SLANG WORLDWIDE INC - SLGWF STOCK NEWS

SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) has announced the resignation of Todd Boudreau from its Board of Directors, effective immediately. Mr. Boudreau, who joined the Board in 2022, stepped down due to other commitments. Board Chair Ruth Chun expressed gratitude for Mr. Boudreau's contributions and expertise during his tenure, wishing him well in his future endeavors.

The company has provided contact information for CFO Mikel Rutherford and KCSA Strategic Communications for further inquiries. Interested parties can be added to SLANG's email distribution list by contacting SLNG@kcsa.com.

SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) released its Q2 2024 financial results, reporting a 26% year-over-year decrease in revenue to $6.28 million. The company experienced a 38% decrease in gross profit to $2.69 million and a 9% decrease in gross margin to 43%. Operating expenses decreased by 12% to $5.47 million. SLANG reported a total comprehensive loss of $11.50 million, a 123% increase from Q2 2023. The company's Adjusted EBITDA was ($1.42 million), down from ($0.76 million) in Q2 2023. SLANG's CEO, John Moynan, cited increased competitive headwinds in Core and Emerging Markets as factors contributing to the decline in sales revenue, gross profit, and Adjusted EBITDA. The company is working with PGP Capital Advisors to pursue strategic and financial alternatives.

SLANG Worldwide, a prominent global cannabis CPG company, announced the resignation of Sandra Levy from its Board of Directors, effective immediately. Levy is stepping down to concentrate on other external responsibilities and engagements. Ruth Chun, Chair of the Board, expressed gratitude for Levy's contributions and wished her success in her future endeavors. SLANG trades under the symbols CSE: SLNG and OTCQB: SLGWF.

SLANG Worldwide, a top global cannabis consumer packaged goods (CPG) company, has announced the issuance of equity incentives. The company has granted a total of 3,299,040 incentive stock options to its independent directors. These non-transferable options allow directors to acquire common shares of SLANG at CDN$0.05 per option. The options are exercisable until June 14, 2029, and are subject to vesting provisions, with one-third vesting immediately and the remaining two-thirds vesting on each anniversary of the grant date.

SLANG Worldwide reported Q1 2024 financial results, showing $7.03 million in revenue, a 35% decline from Q1 2023. The company cited increased competition in core markets such as Vermont and Colorado for this decline. However, the e-commerce segment saw a 45% revenue increase, and Vermont wholesale sales surged by 417% year-over-year. Gross profit decreased by 41% to $3.36 million, with a gross margin of 48%, down from 53% in Q1 2023. Operating expenses dropped by 4% year-over-year to $5.54 million. EBITDA fell to -$1.48 million from $0.68 million in Q1 2023. Cash and restricted cash declined to $8.32 million from $9.04 million at the end of 2023.

The company highlighted growth in its Alchemy Naturals CBD gummies, with e-commerce sales rising 53% quarter-over-quarter to $0.46 million. SLANG also signed a new distribution agreement for its CBD gummies across the U.S. Lastly, the company remains optimistic about potential cannabis rescheduling from Schedule I to Schedule III in the U.S.

SLANG Worldwide (CSE: SLNG, OTCQB: SLGWF), a leading global cannabis consumer packaged goods company, announced its first quarter 2024 financial results will be released on May 30, 2024, before market opening. Management will host a conference call at 10:00 am ET on the same day to discuss these results.

The call can be accessed toll-free at (888) 440-5983 in the US or +1 (646) 960-0202 internationally, using conference ID 6291438. Additionally, a live webcast will be available on the Company's website.

SLANG Worldwide Inc. reported a 7% decrease in revenue for FY 2023 but achieved a gross profit margin of 52%. Operating expenses decreased by 21%, resulting in a 34% decrease in total comprehensive loss. The company launched a wholesale offering in Vermont and focused on strategic growth initiatives. EBITDA improved by $5.66 million, and the company maintained a strong financial position with $9.04 million in cash and restricted cash.

SLANG Worldwide Inc. announced the release of its fourth quarter and full year 2023 financial results and conference call on April 12, 2024. The company, a global cannabis CPG leader, will discuss the results during an investor call at 10:00 am ET.

SLANG Worldwide Inc. announces the launch of its vape brand, O.pen, in Arizona through a partnership with Trulieve Cannabis Corp. The brand will be available in Trulieve's 21 retail stores and over 140 additional retail stores in the state, marking SLANG's expansion into its 13th key market. The CEO of SLANG, John Moynan, sees this as a significant development in their national expansion strategy. The strategic partnership with Trulieve has also led to successful product launches in Maryland, Florida, and West Virginia, with Pennsylvania expected soon.