SLANG Worldwide Partners with Natura to Bring Leading Portfolio of Cannabis Brands to California
SLANG Worldwide Inc. (CNSX: SLNG), (OTCQB: SLGWF) is a leading global cannabis consumer packaged goods company with a diversified portfolio of popular brands, and Natura Life + Science, a vertically integrated cannabis contract manufacturing company. The company announces a strategic partnership to introduce SLANG-branded products to consumers in California.
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. SLANG is listed on the Canadian Securities Exchange under the ticker symbol SLNG and on the OTCQB under the symbol SLGWF.
Natura’s vertically integrated platform enables the company to bring cannabis products to the emerging California marketplace, while also creating trust in the industry through reliable service, supply-chain integrity and quality assurance. Natura is committed to delivering quality, consistent, trusted cannabis products to consumers on a global scale by commercializing the industry in the most responsible manner. Natura believes in supporting the community and its employees through a set of core values every employee embodies.
Pursuant to the partnership, Natura has been granted an exclusive license to produce and distribute the SLANG product suite in California, including its category-leading brands O.penVAPE, Firefly, Pressies, District Edibles, and Bakked. SLANG will also provide sales consulting services and will receive royalty payments for each branded product sold in the state.
“California presents the perfect opportunity for us to lean into our emerging markets model. By partnering with a best-in-class operator like Natura, we are confident that we will be positioned for long-term growth and success within the Golden State,” said SLANG President & CEO Chris Driessen. “Our brand District Edibles was at one point the top selling gummy product in California, and represented nearly $2 million dollars per month in retail revenue at its peak. We expect to achieve similar success across all SLANG brands as a result of this new partnership.”
Natura is set to begin production at one of the largest cannabis centers in the United States in Sacramento. The 11.4 acre campus includes a 200,000 square foot cultivation facility and a 65,000 square foot processing, manufacturing, distribution and delivery facility. The facilities are built to adhere to GAP, GMP, FDA, and LEED standards, and employ sophisticated technology including full automation, micro-climate controls, traceability and analytics.
“We are pleased to partner with SLANG in our first true licensing agreement in California,” said Sid Gupta, Natura VP of Strategy. “They have a collection of proven brands spanning multiple categories with solid recognition among consumers in the state.”
SLANG has previously enjoyed success in the California market before making a strategic decision to recalibrate its supply chain relationships in the state. Sales of SLANG-branded products in California totaled nearly 1.3 million branded units and 57 million branded servings in 2019, as previously reported in the Company’s financial disclosure. SLANG-branded products earned top 10 rankings in California in both the gummy and distillate categories in 2019, according to BDSA.
California is the largest cannabis market in the U.S., generating sales of nearly $3 billion USD in 2019 and growing by 15% in the first eight months of 2020 compared to the same period last year, according to BDSA.