SLANG Worldwide Inc. announced a term-loan financing with Trulieve Cannabis Corp., for aggregate proceeds of $17.3 million USD. At least 50% of the loan proceeds will be allocated to the development of operations in Vermont to achieve long-term profitability and further execute strategic growth objectives. In addition, the Company's board of directors has appointed Drew McManigle as interim Chief Executive Officer and Chairman of the Board, effective November 15th. Mr. McManigle succeeds Chris Driessen as Chief Executive Officer, upon his departure from the Company. Drew McManigle succeeds Peter Miller as Chairman of the Board and Mr. Miller remains a director of the Company. The Company further announces that it has accepted the resignation of each of Chris Donnelly, Chris Driessen, Kelly Ehler, Keith Stein and Robert Verdun from the Board, effective immediately.
SLANG Worldwide Inc. is a Canada-based cannabis consumer packaged goods company with a portfolio of various brands. The Company owns, licenses and/or markets five brands, which serve three categories: flower, inhalable concentrates and ingestible. Its portfolio consists of three distinct consumer packaged goods (CPG) brands, one retail brand and a product portfolio of 30 stock keeping units (SKUs). The Company brings its products to market through three channels: Core Markets-Colorado and Vermont, Emerging Markets-Strategic Partnerships in nine States and THC Free-Distribution & Ecommerce. Its Core Markets include Colorado and Vermont. Its Emerging Markets include Florida, Maine, New Mexico, Michigan, Pennsylvania, Washington, West Virginia, Maryland and Puerto Rico. Its THC Free includes dry herb vaporizer, the Firefly 2+, line of Alchemy Naturals CBD gummies, as well as batteries and various other product components including packaging and hardware.
SLANG WORLDWIDE INC. 