SLANG Worldwide Creates Third Core Market with Signing of Definitive Merger Agreement to Acquire High Fidelity, Vermont’s Largest Vertically Integrated Operation

CANNANNEW REPORT

Merger includes retail, distribution and cultivation capabilities in the limited license market where adult-use sales are expected to reach up to US$230 million in 2023[1]   Toronto, Ontario–(Newsfile Corp. – June 28, 2021) – SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) (“SLANG” or the “Company“), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced that it has entered into an agreement and plan of merger (the “Merger Agreement”) to acquire High Fidelity, Inc. (“HI-FI”), Vermont’s largest medical cannabis company (the “Merger”).   Key Transaction Benefits: Delivers an accretive transaction on prospective Adjusted EBITDA basis Broadens SLANG’s core market footprint to include Vermont, adding to its existing core markets of Colorado and Oregon Adds two of the five medical cannabis licenses in Vermont with four fully operational dispensaries, including in the Burlington area, with ability to add two new retail dispensaries upon receipt of licenses Expands SLANG’s operational footprint with the addition of Vermont’s leading vertically integrated cannabis company, which includes a 28,000-square-foot cultivation, production, lab, and distribution facility, with a planned 50,000-square-foot expansion expected to be completed in 2022 Strengthens SLANG’s experienced leadership further with engaged and aligned local management teams including a proven and profitable operator with an eight-year history   Key Vermont Market Benefits: Creates new jobs with competitive wages and benefit packages Brings fresh capital investment into the state, helping to build infrastructure to meet market demand Provides immediate opportunity for Vermont-branded product distribution to a larger US market through SLANG’s established 2200-outlet retail pipeline Adds expertise to support best manufacturing practices, innovation and regulatory compliance Creates strong partnership in supporting the social justice initiatives in Vermont’s cannabis laws   HI-FI is one of Vermont’s premier vertically integrated cannabis companies, founded in 2012 in Burlington, the state’s largest urban and cultural…

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Source : SLANG Worldwide Creates Third Core Market with Signing of Definitive Merger Agreement to Acquire High Fidelity, Vermont’s Largest Vertically Integrated Operation

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