total revenue for the quarter rose from $35.25 million in the previous quarter to $48.48 million. Adjusted EBITDA was $3.35 million, up from a loss of $3.6 million. The net loss was $24.54 million. “With the industry’s largest operational footprint, we have the scale to rapidly accelerate growth across the country. I continue to believe Curaleaf is the best positioned operator in the cannabis space with the potential to create substantial shareholder value,” said Curaleaf CEO Joseph Lusardi.

TerrAscend

TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) announced that it has signed a definitive agreement to purchase ABI SF, LLC, which operates a Bay Area cannabis cultivation facility and owns the premium cannabis brand State Flower. Initially, TerrAscend agreed to purchase 49.9% of State Flower for $2.85 million, along with extending a line of credit up to $3.75 million for cultivation facility improvements. The company has since upped its stake to 50.1%.

Vibe Bioscience

Vibe Bioscience Ltd. (CSE: VIBE) released its financial results for the three and six months ending on June 30, 2019. Quarterly revenue rose from $1.31 million in the first quarter to $3.09 million. The gross margin was $1.2 million and adjusted EBITDA was $113,322.


Anne-Marie FischerAnne-Marie FischerJune 25, 2019
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6min19320

Like many in cannabis, Chris Driessen is just happy to be doing what he is doing in an industry that he is extremely passionate about. Currently the Executive Vice President of Sales & Business Development at SLANG Worldwide (“SLNG”), an industry leader in branded cannabis consumer packaged goods. SLANG, with its headquarters in Toronto, currently operates across 5 continents, including 10 states in the U.S. SLANG Worldwide has achieved over $250M in worldwide sales, with a SLANG branded cannabis consumer product being sold across the world 1 every 4 seconds.  

Full birth name: Chris Driessen

Title: Executive Vice President of Sales & Business Development

Company: SLANG Worldwide

Years at current company: Driessen assumed the role of Executive Vice President of Sales & Business Development this past January when Organa Brands, for which he was President, was acquired by SLANG International.

Education profile: Driessen acquired a Bachelor’s Degree in Public Relations from the University of North Texas’ School of Journalism

Most successful professional accomplishment before cannabis: Like many, prior to cannabis, Driessen was working in a job that he wasn’t finding personal fulfillment in despite his financial success. He considers his decision to “get out of Dodge” and into a fulfilling career his most successful professional accomplishment. Driessen worked in sales for the hospitality industry, specifically selling coffee machines. “Coffee machines are the thing that everyone has, but no one wants to buy or talk about until it breaks,” he remarked, “I felt the walls closing in around me,” Living in Denver, Colorado, he recognized he had a great thing going on in his own back yard, “I knew cannabis was my passion,” he says. After some soul searching, speaking with his family, he finally decided to make the foray into the cannabis industry where he had the opportunity to “put his skills on display”, and couldn’t be happier with his transition, especially with his recent success with his new role at SLANG.  

Company Mission: SLANG is a portfolio of branded cannabis consumer products that is a leading distributor of cannabis brands worldwide. The company operates on three core competencies: extraction, brands, and distribution. Driessen and his team recognize that within cannabis, there are so many demographics that can be appealed to, with no shortage of opportunity to market useful products to different kinds of people. SLANG seeks to reach all people with branded cannabis packaged goods that meet their needs and their lifestyle.

Company’s most successful achievement:  Driessen attributes the success of SLANG’s ability to aggregate world class brands for distribution into dispensaries over 5 continents, in 17 markets to the people and talent the company has collected.  “What makes SLANG unique is the people that have rallied under the banner of SLANG,” says Driessen, “These people are all hand-selected with a great deal of though into what puzzle pieces are going to fit together well. In putting together SLANG’s brands and the talent that represented them, the company focused on skill sets, and ensuring the individuals that were brought in had skill sets that were complementary to each other as they pursue their core competencies: extraction, brands, and distribution. “Leveraging gifts and skill sets has been what has allowed us to achieve what we have together,” says Driessen.

Has the company raised any capital (yes or no): Yes, although this is not a current focus of SLANG at the moment.

If so, how much?: The fundraising completed, to the tune of $66M CDN was to complement the transactions including acquiring and executing new brands prior to the company going public in January.  

Any plans on raising capital in the future? Driessen explains that SLANG is a company that raises money and uses it judiciously. While the company is nimble and is ready to ride with the twists and turns of the cannabis market, there are no big plans in the imminent future for a capital raise, but “our eyes are open,” he states.

Most important company 5 year goal: “Same thing it is today,” says Driessen, “We know who we are, and we stay in our lane.” SLANG will remain dedicated, now and in the future, to making world-class branded cannabis products. At the moment, SLANG doesn’t have plans to get into retail or create storefronts, “Right now, we’re all about building brand loyalty and brand awareness, and being able to execute that within the market.”

 


StaffStaffJune 21, 2019
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4min30960

SLANG Worldwide Co-Founder and CEO Peter Miller is an experienced entrepreneur with successful exits and 10 years of executive experience. He and Billy Levy co-founded Mettrum Health Corp, a leading Canadian licensed producer that was acquired by Canopy Growth. An entrepreneur with a track record in agriculture, operations, tech, and clean energy, Peter is also the Chairman of the Canadian licensed producer Agripharm. Prior to joining the cannabis industry, Peter worked in corporate development at Esri Canada. SLANG Worldwide is a leading global cannabis consumer packaged goods company with a robust portfolio of renowned brands distributed across more than 2,600 stores in 11 US states.

GMR Executive Spotlight Q&A – 

Full birth name: Peter W J Miller

Title: Co-founder and CEO

Company: SLANG Worldwide

Years at current company: 2 years

Education profile: Peter studied finance and marketing, earning a Bachelor of Commerce degree from Ryerson University.

Most successful professional accomplishment before cannabis: Peter has more than 10 years of experience with agricultural, operational, and technological aspects of operating in the sector. Outside of cannabis, his most proud professional accomplishment is acting as a director and investor in a construction financing group that helped develop a network of sustainable energy projects.

Company Mission: SLANG Worldwide Inc. is a leading global cannabis consumer packaged goods company with a robust portfolio of renowned brands distributed across 2,600 stores in 11 US. We believe that trusted brands fulfilling their promises to consumers will continue to lead the cannabis market. We deliver on our promises of consistency and quality to stores that carry our products around the world. 

Company’s most successful achievement: In an industry that measures success in a variety of ways, SLANG Worldwide prioritizes on creating value for the entire industry through great cannabis products. In our first quarter as a publicly traded company, $32 million SLANG branded products were purchased by consumers and 52 million SLANG branded servings (5mg) were purchased by customers. We look forward to developing more products across form factors, helping more network partners to develop their capabilities and expanding our distribution and access to customers everywhere.

Has the company raised any capital (yes or no):  Yes

If so, how much?: The company has raised around $90M

Any plans on raising capital in the future? Yes. SLANG will raise capital at times when the cost of capital is most attractive.  The great thing about SLANG’s business model is that it is not extremely capital intensive. Incremental capital accelerates growth, however significant capital is not needed to achieve the primary goal of delivering as many servings of branded product to consumers as possible.

Most important company 5 year goal: SLANG’s goal is to have the best portfolio of branded cannabis consumer products selling through the highest number of retail shelves.


Cynthia SalarizadehCynthia SalarizadehApril 23, 2019
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6min11100

CNBC’s Tim Seymour To Interview Peter Miller, CEO of Slang Worldwide

NEW YORK, April 23, 2019 /AxisWire/ After a major success at the One World Trade Center in NYC, The Green Market Summit brings its financial and business acumen to Chicago on May 7, 2019 with keynote speaker Tim Seymour of CNBC’s Fast Money.

Hosted by the Green Market Report, the cannabis industry’s premier financial news organization, the one-day event will feature exclusive information on finding jobs in the cannabis industry, building a national cannabis brand, insight into the business of vapes, the pricing of hemp ahead of a futures market, investing in women-led cannabis companies and important updates for the Chicago market. The keynote interview between Tim Seymour and the CEO of Slang Worldwide, Peter Miller, will take place from 11:00 to 12:00 PM.

“Green Market Report has seen the early signs that Illinois will be a major force in the cannabis industry” said Green Market Media Co-founder and CEO, Debra Borchardt. “Instead of waiting until after it happens, we want to be a part of the beginning. This conference will bring together the companies that see the promise of Chicago’s cannabis future and the residents and investors that will make it a success.”

The keynote interview will explore Miller and the SLANG team’s track record of best selling brands, global distribution and strategic partnerships and the future for brands in the industry. SLANG Worldwide, the leading portfolio of cannabis consumer packaged goods, sells some of the best performing cannabis products in the US’ largest legal markets and has worldwide distribution including 12 US states.

“As Illinois voters continue to support full cannabis legalization, the size of the market already makes it one of the larger growth opportunities in the industry,” stated Tim Seymour of Seymour Asset Management & CNBC. “I am very excited to be talking to some of top companies and leaders in the state at the Green Market Summit in Chicago on May 7th.”

Peter Miller is a cannabis industry veteran and was the co-founder of Mettrum Health Corp., which, in 2017, was sold to Canopy Growth Corporation for aggregate consideration of approximately $430 million. Tim Seymour is the founder and Chief Investment Officer of Seymour Asset Management (SAM).  He is a recognized voice within the investment community as a trader and market strategist on CNBC and was recently added as a Board Member at cannabis packaging company KushCo Holdings Inc.

“As Chicago is home to some of the world’s most enduring consumer brands, I am thrilled to discuss SLANG Worldwide’s winning brands and distribution strategy at Green Market Summit’s inaugural Chicago event,” said SLANG Worldwide CEO Peter Miller. “Cannabis is a massive and ever-evolving market opportunity; Green Market Report is sure to inspire Chicago’s business community with dynamic conversations.”

Join the industry’s leading financial minds and public as well as private companies as they review the economic landscape of the cannabis industry.

Located in downtown Chicago at the UBS Tower on One North Wacker Ave, the event is made possible through event partnerships with Cresco Labs, Treehouse Global Ventures, Cresta Management, MMLG Brands, NewLeaf Data, and KCSA Strategic Communications. Following the Summit, there will be a private event featuring music by Michael Glabicki of Rusted Root with Dirk Miller in the stunning Winter Garden. This dramatic space is an 85 foot tall glass atrium featuring a the “Gem of the Lakes” bronze statue and fountain.

Tickets for the event and early bird pricing are still available, but spacing is limited. For more information, please visit: www.GreenMarketSummit.com or www.eventbhang.com/event/the-advanced-economic-state-of-cannabis/23

WHAT:Green Market Summit: The Advanced Economic State of Cannabis

WHEN: May 7, 2019

WHERE:UBS Tower One North Wacker, Drive, Chicago, IL 60606

AboutGreenMarketReport:

The Green Market Report (GMR) is headquartered in the Financial District of New York City with an office in Los Angeles. GMR is poised to be the center for trustworthy business, financial and economic news and intelligence. The site offers coverage on financial matters including news briefs on business, cultivation, and extraction, cannabis company stock prices, and wholesale cannabis pricing. For more information, please visit www.greenmarketreport.com or email info@greenmarketreport.com. Follow us on Facebook, Instagram and Twitter @GreenMarketRpt.

MediaInquiries

Cynthia Salarizadeh

Green Market Media

Cynthia@salarmediagroup.com

(856) 425-6160


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