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, announced today that it has launched its best-selling, premium vape product line, O.pen Daily Strains and O.pen 2.0 batteries on May 16th in Maryland through a strategic partnership with Trulieve Cannabis Corp. (“Trulieve”), a leading and top-performing cannabis company in the United States.
Drew McManigle, Interim CEO of SLANG, said, “We are strategically entering the Maryland market right before adult-use goes on the ballot in November 2022 and as the state’s legal medical market continues to scale. Trulieve has been a key partner of ours in other markets for over 3 years and their leadership position in the cannabis industry has been integral in positioning our leading brands at the forefront of each market we jointly enter. Our timely entry in the Maryland cannabis market will effectively serve to increase our total points of distribution across the east coast, support our Gross Merchandise Value and drive continued brand performance of our leading cannabis brands.”
As part of the new strategic partnership with Trulieve, SLANG will supply branded products for distribution in the Maryland market and support in-market sales with pop-up presence at retail locations throughout the state, as well as support other marketing efforts and local community activations. SLANG has partnered with Trulieve over the past year to enter the Florida and Massachusetts markets with SLANG providing wholesale initiatives, which is a SLANG core competency. Along with wholesale, this launch will also take place in Trulieve owned retail locations throughout the state.
Initial product offerings in Maryland include O.pen Daily Strains, a selection of popular strains designed to offer consistent and repeatable effects with elevated THC potencies. It will be followed by the launch of Cured Resin shortly following, exact date to be determined.
“We are excited to expand on our successful partnership with SLANG and build on our strong position in the Maryland medical cannabis market,” said Gina Collins, Trulieve’s Vice President of Marketing. “As the exclusive source of SLANG’s nationally recognized, trusted and beloved brands, Trulieve continues to deliver on our promise to our patients in Maryland that we will provide a wide variety of the highest-quality products available in the market today.”
Share Issuance
SLANG Worldwide also announces it has issued 823,409 common shares, at a deemed price of $0.2235 per share, to an executive officer pursuant to an employment agreement and a former executive officer providing consulting services. The shares are subject to a hold period expiring September 17, 2022.
