SLANG Worldwide Brings Leading Portfolio of Cannabis Products to Oklahoma

Published: June 27, 2019

SLANG Worldwide Brings Leading Portfolio of Cannabis Products to Oklahoma

SLANG Worldwide Inc., a global cannabis consumer packaged goods company with a robust portfolio of renowned brands, has announced a new strategic partnership with licensed processor Elite Cultivation LLC (“Elite”) to offer its branded cannabis products to patients throughout the State of Oklahoma. Pursuant to the partnership, Elite has been granted a license in Oklahoma to produce and distribute the SLANG product suite in Oklahoma, including its category-leading products O.penVAPE, Pressies, District Edibles, Bakked, and Magic Buzz. SLANG will receive royalty payments for each branded product sold in the state.

Oklahoma legalized cannabis for medical use in 2018 and has seen rapid growth in licensing activity. More than 138,000 registered patients and 1,500 licensed dispensaries have been approved by the State as of June 17, 2019. Historical Oklahoma medical cannabis sales topped $23 million in May 2019, based on recent reports from the Oklahoma Tax Commission.

“We are pleased to be able to offer our products to medical cannabis patients in Oklahoma,” said SLANG CEO Peter Miller. “We have demonstrated that we can be flexible in structuring our relationships with partners as we enter a new state, depending on the circumstances of the local market. Our expansion continues to be executed in a very capital efficient manner, with the goal of growing our branded unit sales.”

SLANG’s products will be manufactured by Elite and distributed and sold broadly in medical cannabis dispensaries throughout Oklahoma. Sales are expected to commence in the third quarter of 2019, starting with selected vaporizers, concentrates and edibles, with all SLANG products eventually available for sale.

“We are excited to partner with such a strong organization to bring the best products possible to the Oklahoma market,” said Richard Freeman of Elite Cultivation. “With their proven brands and leadership across multiple markets and our relationships in the state of Oklahoma, we feel that we have put together a solid team and a recipe for success.”

Oklahoma is the fourth new U.S. market SLANG has announced entry into in 2019. The Company has previously established operations through licensing agreements in Florida and Puerto Rico, and also anticipates entering the State of Washington pending the completion of a proposed acquisition, which would extend the Company’s U.S. footprint to 13 states. SLANG’s goal is to grow its brand share and demonstrate brand leadership in Oklahoma, as measured by branded unit sales and servings, similar to its performance in several other markets.

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