SLANG Worldwide to Bring New Cannabis Brands to Maine
Wellness Connection of Maine will expand product portfolio
in anticipation of the legal adult-use market
TORONTO and PORTLAND, ME, March 11, 2020 /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 popular brands, and Northeast Patients Group, doing business as Wellness Connection of Maine ("Wellness Connection"), today announced they have entered into a licensing agreement.
Pursuant to the partnership, Wellness Connection has been granted an exclusive license to produce and distribute the SLANG product suite in Maine, including its category-leading products O.penVAPE, Pressies, District Edibles, and Bakked.
Wellness Connection is Maine's largest licensed producer of quality medical cannabis with four dispensaries, a commercial kitchen and a state-of-the-art cultivation, processing and manufacturing facility. Since 2011, Wellness Connection has been advocating for access, high-quality product, and transparency by advancing science and shaping new public policy.
"Wellness Connection is the leader in Maine with a strong sense of what the local market wants," said SLANG Worldwide CEO Peter Miller. "With adult recreational use expected to spur significant growth of the market, we are pleased to establish a long-term partnership with a first-class producer in the state."
"We are very familiar with SLANG's product suite and its appeal to medical cannabis users," said Wellness Connection CEO Patricia Rosi. "With the transition to legal adult use, we expect to see a continuation of the trend towards cannabis-infused products. SLANG's leadership in multiple product categories will form an important part of our strategy to serve this segment of the market."
SLANG's products will be available in the coming weeks at licensed storefronts across the state including Wellness Connection's dispensaries in South Portland, Portland, Gardiner and Brewer. The initial product roll-out will include O.penVAPE RESERVE and Craft RESERVE vaporizer products and the Bakked Dabaratus distillate dabbing solution.
Medical cannabis has been legal in Maine since 1999 and the first adult-use, recreational sales are expected by this summer. The total cannabis market in Maine has been estimated to reach US$300 million by 2022 (source: New Frontier).
SLANG previously operated in Maine through a separate licensing agreement.
About SLANG Worldwide Inc.
SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. The Company specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. 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.
About Wellness Connection
Since 2011, Wellness Connection (WCM) has been Maine's leading cannabis provider focusing on patient-centric care. WCM operates four of the eight state-licensed dispensaries in Brewer, Gardiner, Portland and South Portland as well as state-of-the art cultivation, processing and manufacturing facilities. For more information, please visit www.mainewellness.org.
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
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