Numerous States and Countries to Re-evaluate Stance on Cannabis as Global Sales Grow - Seite 2

SLANG Worldwide Inc. (CSE: SLNG) announced breaking news last week that today the company will list publicly through an IPO, "the Company completed its previously announced offering of subscription receipts of the Company (the "Subscription Receipts") pursuant to which the Company issued 43,998,590 Subscription Receipts at a price of C$1.50 per Subscription Receipt for aggregate gross proceeds of approximately $66 million (the "Subscription Receipt Offering"). SLANG has subsequently delivered an escrow release notice (the "Escrow Release Notice") to Odyssey Trust Company (the "Subscription Receipt Agent") pursuant to the terms of a subscription receipt agreement dated September 26, 2018 between SLANG, the Subscription Receipt Agent and Canaccord Genuity Corp. (the "Subscription Receipt Agreement") confirming that SLANG has satisfied all of the escrow release conditions, including (i) the completion or satisfaction or waiver of all conditions precedent (other than funding) to the completion of the Acquisitions (as defined herein); (ii) SLANG obtaining a receipt for its final (long-form) prospectus dated January 17, 2019 (the "Prospectus"); and (iii) SLANG obtaining conditional approval from the Canadian Securities Exchange (the "CSE") for the listing of the common shares in the capital of SLANG (the "Common Shares") on the CSE.

In connection with the delivery of the Escrow Release Notice, the escrowed funds held by the Subscription Receipt Agent, less certain commissions and expenses, have been released from escrow in order to allow SLANG to, among other things, acquire: (i) all of the interests and equity in National Concessions Group, Inc. ("Organa Brands") from the existing security holders of Organa Brands (the "Organa Brands Acquisition"); and (ii) all of the interests and equity in NWT Holdings, LLC ("Firefly") from the existing security holders of Firefly (the "Firefly Acquisition" and together with the Organa Brands Acquisition, the "Acquisitions"). Additionally, pursuant to the Organa Brands Acquisition, the Company has been granted an option to acquire all of the outstanding securities of Allied Concessions Group Inc. ("ACG") and an option to acquire all of the outstanding securities of NS Holdings, Inc. ("NCG"). NSH and ACG are state licensed entities with cannabis related operations further up the supply chain.