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, announced today that it has closed its previously announced acquisition of NS Holdings Inc. (“NSH“), a manufacturing business based in Oregon (the “NSH Acquisition“).
The closing of the previously announced NSH Acquisition won’t affect the Company’s decision to wind down manufacturing operations in the unprofitable Oregon market. This acquisition follows SLANG’s newly implemented transformational growth strategy focused on tapering its Core Markets to Vermont and Colorado, supporting the Company’s goal of reducing non-profitable operations and achieving greater operating efficiencies.
NSH is the parent company of GNT Oregon, LLC (“GNT“). GNT operates a licensed CO2 extraction and manufacturing facility in Portland, Oregon. The Company issued a non-material amount of common shares as consideration for the NSH Acquisition.
