TORONTO, November 21, 2024 – SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) (“SLANG” or the “Company”) announced that, following a November 14, 2024 court order, certain Colorado subsidiaries entered receivership under Justice Goldberg of the Denver County District Court. Highline Financial Group, LLC was appointed receiver for these subsidiaries’ assets.

SLANG also reported a conditional extension to its waiver and support agreement with secured lenders (the “Lenders”) under its amended November 15, 2021 credit and guaranty agreement. Due to outstanding payments, the Lenders and SLANG agreed to extend the standstill period until the earliest of: three days after the Lenders issue written termination notice; an Accommodation Termination Event (as defined in the agreement); or January 31, 2025. SLANG agreed to forgo any legal action to impede the Lenders’ enforcement rights.

About SLANG Worldwide Inc.

SLANG Worldwide Inc. is a leading cannabis consumer packaged goods company, with a diverse portfolio of five brands and products distributed across 13 U.S. markets. Learn more at slangww.com.

Forward-Looking Statements

This release contains forward-looking statements, which involve risks and uncertainties that could significantly affect actual results. These statements are not historical facts and are often indicated by words like “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential,” and similar expressions. Forward-looking statements here include those concerning the Company’s inability to repay debts, the extension of the support agreement, and the terms of its continuation.

Forward-looking statements are based on assumptions that, while considered reasonable by management, are subject to significant business, economic, and competitive risks. Investors should not over-rely on these statements. Risks include the Company’s inability to repay debts, the extension of the support agreement, potential failure to complete its wind-down plan, future lender actions, maintaining relationships with third parties, regulatory changes, market risks, operational history, competition, international operations, and other risks detailed in SLANG’s management’s discussion and analysis for the year ended December 31, 2023, available on SEDAR+. SLANG has no obligation to update forward-looking information unless required by law.

Reader Advisory

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SOURCE SLANG Worldwide Inc.

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