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SLANG Worldwide Inc. (SLGWF) wants to be the Coca-Cola of Cannabis

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SLANG Worldwide Inc. (SLGWF) is a consumer package goods company swimming with the big boys. SLGWF and SLG on the CSE is a company specializing in the latter end of the supply chain. The company’s most important product to date is the O.penVape, the second-best selling legal cannabis product in the US market.  All told, SLGWF has  94 products on the market, 2,600 stores in their distribution pipeline and $250 million in historical retail sales deserves a little more hype.

A number of Slang’s other products are top-five in sales including District Edibles and their beverage product, Magic Buzz. SLGWF opened on the CSE at C$1.50 per share and is now trading above C$2.00.

SLANG Worldwide Inc. (SLGWF) supplies and distributes vaporizer products to wholesale distributors and online consumers in the United States, Canada, Europe, and Australasia. Its vaporizers service various cannabis formats, including flower, liquid oil, and solid extracts. The company also markets companion accessories for its vaporizers comprising carrying cases, exchangeable faceplates, charging stations, cleaning kits, and other items. In addition, it sells hardware components, non-cannabis ingredients, and marketing materials required to manufacture its consumer brands to its cannabis-related licensees covering dispensaries and headshops. SLANG Worldwide Inc. sells its products through its owned e-commerce portal and through a third-party wholesale distributor. The company was formerly known as Fire Cannabis Inc. and changed its name to SLANG Worldwide Inc. in November 26, 2018. SLANG Worldwide Inc. was incorporated in 2017 and is headquartered in Toronto, Canada.

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“…We’re really lucky that everything we really do is really capital-light. We don’t do any cultivation at scale; we don’t do any retail. We find cultivation gets commoditized pretty quickly, and for the return you get, it’s incredibly capital-intensive building out indoor greenhouses, anything really other than outdoor. And then on the retail side, we just don’t want to compete with our customers. Retailers are our customers, and if you have a chain of stores, it’s unlikely another chain of stores is interested in carrying your brands, and we can see that, you know, in the real world: mainstream grocers, any branded retail environment typically doesn’t carry its competitors’ products.”

The Trulieve Factor

Recently, SLGWF inked an exclusive licensing agreement will put the company’s brands on Trulieve shelves across Florida. The latter is a vertically integrated state, and this partnership grants SLANG entrance to the market without investing capital in infrastructure and owning a license.

Prior to their IPO, Slang raised C$66 million, which the two founders plan to use to expand into emerging cannabis locales like Europe and Latin America. Besides this amount of capital, the company is also backed by Canopy Growth Corp. This relationship goes back to Mettrum Health Corp., which Canopy acquired for $324 million and then formed a working relationship with Miller and Levy’s new CPG company, Slang. The warrant the two created works through Agripharm Corp., a licensed cannabis producer that’s 20 percent owned by Slang and 40 percent owned by Spectrum Cannabis Canada Inc., a subsidiary of Canopy. Canopy has a warrant that allows it to acquire 32 million shares in Slang, or about 15 percent of the company, if the U.S. legalizes cannabis at the federal level.

SLANG Worldwide Inc. (SLGWF) has a nice track record of banking revenues and really seems like it could grow as big as consumer demand. SLGWF has a market cap of $425.29M and a float of 79.96M. The stock is one to watch as more and more states open their borders for cannabis sales. Sign-up for continuing coverage on shares of $SLGWF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $SLGWF, either long or short, and we have not been compensated for this article.

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