SLANG Worldwide Inc. announced the opening of its first recreational cannabis store in Vermont on October 1st, marking the Company's entry into the newly legalized recreational market. Operating under the Company's Ceres Collaborative cannabis group, which brings together two of today's most innovative cannabis operators, SLANG Worldwide and CeresMED, the storefront is located in the heart of Vermont's capital at 190 College Street, adjacent to the Church Street pedestrian mall in downtown Burlington. Centrally located in the city to benefit both local consumers and tourists with its 1,500-square-foot dispensary supported by 20 full-time employees, the dispensary is well-positioned to play a leading role in Vermont's evolving recreational cannabis market which is estimated to reach $265 million in annual sales by 2025.

SLANG has been serving the Vermont market for over 6 years by offering its industry-leading, O.pen cannabis vaporizer through the state's medical program under its longstanding partnership with CeresMED. The Company expanded its presence in Vermont's medical cannabis market in June 2021 through its acquisition of High Fidelity Inc. (Hi-Fi). Through the acquisition, SLANG gained a vertically integrated operational footprint in Vermont, which included CeresMED's existing medical dispensaries and a 28,000-square-foot cultivation and production lab, and retail distribution facility, along with two medical cannabis licenses.

SLANG has consolidated CeresMED's three currently operating medical dispensaries under its brand portfolio and has added two new greenhouses that will produce up to 1,500 cannabis plants a year. Ceres Collaborative has been a long-time advocate for adult-use cannabis retail sales in Vermont, and through CeresMED's deep roots in the state's medical program. Ceres Collaborative positions itself to continue its mission of educating the public, the healthcare community, local regulatory bodies and state officials on the medical and economic benefits of cannabis.

Due to work with the Vermont Cannabis Trades Association (VCTA), where CeresMED represented experienced cannabis operators on subcommittees of the Cannabis Control Board, CeresMED helped stimulate discussions about how to implement a public safety-focused and inclusive adult-use market.