x min read

Slang Worldwide Inc (OTCMKTS: SLGWF) Is Today's Cannabis Focus

Slang Worldwide Inc (OTCMKTS: SLGWF) Is Today's Cannabis Focus
Written by
Alex Carlson
Published on
May 13, 2019
Copy URL
Share on LinkedIn
Share on Reddit
Share on Twitter/X
Share on Facebook
InsidrFinancial

Slang Worldwide Inc (OTCMKTS: SLGWF) is the latest cannabis player to pop on our radar. The company has built up quite a buzz and we decided to take a closer look.So far the stock has traded in a tight range for a cannabis play. Since SLGWF started trading on the OTC Markets back in February, the stock has traded between $1.40 and $2.50 a share. With Slang Worldwide stuck in the middle of the range, traders are asking if we are going to see new highs or lows first? SLGWF Daily ChartSlang Worldwide BackgroundFirst up, here's a little background info for those that aren't familiar with SLGWF. SLANG Worldwide Inc. 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. SLANG is listed on the Canadian Securities Exchange under the ticker symbol SLNG and SLGWF on the OTC Markets.SLANG Worldwide has the widest distribution of products in the US. Today, consumers can purchase SLANG's branded products in more than 2,600 retail stores across 11 US states. SLANG's portfolio of brands includes category-leading products such as O.penVAPE, Pressies, District Edibles, Bakked, Magic Buzz, Firefly vaporizers and the iconic Green House/Strain Hunters.SLANG Worldwide co-founders Peter Miller (CEO) and Billy Levy (President) co-founded Mettrum Health Corp, a leading Canadian licensed producer that was acquired by Canopy Growth in 2016. Both co-founders Peter Miller and Billy Levy have been honored as High Times 100 Most Influential People in Cannabis for 2019 for their leadership in the cannabis industry. SLANG Worldwide CEO Peter Miller said:

"SLANG Worldwide's mission is to build a portfolio of leading cannabis consumer products and an extensive distribution network to sell our products. In 2018, we laid the foundational building blocks with SLANG's acquisitions of Organa Brands and Firefly, which were completed in January 2019. Today we are a different company: SLANG is in a position of strength with a diverse portfolio of high performing cannabis brands distributed in over 2,600 stores across 11 US states, Puerto Rico, Canada, and Jamaica. We plan to leverage our brand, distribution and partnership strengths and expect rapid growth and scale in the months to come."

2018 ResultsThe Company reported revenue of $5.2 million in 2018, consisting primarily of rental income. Operating expenses in 2018 were $19.8 million, relating primarily to valuation adjustments, professional and non-cash marketing costs in the startup phase of the Company's business. Net loss in 2018 was $28.0 million, of which $23.8 million was related to non-cash marketing, goodwill adjustments, share compensation, and derivative adjustments. The Company's reported financial results for the first quarter ending March 31, 2019 will include results for Organa Brands and Firefly starting from January 22, 2019, the date the acquisitions were completed.2019 OutlookSlang Worldwide expects to expand its distribution network to bring new products to market and grow revenues. Slang's branded products are currently available in over 2,600 retail locations, 11 states, and five continents. The company plans to continue to expand the geographic areas where cannabis products can be bought.The Company plans to enter the Canadian market following an anticipated regulatory change that will permit the sale of cannabis-infused products in October 2019. Slang Worldwide is also evaluating additional international markets to identify suitable jurisdictions for potential market entry.Bottom LineCurrently trading with a market cap of $374 million, Slang Worldwide is an exciting story among cannabis stocks. Its co-founders have already built and sold one company to Canopy Growth Corp (NYSE: CGC). Is Slang Worldwide the next company they sell? If they do, it will certainly be at a much higher valuation than where the stock is currently trading at today. Slang has perhaps the best-branded products on the market and why we think SLGWF will see new highs sooner rather than later.We will be updating our subscribers as soon as we know more. For the latest updates on SLGWF, sign up below!Disclosure: We have no position in SLGWF and have not been compensated for this article.Photo by Yash Lucid from Pexels

Discover Hidden Gems

Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.