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 its entry into the West Virginia and Pennsylvania markets via a strategic partnership with Trulieve Cannabis Corp. (“Trulieve“), a leading and top-performing cannabis company based in the United States. With the addition of these two states, SLANG’s products will soon be available in 15 states, Canada, and Puerto Rico.
Under the agreement, Trulieve will have exclusive access to the entire SLANG portfolio of brands. Additionally, SLANG will sell packaging to Trulieve, and will receive royalties on product sales at their locations in both states, as well as on wholesale revenues to third-party dispensaries. Product launches in both states are expected in 2022.
Chris Driessen, CEO of SLANG, said, “We are thrilled to announce two more strategic partnerships with Trulieve in Pennsylvania and West Virginia. We look forward to working with Trulieve and building on our existing successful partnerships in Florida and Massachusetts.”
Pennsylvania, the fifth-most-populated state in the country, has a robust medical marijuana market and Governor Wolf included adult use marijuana on his legislative agenda as announced in January 2021.1 The state has seen immense success with its medical marijuana market, which is expected to reach 1 billion dollars in sales by 2023, according to one report.
“Trulieve and SLANG have enjoyed a successful partnership in Florida and as we expand nationally, we are excited to bring SLANG products into select new states,” commented Valda Coryat, Chief Marketing Officer of Trulieve. “We recently announced the launch of SLANG in Massachusetts and now we will add two more states within our northeast hub where patients will find SLANG products on Trulieve’s shelves and available in dispensaries throughout those states as we build upon our wholesale distribution model.”
West Virginia currently has a medical marijuana program and as of June 30, 2021, the state has 2,305 patients enrolled. Additionally, the state’s Governor Jim Justice recently revealed that he is open to the possibility of adult-use cannabis legalization in the state. 2
Trulieve has made several advances in the state and is expected to be the largest dispensary owner and producer in West Virginia. In July 2021, Trulieve began cultivation at their 100,000 square foot facility in Huntington, West Virginia.
Driessen continued, “With Trulieve’s best-in-class infrastructure, operational excellence and SLANG’s portfolio of brands, these partnerships are expected to be successful in two emerging markets that have tremendous upside, especially when you consider the potential regulatory changes in both markets.”