- SLANG Worldwide (SLNG) has closed its acquisition of Allied Concessions Group and entered into a definitive agreement to acquire NS Holdings
- The Allied acquisition is expected to become effective within the next week
- The company will acquire NS Holdings for just over 10 million of its shares with closing expected to occur in Q3 2020
- Allied Concessions Group produces O.pen, Bakked, Firefly and Pressies-branded cannabis products in Colorado
- NS Holdings is the parent company of GNT Oregon, the operating asset that produces O.pen, Bakked and District Edibles-branded cannabis products
- SLANG Worldwide is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the U.S.
- SLANG Worldwide (SLNG) is down by 3.39 per cent and is currently trading at $0.285 per share
SLANG Worldwide (SLNG) has closed its acquisition of Allied Concessions Group and entered into a definitive agreement to acquire NS Holdings.
The Allied acquisition is expected to become effective within the next week upon confirmation by the Colorado Secretary of State.
Additionally, SLANG has entered into a definitive agreement and plan of merger with respect to a proposed acquisition of NS Holdings.
Pursuant to the terms of the agreement, SLANG will issue 2,152,002 SLANG common shares and 3,187,503 SLANG restricted voting shares to NS shareholders within the next ten days.
SLANG will also pay 2,125,002 common shares and 2,629,690 restricted shares upon closing of the acquisition in Q3 2020.
The acquisitions are part of the company’s strategy to consolidate its supply chain in Colorado and Oregon, resulting in an improved ability to scale production volumes in response to fluctuating demand.
Colorado and Oregon’s estimated combined cannabis market size is over US$3.3 billion, according to BDSA.
Chris Driessen, CEO of SLANG, commented,
“We are thrilled to complete our acquisition of Allied Concessions Group. The integration of ACG into our platform will allow us to control our own destiny from seed to wholesale of the entire portfolio of SLANG brands in our largest market. NSH represents a further opportunity to consolidate our supply chain throughout our core market of Oregon.”
Allied Concessions Group produces O.pen, Bakked, Firefly and Pressies-branded cannabis products in Colorado.
NS Holdings is the parent company of GNT Oregon, the operating asset that produces O.pen, Bakked and District Edibles-branded cannabis products in Oregon.
SLANG Worldwide is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States.
SLANG Worldwide (SLNG) is down by 3.39 per cent and is currently trading at $0.285 per share as of 2:27 pm ET.