Slang Worldwide Inc. (OTC: SLGWF) (CSE: SLNG) has formed a new strategic partnership with Southern Development Holdings to offer its branded cannabis products to patients across Puerto Rico. Pursuant to the partnership, SDH has been granted an exclusive licence in Puerto Rico to the Slang product suite, including its category-leading products O.penVAPE, :Pressies, District Edibles, Bakked and Magic Buzz.
Slang’s products will be produced in Southern Development’s state-of-the-art Good Manufacturing Practice facility, and distributed and sold broadly in medical cannabis dispensaries throughout Puerto Rico. Slang will receive royalty payments for each Slang-branded product sold in Puerto Rico, with sales expected to begin in the second quarter of 2019.
The company’s entrance into Puerto Rico represents its second major market expansion initiative in Q1 2019, following its previously announced partnership with Florida-based Trulieve. Today, consumers can purchase Slang’s branded products in more than 2,600 retail stores across 11 U.S. states.
Puerto Rico has one of the highest number of medical cannabis patients per capita of the United States territories, with over 59,000 patients and 71 dispensaries, as of February, 2019, per the Puerto Rico Department of Health. Beyond its existing network of patients, Puerto Rico also offers reciprocal dispensary access to out-of-town visitors who hold active medical marijuana licences from qualified state programs, as well as on-line registration for those interested in obtaining a medical cannabis permit.
“We are excited to bring our high-quality brands to consumers in Puerto Rico and the Latin American market,” said Slang chief executive officer Peter Miller. “Building global brands requires teamwork. Leveraging partnerships with the highest-calibre operators enhances Slang’s brand share and revenue with impressive scalability.”
The Southern Development leadership team comprises some of the best commercial agriculture and distribution experience in the territory. With 30 years of expertise in the processing and distribution of grain, coffee, rice, beverages and other consumer packaged products, the Southern Development team offers the experience of one of largest agro-industrial companies in the Caribbean.
About Slang Worldwide Inc.
Slang is a leading cannabis-focused consumer packaged goods company. The company is focused on acquiring and developing market-proven regional brands, as well as creating new brands to meet the needs of cannabis consumers worldwide.