- SLANG Worldwide (CNSX:SLNG) has entered into a licensing agreement with Wellness Connection in Maine, USA
- Wellness Connection is Maine’s largest licensed producer of medicinal cannabis products
- Under the agreement, Wellness Connection will produce and distribute SLANG’s product line to the Maine market
- The products will be available over the coming weeks at licensed outlets across the state
- SLANG Worldwide (SLNG) is currently trading at C$0.26, with a market cap of $73.95 million
SLANG Worldwide (CNSX:SLNG) has entered into a licensing agreement with Wellness Connection in Maine, USA.
The company, which is a subsidiary of Northeast Patients Group, is Maine’s largest producer of medicinal cannabis products.
It currently operates four dispensaries, a commercial kitchen and a state-of-the-art cultivation, processing and manufacturing site.
Under the terms of the agreement, Wellness Connection will receive exclusive licensing to produce and distribute SLANG’s product line to the Maine market.
Peter Miller, CEO of SLANG Worldwide, is optimistic about the arrangement.
“Wellness Connection is the leader in Maine with a strong sense of what the local market wants.
“With adult recreational use expected to spur significant growth of the market, we are pleased to establish a long-term partnership with a first-class producer in the state,” he said.
Since 2011, Wellness Connection has been a prominent advocate for access to high-quality cannabis products. The company has also been pushing for public policy reform and greater industry transparency.
Medicinal cannabis has been legal in the region since 1999, but adult-use and recreational sales are yet to be fully cleared. However, reports suggest that regulatory changes are expected to come into effect in the second half of this year.
The total cannabis market in Maine is forecast to reach more than C$412 million by 2022.
Patricia Rosi, CEO of Wellness Connection, said that her team is already familiar with SLANG’s product suite and its appeal to consumers.
“With the transition to legal adult use, we expect to see a continuation of the trend towards cannabis-infused products.
“SLANG’s leadership in multiple product categories will form an important part of our strategy to serve this segment of the market,” she added.
SLANG’s products will become available to consumers over the next few weeks via licensed outlets throughout the state.
SLANG Worldwide (SLNG) is currently trading at $0.26 with a market cap of $73.95 million at 9:32am EST.