Slang Worldwide Inc (OTCMKTS:SLGWF) posted revenues of CAD 9.657 million in Q4 2020. Its cash equivalents and cash balance as of December 31, 2020, is $6.476 million.
Enters a strategic pact with Snowcrest LLC
Slang signed a strategic pact with Snowcrest LLC on a royalty payment basis. The deal allows Snowcrest to offer cannabis products of Slang to the patients and consumers in Washington.
Snowcrest will also engage in the manufacture of cannabis products under the Slang brand. The sales and marketing teams of Slang will distribute these products to the dispensaries across the state.
Expects to unveil District Edibles
Slang will introduce District Edibles (seven SKUs), an innovative line of SLANG products, in Florida by May 2021.
Slang, Chris Driessen, said Slang strengthened its leadership and gained strength by signing strategic pacts and integrating the companies. The plant-touching company is in the early stages of reporting meaningful revenues. Slang expects to report profits soon.
Slang posted solid results in Q4 2020 and set the stage to report promising results in 2021. Chris said entering pacts with targeted companies promote growth. The company is excited to enter a deal with one of the leading processors and cultivators – Snowcrest in the state.
Takes over LBA Global Corporation
Slang took over LBA Global Corporation, based in Oregon. It also completed the takeover of LBA Global’s auxiliary – Lunchbox Distribution and Lunchbox Alchemy brand portfolio.
Following this deal, Slang will strengthen its leadership position in Oregon by adding best-selling products and robust production, cannabis extraction, and distribution capabilities. The integrated operation will improve revenues and profits in Oregon.
As per the terms of the transaction, Slang issued 23.913 million shares to the previous owners of LBA to get an equity stake in LBA and its auxiliaries.
Unveils innovative “Gyro” Dabbing Product
Slang unveiled a new product – Gyro. The gyroscopic and spill-proof container comprises live resin concentrates for dabbing.
The spill-proof containers ensure the safe transport of the extracts. Chris said Gyro ensures convenient and simple dabbing to offer an improved experience for the customers.
Slang signed a strategic deal to bring Slang branded products to the Californians. The pact allows Natura an exclusive license to manufacture and distribute Slang branded products in California.
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