TORONTO, Oct. 15, 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 US states, today announced that it has entered into a strategic partnership with Cookies, a leading California-based cannabis and lifestyle brand, to bring Cookies' products to the Colorado market.
Pursuant to the partnership with Cookies, SLANG has signed an exclusive licensing and distribution agreement in connection with the proposed sale of pre-packaged flower products and concentrates for the Colorado market. A SLANG Network partner will cultivate the Cookies strains, and SLANG will market and sell the products through its statewide distribution channels. Colorado aficionados will appreciate the official Cookies cultivars coming to their state, including next-generation hybrids of some of the most popular strains in the world.
SLANG and Cookies will also work together to evaluate additional opportunities in other markets where SLANG operates.
SLANG has deep roots in Colorado, with its branded products having been sold in the state since 2012. The Company's O.penVAPE brand is the best-selling cannabis brand in Colorado's history, while its District Edibles gummies, Bakked concentrates, and Pressies are currently among the state's top-ranked cannabis products in their categories (source: BDS Analytics). SLANG-branded products are sold in the majority of leading retailers across Colorado.
The dried flower and concentrate products licensed from Cookies will complement SLANG's existing product portfolio in the Colorado market and provide for additional opportunities to provide customers with high quality, branded cannabis experiences. Dried flower represented approximately 40% of the cannabis market in Colorado, which totaled US$1.2 billion of sales in the first eight months of 2019, according to BDS Analytics. The Company's entry into the branded dried flower market will further diversify its business.
"Cannabis culture is driven by passionate advocates and connoisseurs like Berner and the Cookies family. Rooted in a love of premium flower genetics, and evangelized by a loyal following, the Cookies brand lives among limited company," said SLANG CEO Peter Miller. "At SLANG, we are proud to bring the Cookies brand to Colorado, and further extend our portfolio in flower and concentrates — at 40% of the Colorado cannabis market, the flower category represents a massive opportunity for SLANG to increase overall cannabis dollar share."
"SLANG is an ideal partner for our brand in Colorado. They have a strong presence throughout the state, and an innovative marketing approach that should resonate with our target customers. As one of the earliest markets to legalize cannabis, Colorado has a population of sophisticated and discerning consumers, and we think they will respond well to the Cookies brand," said Berner, founder and CEO of Cookies.
SLANG expects the first Cookies products to be available for sale in Colorado in early 2020.
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.
About Cookies Curated for the connoisseur, the Cookies brand leads global cannabis culture from its headquarters in the Bay Area, California. Born from humble beginnings in a San Francisco Mission District garage, and dedicated from day one to excellent genetics and authentic culture, Cookies was officially founded in 2012 by the top-selling, award-winning Bay Area rapper and entrepreneur Berner, and his partner Jai, a leading Bay Area cultivator and breeder of Girl Scout Cookies, Gelato, and other top-selling strains of contemporary cannabis.
Cookies has one of the most in-demand, fast-moving, premium-priced cannabis products, with a library of over 50 cannabis varieties and product lines including indoor, outdoor and sungrown flower, pre-rolls, vape carts, edibles, and gel caps. Cookies' two flagship stores in Los Angeles on Melrose and Maywood plus a third location in Redding are stocked with elite, designer, high-end cannabis varieties grown in-house for unparalleled product quality control. Cookies' vertical integration ensures excellence and authenticity—from product execution to the final consumer retail experience. And Cookies' deep talent roster has decades of combined institutional knowledge of both the plant and the culture.
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 in this news release include, but are not limited to, statements regarding the distribution of the Cookies brand in Colorado.
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.