Toronto, Ontario–(Newsfile Corp. – August 27, 2024) – SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) (“SLANG” or the “Company”), a cannabis consumer goods (CPG) company, today announced financial results for the three and six months ended June 30, 2024. Unless otherwise stated, all figures in this press release are in Canadian dollars.

John Moynan, Chief Executive Officer of SLANG, said: “This quarter, we achieved lower operating expenses than last year, increased wholesale sales in Vermont and increased sales of our industry-leading Alchemy Natural CBD gummies. However, we continue to see increasing competitive headwinds in our core and emerging markets, resulting in declines in revenue, gross profit and adjusted EBITDA.¹. The decline in retail sales, as well as limited cash available for general operating purposes and increasing overhead costs of being a publicly traded company, negatively impacted the Company’s available cash from operating activities. As a result of these factors, SLANG continues to work with PGP Capital Advisors as our financial advisor as we pursue a full range of strategic and financial alternatives. SLANG’s management team, as well as the Board of Directors, would like to thank our shareholders for their continued support and emphasize that we are committed to pursuing an acceptable resolution. We will keep our shareholders updated as we work through this process.”