Slang Archives - Green Market Report

StaffFebruary 1, 2021
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SLANG Worldwide Inc.  (OTCQB: SLGWF) has teamed up with cannabis-focused private equity firm Merida Capital Holdings to speed up Slang’s expansion in both new and existing markets. In addition to the partnership, Slang said that Merida led a non-brokered private placement of up to C$10 million to fund further growth. The stock was rising over 6% to lately sell at 32 cents.

“Integrating our brands in emerging markets through strategic partnership is core to our growth strategy. This alliance with Merida allows for us to enter two new emerging markets in Virginia and Missouri, expand our sales in Michigan and bring in growth capital,” said Chris Driessen, CEO of SLANG.

The company said in a statement that the partnership will leverage Merida’s portfolio to expand SLANG’s branded products into Missouri and Virginia, while also accelerating the companies retail distribution in Michigan. Under the terms of the agreement, Merida said it will be granted options to acquire common shares of SLANG and may earn additional compensation for achieving certain milestones, including sales targets, and initiatives to promote the commercialization of SLANG products across the entire Merida ecosystem, which also includes various licensed businesses in West Virginia, California, Maryland, Pennsylvania, and investments in various cannabis oriented finished goods, technology, and supply chain companies. SLANG’s proprietary brands include O.penBakkedDistrictPressiesLunchbox Alchemy, and Firefly.

The company has been on somewhat of a buying binge. A few weeks ago,  Slang said it had entered into a definitive agreement and plan of merger with Allied Concessions Group Inc. (ACG), a manufacturing and distribution business based in Colorado. ACG is an Infused Product Manufacturer (MIP) that produces O.pen, Bakked and Pressies branded cannabis products in Colorado. ACG is comprised of two different manufacturing and distribution facilities that extract both hydrocarbon and CO2 oil for all SLANG branded products in Colorado. At the end of December 2020, the company closed on its acquisition of Colorado-licensed cannabis cultivator Pleasant Valley Ranch, LLC as it made another move to own its supply chain.

Merida’s Managing Partner Mitch Baruchowitz said, “Merida is excited to welcome SLANG to our ecosystem of 50+ cannabis companies, and tap their brand expertise to expand the product offerings of our licensed medical operators in Virginia, Missouri, as well as 3Fifteen Michigan which currently boasts a leading retail footprint in the state. Our investment and partnership should remove friction from SLANG’s state by state expansion and help drive acceleration of their national brand presence.”

“Forming this strategic partnership with one of the pre-eminent cannabis investors in the U.S. is a testament to the strength of our business and the growing demand for our cannabis products. By establishing such a valuable strategic collaboration and attracting high-quality institutional investment, at sector-leading terms, we are well-positioned to fund our expansion and bring our products to new customers,” said Peter Miller, Co-Founder and Executive Chairman of SLANG.


StaffDecember 15, 2020
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While some companies like Canopy Growth (NASDAQ: CGC) are laying off employees by the hundreds, Slang Worldwide (OTC: SLGWF) is doing the opposite. This quietly growing cannabis brand company is adding jobs and the state of Colorado couldn’t be happier because the company decided to move its headquarters there.

“Colorado continues to be the epicenter of the growing cannabis industry, so we’re excited by the company’s smart decision to relocate and create jobs in our beautiful state,” said Governor Jared Polis. “Colorado’s cannabis industry offers strong growth potential and this move speaks volumes about our state’s cannabis industry and community as a whole.” The state competed against California and Oregon for the jobs. Slang already has 75 people on the payroll in their existing offices in Denver, which serves as their U.S. home base, and Boulder which will now be expanded. The move will create 43 new jobs with an average annual wage of $75,000 and are expected to include positions like lab technicians, project management, and other production-related positions.

“We applaud Governor Polis and the Office of Economic Development and International Trade for once again being leaders in cannabis policy,” said Chris Driessen, President, and CEO of Slang Worldwide. “Colorado was already a core market for us, so with these incentives from the state it only made sense for us to double down on our commitment to the place that so many of us, including myself, call home.”

The Economic Development Commission voted at its September 17, 2020 meeting to approve up to $584,399 in job-growth incentive tax credits over the next eight years. This is the first time Colorado has offered performance-based incentives to a cannabis company.

“Slang Worldwide’s selection of Colorado marks the next step of responsible growth within Colorado’s cannabis industry, a priority area for our office and this administration,” said Betsy Markey, executive director of Colorado’s Office of Economic Development and International Trade. “We are encouraged by the growth potential of this vertical. Slang provides additional linkages between Colorado suppliers and broader consumer markets while growing our production and R&D profile.”

Canopy Growth Tax Incentives

For the past year and a half, Canopy has been laying off employees by the hundreds and scaling back much of its business. The company received a property tax credit from the state of New York in 2019 for its industrial hemp processing plant located in upstate Kirkwood. The company was given a standard 15-year payment-in-lieu-of-taxes agreement that will trim the property tax bill by more than $1.7 million over the life of the agreement. Under the terms of the proposed deal, Canadian-based Canopy is set to get a 39% reduction in property taxes over the first five years of the 15-year term of the agreement. Canopy said it would hire 75 workers at the facility with salaries between $30,000-$50,000. While Canopy exited its Springfield NY location, as of November, Kirkwood is still under construction. According to WNBF, the project is actually nearing completion.

 

 


Debra BorchardtOctober 5, 2020
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Toronto-based Slang Worldwide Inc. (OTCQB: SLGWF) has been actively acquiring companies over the past months. Most of the acquisitions have been in Colorado as the company sought to bring in members of its supply chain as part of the larger company. At the close of last week, Slang announced it completed the purchase of Oregon-based LBA Global Corporation and its Lunchbox Alchemy brand portfolio and its subsidiary Lunchbox Distribution.

The company said this will improve its position in Oregon by adding a complementary portfolio of top-selling products, as well as increased cannabis extraction, manufacturing, and distribution capabilities. Oregon, in addition to Colorado, is a core market for SLANG. By establishing an integrated operation, the company hopes to see increased revenues and gross profits.  The transaction is all stock and Slang issued 23,913,043 restricted voting shares to the former owners of privately held LBA in exchange for an all-equity interest in LBA and its subsidiaries.

“LBA satisfies several key strategic objectives for us, beyond the addition of some great brands to our portfolio,” said SLANG President & CEO Chris Driessen. “Our strategy in core markets like Oregon is to consolidate our supply chain and establish a fully integrated, wholesale operation to capture greater unit economics. With this acquisition, we now have an experienced team on the ground, an advanced manufacturing facility, and a thriving distribution business, all of which will serve as a platform for long-term growth.”

LBA was founded in 2014 and is the owner of Lunchbox Alchemy portfolio of cannabis brands, which has been recognized for its innovations in cannabis-infused edibles and concentrate production. Today, LBA owns and manufactures gummies and hard candies that have consistently ranked among the top sellers in their respective categories in Oregon over the past several years, according to BDSA. LBA also owns a CBD-infused product line that is currently available in more than 500 retail stores in 45 states across the U.S.

Slang said it intends to leverage LBA’s infrastructure, experience, and industry relationships to enhance its capabilities and market position in Oregon. Lunchbox Distribution is one of the largest cannabis distributors in the state and distributes Lunchbox products along with other selected third-party brands to 382 dispensaries across Oregon, representing approximately 62% dispensary penetration.

“We are very excited to become part of the SLANG team. After working closely together over the past year, we are more confident than ever in the strategic fit and the path forward,” said LBA CEO Eric Plantenberg. “Our local infrastructure and customer relationships plus SLANG’s national footprint and proven experience growing brands is a winning combination that will add value for both companies.”

 


Debra BorchardtSeptember 29, 2020
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SLANG Worldwide Inc. (OTCQB: SLGWF) is buying Colorado-licensed cannabis cultivator Pleasant Valley Ranch, LLC as the company makes another move to own its supply chain. Pleasant Valley has been a key supplier of raw materials for SLANG-branded concentrate and edibles products in Colorado. By buying the supplier, Slang can assure itself of having the raw materials it needs at a lower cost, which will improve the gross margins.

The company didn’t disclose the price paid for Pleasant Valley but did say that it was for a non-material amount of cash and common shares. The deal is expected to close in the fourth quarter of 2020.

“The purchase of Pleasant Valley is another key step in our strategy to assemble a fully integrated, wholesale operation in our core market of Colorado,” said SLANG President & CEO Chris Driessen. “The Colorado market continues to generate double-digit growth, and this transaction will help us capture additional market share. The acquisition of a trusted supplier will help us continue to expand our production volumes while improving our unit economics and maintaining our high standards of quality.”

Pleasant Valley

Pleasant Valley is a privately-owned company located in Carbondale, CO specializing in high-quality, organically grown cannabis strains that thrive in high altitude, mountainous environments. The release stated that Pleasant Valley has 1,600 square feet of greenhouse cultivation area, and a five-acre outdoor facility at an elevation of approximately 7,500 feet that produces an authentic, naturally cultivated product using snowmelt water. It currently has a capacity of 3,600 plants and produces approximately 4,800 pounds annually and is projected to double its capacity by 2021.

This is the latest step taken by Slang as it moves to consolidate its supply chain. Last month, the company bought Peoria Partners, a state-licensed manufacturer, and distributor of Slang’s District Edibles brand in Colorado.

“This is one of the planned acquisitions that allow us to consolidate our supply chain in Colorado,” said SLANG President & CEO Chris Driessen. “Owning a licensed cannabis facility capable of manufacturing and distributing cannabis-infused SLANG products immediately opens up new opportunities for us, including the ability to capture greater top-line revenue and more favorable unit economics.”

Slang said it was looking at other potential acquisitions and opportunities in Colorado.

 

 


Debra BorchardtSeptember 3, 2020
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SLANG Worldwide Inc. (CNSX: SLNG) has been on a quest to consolidate its supply chain Colorado and the latest move is the acquisition of Peoria Partners. Peoria is the state-licensed manufacturer and distributor of SLANG’s District Edibles brand in Colorado. Slang said it plans to keep using Peoria’s Denver facilities to make District Edibles and for the distribution of the full suite of SLANG-branded products within Colorado.

“This is one of the planned acquisitions that allow us to consolidate our supply chain in Colorado,” said SLANG President & CEO Chris Driessen. “Owning a licensed cannabis facility capable of manufacturing and distributing cannabis-infused SLANG products immediately opens up new opportunities for us, including the ability to capture greater top-line revenue and more favorable unit economics.”

Earlier this year, Slang had disclosed in a filing that it entered into an agreement with Peoria and its unitholders in February to buy Peoria for non-material cash consideration. The company said that the purchase of Peoria marked a significant milestone in it’s strategy of consolidating its supply chain in Colorado. Just last month that the Colorado Department of Revenue’s Marijuana Enforcement Division had approved its application for suitability. That approval will allow Slang to own “plant-touching” operations such as manufacturing and distribution facilities.

Slang said that the consolidation will deliver several benefits, including increased revenue and gross profit per unit sold, greater control over production and distribution planning, improved efficiency across the organization, and a strengthening of its leadership position in the state.

Other Consolidation Efforts

In addition to Peoria, Slang has said that it also plans to buy Allied Concessions Group Inc., which is a manufacturing and distribution business in Colorado It has also executed definitive agreements relating to its proposed acquisition of an
edibles manufacturing and distribution business belonging to Oregon-based LBA. That deal is expected to close in the second half of the year. The company said it has been working to obtain the state regulatory approvals required to complete all three transactions.


StaffAugust 27, 2020
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SLANG Worldwide Inc. (OTC: SLGWF) reported that in Canadian dollars that its revenue decreased by 3% sequentially to $4.6 million in the second quarter from $4.6 million in the first quarter 2020. The drop was attributed to stores that were impacted by COVID lockdowns. Slang said in a statement, “The stay-at-home orders associated with the COVID-19 response also adversely affected certain retail locations that sell the company’s branded products.”

The company also noted that its previously announced decision to recalibrate supply chain relationships in California and other emerging markets had affected revenue. The company said that performance in its core markets of Colorado and Oregon helped offset decreased revenues in its emerging markets. “On a year-over-year basis, core market revenues were down 50% in the month of April, at the height of the pandemic, but recovered by June to deliver a 130% increase over June 2019.” Slang said that sales have continued to rise through July and August.

The company recorded net income of $2.7 million, which dropped from $16 million reported for the same time period last year. Slang said it expects solid growth in the second half of 2020 due to continued strength in core markets, new product launches and traction in newly-entered markets.

“We were encouraged to see our revenues and margins hold steady in the second quarter despite facing a full three months of the COVID-related challenges that first appeared in March,” said SLANG President & CEO Chris Driessen. “These results reflect improvements in June, which offset weak April and May activity driven by the COVID-19 crisis. Additionally, the decisive steps we have taken to adjust to the market environment have led to reduced operating expenses and more efficient use of our cash resources. The success we have experienced since the recovery in June is further proof that we are emerging from the challenges of the first half of the year even stronger, with revenues and momentum exceeding pre-COVID levels.”

Looking Ahead

The company has said it is focused on a path to profitability through a rebalancing its workforce and continued optimization of SLANG Network relationships, resulting in combined annualized savings expected to be approximately $10.5 million. “SLANG Network partner assets in Colorado and Oregon are demonstrating the capability for profitable cash flow from operations and we are optimistic for the future as those acquisitions are near completion.” The company listed the following reasons why it is so optimistic:

  • Licensing revenues from recently-signed strategic partners commencing and continuing to grow as those partners introduce products into their local markets;
  • Continued expansion into new emerging markets, such as California and Massachusetts, provided strategic partnerships can be successfully concluded;
  • Increased sales from the Company’s recent and ongoing expansion into new product categories and introduction of new brands;
  • The ongoing recovery from the effects of COVID-19 closures, as demonstrated by positive sales trends in July and August;
  • The consolidation of supply chain assets, and a corresponding increase in revenue and margins, resulting from the potential closing of the proposed acquisitions of LBA in Oregon, and Allied Concession Group (“ACG“), Peoria Partners LLC and Pleasant Valley Ranch, LLC in Colorado;
  • Reduced operating expense run-rate as a result of recent streamlining activities; and
  • Continued focus on prudent credit management and prioritization of near-term cash generation.

Debra BorchardtMay 27, 2020
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Up and coming Michigan cannabis company Gage Cannabis has announced a partnership with Slang Worldwide Inc. (OTC:SLGWF) to produce and distribute Slang products. While Slang is the better-known company, Gage has been quietly building a solid business in Michigan.

Michigan

Gage is focused on becoming a leader in the state as the cannabis industry has switched from building huge national footprints to targeting specific states. Adult-use cannabis sales in Michigan began in late 2019 and have been growing steadily since then with 27% month-over-month growth from March to April 2020, based on data from the Michigan Marijuana Regulatory Agency. A recent study by Michigan State University estimates that total cannabis sales in the state could reach $3 billion within the next five years. It is currently the fourth largest market in the country.

Gage Cannabis

Gage has licenses for 13 dispensaries of which four are operational at this time. There are four licenses for cultivation with three operational and one processing license. The average basket size for Gage in March was $130 and that number has jumped to $175 in April.

For now, Gage is privately owned with 60% of the company held by management and insiders. The company has raised $60 million and has $7 million in cash and no debt. Bruce Linton is the Executive Chairman, while Fabian Monaco is the President.

“Gage understands that partnering with industry-leading brands like SLANG elevates the Michigan cannabis market and provides consumers with a range of products that are of exceptional quality,” said a representative of Gage. “Gage is unwavering in its commitment to bringing only the best cannabis products and brands to Michigan.”

The company made a big splash with its Cookies partnership when it opened a Cookies branded dispensary on the well known 8 Mile road in Detroit. The 3,500 square-foot Cookies store employs 40 Detroiters and the company has in place a social equity program through which it will share $950,000 with social equity participants in cities disproportionately impacted by marijuana prohibition.

Slang

The partnership means that Gage will be including its category-leading products O.penVAPE, Pressies, District Edibles, and Bakked in its dispensaries. SLANG will also provide sales consulting services and will receive royalty payments for each branded product sold in the state.

“Partners are the backbone of the SLANG network, and we are excited to embark on this initiative with a great operator like Gage,” said Peter Miller, CEO of SLANG Worldwide.  “Gage has demonstrated an ability to scale as leaders in a rapidly growing and competitive market. By supporting their business with the diversified SLANG product offerings, we expect an even greater mutual scale and success. This deal is directly on target with our licensing and partnership strategy, and we look forward to growing together.”

The addition of the SLANG brands will strengthen Gage’s offering in the vape, edible, and concentrate product categories. Production of the additional products will utilize Gage’s increasing cultivation and processing capacity in the state.

“I am very excited to see this collaboration between two companies that are each innovators and leaders in their own segment of the cannabis market,” said Bruce Linton, Executive Chairman of Gage and an investor in SLANG. “Partnerships like this are a great way for both companies to accelerate their growth in a capital-efficient manner, which is crucial in today’s market.”

 

 

 


Debra BorchardtNovember 26, 2019
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SLANG Worldwide Inc. (CNSX: SLNG) reported its 2019 third-quarter revenue in Canadian dollars of $9.3 million which rose 29% over the $7.2 million of revenue produced in the second quarter of 2019. It easily overshadowed last year’s net revenue of $1.6 million for the same time period.  The company said that the increase reflected ongoing business strength in core markets and a favorable shift in product mix, including accelerating sales of premium products in the SLANG portfolio.

Slang also delivered a net income of $0.4 million in third-quarter versus net income of $17.5 million in the second quarter.  The company reported a net loss of $16 million in 2018 for the same time period. The company said that the net income gain was driven by a favorable $106.6 million fair value adjustment to derivative liabilities and the options to acquire NS Holdings Inc. and ACG, offset by a non-cash impairment charge relating to a write-down of goodwill for acquisitions completed in January 2019 and by increased operating expenses in the quarter.

“In Q3 2019, we continued to see strong organic revenue growth. Across our portfolio, we saw favourable developments, including a shift in consumer spending toward the premium end of our portfolio, particularly Craft Reserve and Firefly. We continue to diversify our portfolio of products to increase total cannabis market share across both historically strong and blue-sky product segments, for SLANG,” said SLANG CEO Peter Miller.

Additional Financing

Slang also announced a non-brokered private placement financing for $15 million. Investors include existing institutional shareholders of the company and additional investment by investor Bruce Linton. Slang said it intends to use the proceeds of the private placement to support strategic growth opportunities and for general corporate purposes.

Miller added, “We are excited to accept additional financing. This significant capital infusion from existing, long-term shareholders further strengthens our balance sheet. The company’s ongoing efforts toward increased acquisition-centric efficiencies, our goal of positive operating cash flow by mid-2020, today’s enhanced cash position, and our powerful, multi-state platform allow us to be opportunistic around growth opportunities in this dynamic environment. We see a huge opportunity in flower, ultra-premium concentrates, and other previously untapped product segments for SLANG.”

Vape Sales Continue

Despite the vape crisis, which has put a dentin most vape product sales, Slang said that it saw an increase in quarterly revenue driven by higher sales of premium products within the portfolio. “Despite sociopolitical headwinds, our leading Craft Reserve and Reserve brands in the O.penVAPE line maintained a #1 sales position across key markets, including Colorado, New Mexico, and Vermont.

The company statement also noted that within most key markets, the Slang SKUs are among the highest-selling concentrate products on shelves, including in Colorado where 6 of the highest-selling vape SKUs are either Craft Reserve or Reserve products. “As part of its iterative product strategy, SLANG soft-launched the FireFly Mini product in Colorado during Q3 2019. After positive traction in the market, the company now anticipates a full state-wide launch in Q4 2019, followed by a product roll-out in California, Oregon, and Washington in the first half of 2020. Additionally, SLANG anticipates offering further additions to its product mix, including live resin products in 2020.”

 


Debra BorchardtOctober 2, 2019
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Vape products, once considered the rising stars of the legal cannabis marketplace have struggled under the weight of the vaping crisis. Massachusetts banned all vape products for four months in order to err on the side of caution while the issue is investigated. Around the middle of August, vape product sales began dropping according to data from Headset, however, it seems the group may be slowly recovering. The following table was provided by Headset.

Sales in Nevada and Washington both began to pick back up, while California seems to have stabilized. Most consumers are learning that the issues with vapes stemmed from products purchased outside the regulated channels. 

A report from the CDC (Center for Disease Control) stated, “In addition, the report from Illinois and Wisconsin showed that nearly all THC-containing products reported were packaged, prefilled cartridges that were primarily acquired from informal sources such as friends, family members, illicit dealers, or off the street.”

It seems illicit market and unregulated vape producers were using thickening agents like Vitamin E with disastrous results. The industry, in general, has suggested that regulation will solve this issue and many are trying to convince the consumer that they can trust a regulated brand.

“The widely publicized public health issue relating to the use of liquid vapes is something that SLANG takes extremely seriously,” said SLANG Worldwide (OTC: SLGWF) CEO Peter Miller. “We encourage investigation and research into the causes of this issue and hope that our collective understanding of the results leads to more thorough and effective regulation of the industry.”

SLANG said it is not aware of any of its products being identified as a contributor to any of the recent illnesses associated with vaping technology. SLANG is not currently operating in Massachusetts and had postponed plans to enter that state. It doesn’t expect to be adversely impacted by Massachusetts’ temporary ban on vaping products.

1933 Industries (CSE: TGIF) (OTCQX: TGIFF) said, “All our branded THC and CBD vape products do not contain vitamin E acetate, vegetable glycerin, or propylene glycol. All our products are made with ingredients that are known to be safe for consumers. All packaging contains our product ingredients, which are also listed on our website. Each and every product is third-party lab tested, and the results can be tracked via a QR code.”

Testing Boom

Of course, in order to be sure testing is the best way to go and this crisis could present an opportunity for the lab group to capitalize. CannaSafe, California’s leading accredited cannabis testing laboratory said it will expand contaminant testing to Vitamin E additives, in response to ongoing concerns around consumer vaping safety. CannaSafe is the first laboratory to offer this service and will also provide testing for additional additives including medium-chain triglycerides, vegetable glycerin, and propylene glycol in the coming weeks.

“Trusted cannabis companies are taking it upon themselves to impose high-quality standards on consumer products, and we are ready to work with any business that wants to show customers that their products are free of toxic additives,” said Aaron Riley, CEO of CannaSafe. “We also urge brands and retailers to share test results with their customers as a gesture of good faith.”

Modern wellness company, dosist, is the first brand to voluntarily undergo Vitamin E testing with CannaSafe. Other brands that will utilize Cannasafe’s testing technology include Orchid Essentials, Select, Heavy Hitters, Stiiizy, King Pen, Lowell Herb Co., Pure Vape, Tikun, and Raw Garden. The Vitamin E test is available to brands and manufacturers across the state for an additional $225.

 


Debra BorchardtAugust 28, 2019
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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.

Revenue Plans Revised Down

Still, the company revised its outlook downward from its previously estimated $130-$160 million to a more conservative $70-$100 million.  Canada’s vape business was pushed back from October to mid-December, significantly affecting Slang’s vape plans. The company also said that it has decided to focus on growth in mature markets where our brands are currently performing well, versus Massachusetts and Michigan which have been growing much more slowly.

“These markets have been developing at a slower pace than anticipated and are currently facing supply constraints. While management believes these markets offer significant longer-term opportunities for the SLANG brands, further investment in growth initiatives in the current environment would put pressure on margins and profitability.” The company also said it plans to delay the launch of new products.

“We saw significant momentum across our business and delivered strong growth in revenue and unit sales in Q2 over the previous three months. Through each deal and initiative we announced in the quarter, we adhered to the capital-light model that we believe delivers the best value for our shareholders,” said SLANG CEO Peter Miller. “Global cultural, political and commercial tailwinds represent a huge organic growth opportunity for our brands. We will responsibly scale into this opportunity, continuing to focus on building a great team and the right assets to efficiently and competitively deliver our products to market. We continue to see strong organic growth opportunities for the remainder of 2019 and beyond, and remain optimistic about the outlook for the business.”

The company noted that its current increase in revenue reflected the inclusion of a full quarter of operations, sequential growth in Nevada and Oregon, positive changes in product mix, the initiation of sales of the Firefly 2+ vaporizer as well as the Company’s first sales in Florida and Puerto Rico.

Additional highlights from the company were as follows:

  • .1 million branded units sold — Branded unit volumes have increased by 16% over Q1 2019 following the start of sales in Florida, and growth in Nevada and Oregon.
  • Nearly 74 million branded servings (average of 800,000+ servings per day) — Branded servings grew by 45% in the quarter versus Q1 2019. Percentage growth in branded servings significantly outpaced growth in branded units as product mix shifted towards higher volume form factors.
  • 2,600+ retail stores across 12 states selling SLANG’s branded products — SLANG commenced sales in Florida during the quarter and announced several agreements to initiate sales in additional high-quality cannabis markets. The Company will continue to leverage its extensive distribution network and corporate development activity to grow its business through the balance of 2019.

 


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