- SLANG Worldwide (CNSX:SLNG) has provided an operations update amid the COVID-19 pandemic
- The company has implemented preventative measures including social distancing and work-from-home options for staff
- Despite the volatile market, SLANG is still in a strong financial position
- The business is one of many cannabis companies that have noted an increase in product purchases since the pandemic started
- SLANG’s share price is up 6.06 per cent, and is currently trading at $0.18 per share
Cannabis company SLANG Worldwide (CNSX:SLNG) has provided an operations update, amid the ongoing COVID-19 crisis.
To protect employees and customers, the company has implemented preventative measures, including social distancing and work-from-home options.
At its manufacturing facilities, SLANG has instigated enhanced protocols, in order to keep its supply chain going. These include using a third-party sanitation partner, and EPA-cleared disinfection techniques, such as electrostatic sprayers, foggers, and ATP Luminometers.
SLANG CEO, Peter Miller, stated that the health and safety of consumers and employees is the company’s top priority.
“We are closely monitoring the developments surrounding COVID-19, and its impact on our workforce, our industry, and on capital markets. We will continue to adapt, acting swiftly and efficiently, as circumstances evolve.
SLANG remains in close contact with its employees, vendors, and buyers, as we navigate these challenges together,” he said.
Peter went on to say that in spite of the challenging market environment, the business is stronger now than it was a year ago.
Despite the pandemic’s damaging impact on industries and economies worldwide, SLANG has reported strong demand. The company is still operating, and is rolling out deliveries across its network.
SLANG, and other cannabis companies, have also noted that consumers have recently increased cannabis product purchases, in reaction to COVID-19.
That said, the company’s supply chain includes a range of domestic and international suppliers. Some of these may experience temporary production delays, as their attempt to reduce the risk of employee infection.
SLANG remains confident that its strong balance sheet will position the company to successfully navigate these uncertain times.
Peter said that it is too early to assess COVID-19’s entire potential impact on the cannabis industry and broader economy. However, he stated that the SLANG team would remain focused on executing the company’s business plan, which is adaptable to dynamic market shifts.
SLANG plans to announce its end-year results for the 2019 fiscal year in the coming weeks.
SLANG’s share price is up 6.06 per cent, and is currently trading at $0.18 per share, as of 11:02am EST.