SLANG Worldwide Addresses Recent Developments in Vaporizer Market
Company highlights its diversified product offering and long-standing commitment
to product consistency and reliability
TORONTO, Oct. 2, 2019 /CNW/ - SLANG Worldwide Inc. (CNSX: SLNG), (Frankfurt: 84S), ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods company with a robust portfolio of renowned brands distributed across 2,600 stores in 12 U.S. states, today provided an update on the recent publicity surrounding the use of vaporizers.
"The widely publicized public health issue relating to the use of liquid vapes is something that SLANG takes extremely seriously," said SLANG Worldwide 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 is not aware of any of its products being identified as a contributor to any of the recent illnesses associated with vaping technology. The Company remains committed to ensuring its entire product portfolio maintains the highest quality standards and continues to be compliant with applicable regulations in each of its markets.
As the Company disclosed in its second quarter 2019 financial results issued August 27, 2019, SLANG is not currently operating in Massachusetts and has postponed plans to enter that state. The Company does not expect to experience any direct impact from Massachusetts' temporary ban on vaping products.
SLANG stands by the quality of its O.penVAPE products, and the strength of recent sales trends continue to reflect that commitment. Management is monitoring the situation closely and working collaboratively with its retail partners to ensure we continue to meet the needs of consumers with a fully compliant product offering.
Regulated cannabis products, including SLANG's branded products, undergo rigorous testing and are sold through well-regulated channels, offering consumers a level of consistency and reliability that is not available with black market products. Craft Reserve and Reserve, two flagship products from the Company's O.penVAPE line, contain only cannabis oil and terpenes.
SLANG is a multi-product, multi-channel, cannabis CPG leader. Its categories and brands span vaporizers (O.penVAPE and Firefly), distillate and concentrates (Bakked), edibles (District Edibles), pills (:Pressies), beverages (Magic Buzz), flower (Green House Seed Co.) and hardware. The popular Firefly 2+ vaporizer offers an all-in-one solution for vaporizing both flower and concentrates.
The Company continues to diversify its product offering through ongoing innovation, the recent launch of a CBD-focused SLANG Health and Wellness division, and the impending acquisition of the Lunchbox Alchemy and Avitas brands which offer edible and flower products. With its diversified product offering and vast retail network, the Company is well-positioned to deploy new products into the markets where it operates as consumer needs evolve.
About SLANG Worldwide Inc.
SLANG Worldwide Inc. is a leading global cannabis consumer packaged goods company with a robust portfolio of renowned brands distributed across 2,600 stores in 12 US states. The Company is focused on acquiring and developing market-proven regional brands as well as creating new brands to meet the needs of cannabis consumers worldwide. SLANG is listed on the Canadian Securities Exchange under the ticker symbol SLNG and on the Frankfurt Stock Exchange under the trading symbol 84S. For more information, please visit www.slangww.com.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's final long form prospectus dated January 17, 2019 and "Risks and Uncertainties" in the management discussion and analysis for the year ended December 31, 2018, each as filed on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
SOURCE SLANG WORLDWIDE
Media inquiries: [email protected]; Investor inquiries: Kristina McCahon, Director, Investor Relations, [email protected] / 833.752.6499
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