Slinger Extends Distribution Agreement with Tennis Bot in Indonesia

Rhea-AI Summary

Slinger (OTCQB: SLBG) has extended its distribution agreement with Tennis Bot, a leading Asian racquet sports distributor, covering Indonesia and other regions. Tennis Bot aims to enhance the tennis experience amidst a surge in participation due to the pandemic. Key growth metrics include a 71% increase in local clubs offering tennis programs and a significant rise in junior players. The Slinger Bag has gained acclaim, securing distribution deals valued at over $250M globally. Slinger focuses on innovation in tennis equipment to capture the growing market, especially in Asia.

Positive

• Extension of distribution agreement with Tennis Bot enhances market reach.
• Slinger Bag has received widespread acclaim and is sold in over 60 countries.
• Distribution deals worth over $250M expected over the next five years.
• Increase in tennis participation in Indonesia, with 71% more clubs offering development programs.

Negative

• None.

The leading Asian racquet sports distributor is extending its original distribution agreement with Slinger

BALTIMORE, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Slinger^® (OTCQB: SLBG), a leading connected sports technology company, today announced an extension to its Indonesian distribution agreement with Tennis Bot, a leading racquet sports distributor in Asia who has been representing Slinger across Indonesia, Hong Kong, Malaysia, and Singapore.

Tennis Bot is a leading provider of innovative experiences for tennis players who want to improve their game and have more fun on the court. Initially started in Singapore, Tennis Bot has expanded across the Asia-Pacific Region and now serves customers located in 14 different countries, including Indonesia.

"We are delighted to extend our partnership with Slinger,” said Tennis Bot Founder Greg Experton. “We look forward to continuing to serve tennis enthusiasts with the highest levels of service while contributing to making tennis an even more popular sport in Indonesia. The Slinger Bag is already available for purchase in-store or online here."

Tennis has seen strong growth in terms of participation in Indonesia during the pandemic due to the socially distanced nature of the sport.¹

• An increase of 1,426 players aged 12 and under in the first quarter of this year (more than half of the total number of junior players last year).
• The number of local clubs that run tennis development programs rise from 38 clubs and academies in 2020 to 65 in the first quarter of 2021, up by 71 percent.
• The number of coaches in the first four months of this year also rose to 111 people, a 70 percent increase from a total of 65 coaches throughout 2020.
  

“Greg and the Tennis Bot team have been tremendous partners for us across Indonesia and the other Asian markets that they represent,” said Mike Ballardie, CEO of Slinger. “We are thrilled to extend our distribution agreement with them and to capitalize on the increase in popularity and participation that tennis is receiving right now. Tennis is the perfect sport for socially distanced times, and we look forward to making lifelong tennis players out of all of the newcomers to the sport while continuing to bring innovation and convenience to every tennis enthusiast in the world.”

The Slinger Bag has quickly become one of the most sought-after consumer tech products in tennis, receiving widespread acclaim in the process and is now sold in 60+ countries on five continents and has achieved distribution deals worth over $250M over the next five years.

The Slinger Bag is available to order now - to find out more about Slinger Bag, visit https://slingerbag.com.

ENDS

For Slinger Investor Relations inquiries visit www.slingerbagir.com, or contact investors@slingerbag.com or 443-407-7564

For Slinger media enquiries in U.S & Canada contact the US Press Office, Brigid Margeson, bmargeson@uproarpr.com, at Uproar PR, 415.939.8779 

For Slinger media enquiries in U.K, Europe and Australia contact the UK Press Office, Joe Murgatroyd, Press@slingerbag.com, at Brandnation, +44(0)207 940 7294

Slinger^® is a leading connected sports company focused on delivering innovative, game improvement technologies and equipment across tennis and other ball sports. Slinger^® enhances the skill and enjoyment levels of players of all ages and abilities and is initially focused on building its brand within the global tennis market, through its Slinger Bag^® Tennis Ball Launcher and Accessories. Slinger has underpinned its proof of concept with over $250M of retail value in global distribution agreements since the Spring of 2020 for the Slinger Bag^®. Led by CEO Mike Ballardie, the former Prince CEO and Wilson EMEA racquet sports executive, Slinger^® is disrupting what are traditional global sports markets with its patented, highly transportable, and affordable Slinger Bag^® Launcher and its suite of connected app and SaaS services.

Slinger Bag Disclaimer: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company’s products and services, the ability to complete development plans in a timely manner, changes in relationships with third parties, product mix sold by the Company and other factors described in the Company’s most recent periodic filings with the Securities and Exchange Commission, including its 2019 Annual Report on Form 10-K and quarterly reports on Form 10-Q.

Forward-Looking Statements: This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statement that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.

These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential, "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

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¹ https://www.thejakartapost.com/life/2021/06/29/indonesian-tennis-scene-surges-in-popularity-amid-pandemic.html

Attachment

• Slinger Bag Inc.

FAQ

What is the significance of Slinger extending its agreement with Tennis Bot?

The extension allows Slinger (OTCQB: SLBG) to improve its market presence in Asia, specifically in Indonesia, amplifying distribution and accessibility of its products.

How has tennis participation changed in Indonesia according to the press release?

Tennis participation has surged, with a reported increase of 1,426 junior players aged 12 and under and 71% more local clubs offering tennis development programs.

What financial impact is expected from the distribution agreement extension?

The extended agreement is part of a broader strategy that has already secured over $250 million in distribution deals for the Slinger Bag over the next five years.

In how many countries is the Slinger Bag currently sold?

The Slinger Bag is now available in over 60 countries worldwide.