SLANG Worldwide Announces Selected Preliminary Fourth Quarter and Full Year 2020 Financial Results and Corporate Updates

SLANG Worldwide Inc. (CNSX: SLNG) (OTCMKTS: SLGWF), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today issued preliminary, unaudited, selected financial results for the full year and three months ended December 31, 2020 as well as commentary on the current business environment and outlook. All figures in this press release are stated in Canadian dollars unless otherwise noted.

Preliminary 2020 Financial Results

  • Full-year 2020 revenue of $26,819,576. Fourth quarter 2020 revenue of $9,657,645
  • $6,476,873 of cash and cash equivalents at December 31, 2020
  • Adjusted EBITDA loss in a range of ($900,000) to ($1,400,000)
  • The Company expects to file its combined Q4 and FY2020 Financial results on or about April 30, 2021, followed by an investor conference call

Subsequent Corporate Highlights

  • The Company has announced that it has entered into a strategic partnership with Snowcrest LLC (“Snowcrest”), a cultivator and processor in Vancouver, WA, to bring SLANG’s cannabis products to consumers and patients in Washington. As part of this partnership, Snowcrest will manufacture SLANG branded products and SLANG’s sales and marketing teams will work to place these products in dispensaries across the state. The agreement follows a royalty-based payment structure. In addition, Dolce Foglia, LLC, a full-service flavor house catering to the growing food & beverage industries, is also a partner in the Washington license.
  • The Company has announced that it expects to launch District Edibles by May 2021, a new line of SLANG products that will be available in the State of Florida with seven SKUs.

Management Commentary:

Chris Driessen, CEO of SLANG, said, “In 2020 Slang became a stronger, more vibrant business as we integrated companies, signed new strategic partnerships and continued to grow our brands. We are now a plant touching company, which is in the early phases of providing more meaningful revenue and the opportunity to generate profit in the coming quarters. In Q4, we generated solid results to cap off our year and set the stage for a promising 2021. Forming strong partnerships is a crucial element of our growth strategy and we are delighted to partner with Snowcrest, one of the premier cultivators and processors in the state. This partnership provides us with the opportunity to expand the supply of our expansive and unique portfolio of branded cannabis products to reach a greater number of consumers and build brand recognition in the state.”


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To be added to SLANG’s email distribution list, please email [email protected] with “SLNG” in the subject.

About SLANG Worldwide Inc.

SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. The Company specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. For more information, please visit www.slangww.com.

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