SLANG Worldwide Announces Issuance of Equity Incentives

Rhea-AI Summary

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.

Positive

• Issuance of 3,299,040 incentive stock options can attract and retain skilled independent directors.
• Options are granted at CDN$0.05 per share, potentially increasing director investment in SLANG.
• Options are exercisable until 2029, providing a long-term incentive for directors.
• Vesting provisions ensure directors have a continued interest in the company's performance.

Negative

• Issuance of a large number of options could dilute existing shareholder value.
• If stock price does not increase, the incentive options may not be an effective motivational tool.
• Administrative and regulatory costs associated with issuing and managing stock options.

Toronto, Ontario--(Newsfile Corp. - June 14, 2024) - SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, has approved the grant of 3,299,040 incentive stock options to the independent directors of the Company (the "Options") to acquire common shares in the capital of SLANG (each a "Common Share"). The Options are non-transferable and exercisable until June 14, 2029, at CDN$0.05 per Option, subject to vesting provisions, with one-third vesting on the date of grant and one-third vesting on each anniversary of the date of grant.

About SLANG Worldwide Inc.

SLANG Worldwide Inc. is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 13 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, Ceres, Firefly, and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com.

To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject.

Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's annual information form dated April 12, 2024, and other disclosure documents available on SEDAR+ at www.sedarplus.ca. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Reader Advisory

Neither the Canadian Securities Exchange nor the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.

Company Contact
Mikel Rutherford, CFO
833-752-6499

KCSA Strategic Communications
Phil Carlson
SLANG@kcsa.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213184

FAQ

What does the issuance of equity incentives mean for SLANG Worldwide (SLGWF)?

SLANG has granted 3,299,040 incentive stock options to independent directors, allowing them to acquire common shares at CDN$0.05 per option, exercisable until 2029, to incentivize and retain skilled leadership.

How many incentive stock options did SLANG Worldwide (SLGWF) issue?

SLANG issued 3,299,040 incentive stock options to its independent directors.

What is the exercise price for SLANG Worldwide's (SLGWF) stock options?

The exercise price for the stock options is CDN$0.05 per option.

When do the incentive stock options granted by SLANG Worldwide (SLGWF) expire?

The incentive stock options are exercisable until June 14, 2029.

How is the vesting period structured for SLANG Worldwide's (SLGWF) stock options?

One-third of the options vest immediately, with the remaining two-thirds vesting on each anniversary of the grant date.