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TORONTO, Feb. 19, 2019 /CNW/ - SLANG Worldwide (CNSX: SLNG) ("SLANG"), a global cannabis consumer packaged goods company, and Trulieve Cannabis (OTC: TCNNF & CNSX: TRUL) ("Trulieve"), a Florida-based national cannabis company, are pleased to announce a new strategic partnership to offer cannabis patients in Florida access to leading cannabis brands in Trulieve's dispensaries across the state. Pursuant to the partnership, Trulieve has an exclusive license to SLANG's extensive portfolio through its U.S. subsidiary, National Concessions Group, Inc. (doing business as Organa Brands).
"Great partnerships and collaboration are foundational to SLANG's culture, scalability, and growth strategy," said SLANG's CEO Peter Miller. "Not only does Trulieve operate one of the most impressive cannabis cultivation and distribution businesses in Florida, they also share SLANG's commitment to bringing leading cannabis products to consumers. Every year, SLANG products deliver millions of high-quality cannabis experiences to consumers around the world and, in partnership with Trulieve, we look forward to providing those same exceptional cannabis products to Florida's patients."
With over 180,000 registered medical marijuana patients, a figure that has tripled since 2017, Florida represents one of the most significant cannabis markets in the United States. Trulieve is responsible for consistently producing and distributing between 60% and 80% of cannabis in the state, per the Florida Department of Health.
Thanks to Trulieve's extensive distribution network in Florida, which includes 24 dispensaries and home delivery available statewide, this partnership represents a significant opportunity to bring SLANG's expansive, unique portfolio of branded cannabis products to Florida's rapidly growing patient base and offer relief in a variety of consumption methods, including cannabis-infused edibles and drinks.
"SLANG operates with the same goals as Trulieve, working to expand patient access and create products that are high-quality, consistent, and reliable," said Trulieve CEO Kim Rivers. "SLANG's expansive portfolio ranges from vaporizer cartridges to edibles to concentrates, all products that will provide Florida's patients with the effective, natural relief they're seeking in ways that are innovative and fresh."
Through the strategic partnership, SLANG will introduce the O.penVAPE, Bakked, District Edibles, and Magic Buzz product lines to Florida medical patients. Availability of edible products will be subject to regulatory approval by the Florida Department of Health. As part of the agreement signed by the two groups, SLANG will collaborate with Trulieve with regard to the production and distribution of the SLANG portfolio of products, offering in-house training to staff in preparation for production and distribution exclusively through Trulieve.
SLANG is a leading cannabis-focused consumer packaged goods company. 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.
For more information, please visit www.SLANGWorldwide.co
Trulieve Cannabis Corp. is a vertically integrated "seed to sale" company and is the first and largest fully licensed cannabis company in the State of Florida. Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida, as well as directly to patients via home delivery. Trulieve also operates in California and Massachusetts.
Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL.
To learn more about Trulieve, visit www.Trulieve.com.
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 document include, but are not limited to, statements regarding the anticipated benefits of the relationship between SLANG and Trulieve, the receipt of anticipated regulatory approvals and ultimate sale of SLANG products in Trulieve dispensaries, and the anticipated growth of the Florida medical cannabis market generally.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG and Trulieve 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 possibility that the Company or Trulieve will be unable to successfully integrate the Organa Brands product portfolio in the State of Florida, the risks associated with international and foreign operations and the other risks identified under the heading "Risk Factors" in SLANG's final long form prospectus dated January 17, 2019, and Trulieve's Annual Information Form for the year ended December 31, 2017, each as filed on SEDAR at www.sedar.com. Neither SLANG nor Trulieve is 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE SLANG WORLDWIDE
For further information: Kevin Darmody, Director, Investor Relations, (850) 480-7955, [email protected]; Victoria Walker, Director of Marketing & Community Relations, (704) 773-3446, [email protected]