Blueberries Medical Corp. (CSE: BBM) (OTCQB: BBRRF) (FRA: 1OA) (“Blueberries“), a leading Latin American licensed producer of medicinal cannabis and cannabis-derived products and SLANG Worldwide Inc. (CSE: SLNG), (Frankfurt: 84S), (“SLANG”) a leading global cannabis consumer packaged goods (“CPG”) company with a robust portfolio of renowned brands are pleased to announce that the companies have entered into a memorandum of understanding (“MOU”) dated June 10, 2019 to develop a strategic partnership (“Strategic Partnership”) through which Blueberries may license SLANG’s extensive portfolio of renowned cannabis brands and leverage SLANG’s industry leading know-how and intellectual property to process and formulate cannabis products in Colombia and Argentina. The MOU was negotiated at arm’s length.
Blueberries and SLANG will also collaborate on the commercialization of products into other Latin American countries as regulatory framework is implemented. Latin America is among the world’s fastest-growing cannabis markets with expected cannabis spending of $12-billion (U.S.) by 2028 (Prohibition Partners) and an estimated 68 million potential medical cannabis patients currently (Quintiles IMS).
“SLANG is a global leader in the cannabis-based consumer packaged goods industry, with an extensive portfolio of brands, including some of the best-selling cannabis products in the world. Offering these high quality and internationally recognized brands will assist Blueberries in leveraging early-mover advantage and capturing market share in the vast Latin American market,” stated Patricio Stocker, Chief Executive Officer of Blueberries. “SLANG’s industry leading experience, depth of expertise and expansive network will create additional value for Blueberries as we continue to offer high quality proprietary products to consumers across diverse markets in Latin America and globally, and position Blueberries as a leader in this new market segment as it continues to evolve.”
The strategic partnership will include:
- The exclusive license to Blueberries of select SLANG propriety standard operating procedures (“SOPs”) pertaining to medical cannabis and cannabis-derived products in Colombia and Argentina
- An exclusive right of first refusal to sell and distribute select SLANG products in Colombia and Argentina
- Collaboration on new and existing products
- On-site consulting services to facilitate the integration of the SOPs at Blueberries’ manufacturing facilities
“SLANG is continuing to seek opportunities to increase its global distribution footprint for our industry leading portfolio of CPG brands. This partnership represents the jumpstart of our expansion in the rapidly growing Latin American market,” said Peter Miller, CEO of SLANG. “Blueberries’ unique industry expertise and CPG experience makes them the ideal partner for SLANG as we begin to extend our products beyond North America.”
SLANG is a leading global cannabis consumer packaged goods company with a robust portfolio of renowned brands distributed across 2,600 stores in 11 states in the US. SLANG is focused on acquiring and developing market-proven regional brands as well as creating new brands to meet the needs of cannabis consumers worldwide. SLANG is listed on the Canadian Securities Exchange under the ticker symbol SLNG and on the Frankfurt Stock Exchange under the trading symbol 84S. For more information, please visit www.slangww.com.
About Blueberries Medical Corp.
Blueberries is a Latin American licensed producer of naturally grown premium quality cannabis with its primary operations ideally located in the Bogotá Savannah of central Colombia and operations currently being established in Argentina. The Company is led by a specialized team with proprietary expertise in agriculture, genetics, extraction, medicine, pharmacology and marketing, Blueberries is fully licensed for the cultivation, production, domestic distribution, and international export of CBD and THC-based medical cannabis in Colombia. Blueberries’ combination of leading scientific expertise, agricultural advantages and distribution arrangements has positioned the Company to become a leading international supplier of naturally grown, processed, and standardized medicinal-grade cannabis oil extracts and related products.