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 appointment of Mr. Kevin K. Albert as an Independent Member of its Board of Directors. SLANG’s Board of Directors is now comprised of 6 directors, 3 of whom are independent.
Mr. Drew McManigle, Interim CEO and Chairman of SLANG, said, “I am very excited to have an experienced business professional like Kevin join our Board, a seasoned professional with significant knowledge and expertise in the cannabis industry, a deep and fundamental understanding of finance and management, and a successful track record in M&A. We deeply appreciate Kevin’s willingness to serve as a Director. We believe Kevin will bring significant business insight while providing skilled and experienced board level expertise to the task of building value for our shareholders and effectively managing and growing SLANG, as it positions itself from its turnaround stage into its growth stage.”
Mr. Albert worked in the investment banking division of Merrill Lynch & Co. for 24 years. Now retired, he is currently managing a portfolio of private investments, the majority of which are in the legal cannabis industry. From September 2010 through December 2019, Mr. Albert was a Senior Partner of Pantheon Ventures LLC (“Pantheon”) and a member of its six-person Partnership Board. For most of his nine-year tenure there, he was responsible for the firm’s global business development, and during this time Pantheon’s assets under management increased from approximately US$25 billion to approximately US$50 billion.
From 2006 until 2017, he also served as an independent director on the board of Merrill Lynch Ventures, LLC, a series of private equity partnerships offered to Merrill Lynch employees aggregating over US$1.8 billion of original committed capital. He currently serves as an independent director on the boards of Harborside Inc, Osiris Ventures, Inc. dba, NorCal Cannabis Company, Octavius Holdings Inc dba, Flow Cannabis Company, and Achari Venture Holding Corp I, a special purpose acquisition company targeting a merger with a non-plant touching cannabis company. Mr. Albert has a BA and an MBA from the University of California, Los Angeles where he continues to be involved as the Chair of the Board of Visitors of the Economics Department.
Mr. Albert noted, “I am excited to be joining SLANG at this time as I believe the Company has tremendous potential and is well positioned to expand its footprint and capture additional market share in its core markets. I look forward to working with the other members of the Board and the management team as we help drive growth at SLANG.”
