Toronto, Ontario–(Newsfile Corp. – July 10, 2020) – SLANG Worldwide Inc. (CNSX: SLNG) (“SLANG” or the “Company“), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced the election of four new directors who will add considerable expertise in consumer products, marketing, corporate strategy and financial management to its Board.
Joining SLANG’s Board are the following individuals:
Chris Donnelly is the founder of four start-up ventures across consumer products, digital marketing, and outdoor advertising. In 2002, Mr. Donnelly helped create the subsidiaries group within Nike. In 2006, Mr. Donnelly joined Oakley as SVP of Global Strategy and Product, where he rebuilt the organizational structure for all 3,000 employees to align the company around its top priorities. Over 9 years, through 450 new retail stores and 4 website launches, he shifted the direct to consumer business from 11% of revenues to 48%. Since 2016, Mr. Donnelly has spent his time advising and investing in consumer businesses.
Kelly Ehler is a Chartered Accountant and former auditor with PWC and banker with Bank of Montreal. He has sat on various public company corporate boards and board committees including additional roles as Audit Committee chair. He has led several companies, from start-ups to billion-dollar public companies, as CFO in a variety of industries and countries. His experience covers debt financing, due diligence, acquisitions and dispositions, audits, consolidations, multi jurisdiction entities and multijurisdictional public companies. Mr. Ehler also serves as CFO of SLANG.
Matt Fraser is President and COO at CANarchy Craft Brewery Collective (“CANarchy”) where he leads all business operations across the portfolio of craft breweries. Under his leadership, CANarchy has grown to the 8th largest craft brewery in the United States and operates 8 manufacturing locations and 16 brewpubs and taprooms. He initially joined CANarchy as CFO, with responsibility for financial reporting and analysis, forecasting and overall budget management. Mr. Fraser previously spent eight years at Lazard Frères in its Middle Market advisory group.
Robert (Bob) Verdun specializes in helping businesses with their go to market/growth strategies and effective ways to maximize shareholder value. He has recently been involved in dozens of M&A transactions, advising company owners on strategies for growth, acquisitions, mergers and capital raises. As President and Chief Executive Officer of Computerized Facility Integration, Mr. Verdun established partnerships with some of the leading companies in its industry and became IBM’s largest global partner for multiple product lines.
“We are very pleased to welcome four new directors with tremendous experience leading and counseling growth companies across a range of sectors. Their insights will be valuable as SLANG continues to execute on its vision of becoming the leading CPG company in the cannabis space,” said SLANG Chairman and CEO Peter Miller. “On behalf of the Company, I would also like to thank Chris McElvany, William Stocks and Olaf van Tulder for their contributions to our Board during the crucial early stages of our growth.”
All seven of the nominees listed in the Management Information Circular dated June 9, 2020 were elected as directors of the Company at its annual and special meeting of shareholders held in a virtual format on July 8, 2020. Re-elected directors include Chris Driessen, Peter Miller and Keith Stein. Messrs. Donnelly, Fraser, Stein and Verdun are all considered independent directors of the Company.
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About SLANG Worldwide Inc.
SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. The Company specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. SLANG is listed on the Canadian Securities Exchange under the ticker symbol SLNG. For more information, please visit www.slangww.com.
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings “Risk Factors” in SLANG’s final long form prospectus dated January 17, 2019 and “Risks and Uncertainties” in the management discussion and analysis for the year ended December 31, 2019, as filed on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59516
Benchmark Provides Update on Financial Condition of Potanicals
Vancouver, British Columbia–(Newsfile Corp. – October 23, 2020) – Benchmark Botanics, Inc. (CSE: BBT) (“Benchmark” or the “Company”) Benchmark announces that the ongoing working capital deficiency of Potanicals Green Growers Inc. (“Potanicals“), the Company’s wholly owned subsidiary, may result in Potanicals being unable to meet all of its accounts payable at October 31, 2020, including its October 31, 2020 payroll obligations for all 39 of Potanicals’ employees, which will cause material uncertainty about Potanicals’ ability to continue as a going concern. During the period from January 1, 2019 to December 31, 2019, Potanicals had a net loss of approximately $1,736,000. As at October 22, 2020, Potanicals had cash of $102,493, and a working capital deficiency of $134,605.
The Company is actively exploring various options to address the financial difficulty issues of Potanicals, including increasing its sales from inventory, cutting its costs, restructuring its operations, and undertaking an equity or debt financing. To meet such funding requirements, if the Company closes an additional equity financing, it would be dilutive to existing shareholders. Debt financing, if available, may also involve restrictions on financing and operating activities. There is no assurance that such additional financing will be available on terms acceptable to the Company or at all. If the Company is unable to obtain additional financing as needed, it may be required to reduce the scope of the operations of Potanicals or any planned expansion. No assurances can be given that the Company will be able to raise the additional funding that may be required for such activities. The Company will provide further updates on this matter as it develops.
Benchmark is a diversified multi-licensed cannabis producer focused on a three-way vertical business model targeting the medical and recreational markets in Canada. The Company’s business plan also includes a strategy to become a Canadian licensed producer to pioneer selling medical cannabis and hemp throughout Asia, in countries where it is legal to do so.
Benchmark is focused on producing the highest-quality, indoor-grown cannabis for patients and adult recreational consumers, as well as developing international business partnerships to extend the Company’s global footprint.
Benchmark’s 100% owned subsidiary, Potanicals Green Growers Inc. (“Potanicals) is a Health Canada licensed producer under the Cannabis Act and its regulations. The Company is producing at its indoor Peachland, BC Cannabis Complex and is constructing a Phase II expansion of an additional 10,000 square foot extraction facility there. Along with cultivation and production, the company’s Peachland BC facility also provides propagation, cultivation, cloning, storage, research and development, genetic improvements.
As part of its expansion strategy, the company and a joint venture partner completed a second facility, a 4-acre Greenhouse Operation in Pitt Meadows, BC. The Company, through Potanicals, has received its second cultivation license, effective November 29, 2019, from Health Canada for the Pitt Meadow greenhouse.
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ON BEHALF OF THE BOARD OF
BENCHMARK BOTANICS INC.
Chief Executive Officer
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.
This news release contains forward-looking statements pertaining to various risks and uncertainties regarding future events. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Actual results could differ materially from those currently anticipated due to a number of factors and risks including the risk factors discussed in this news release and in the Company’s disclosure documents, which can be found under the Company’s profile on www.sedar.com and on the CSE website. These statements speak only as of the date of this news release. Except as required by law, the Company does not intend to update these forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66763
PURA Addresses Next Steps to Issue Dividend of PAOG Stock
Dallas, Texas–(Newsfile Corp. – October 23, 2020) – Puration, Inc. (OTC Pink: PURA) today announced that PURA management and PAO Group, Inc. (OTC Pink: PAOG) management have scheduled combined efforts next week to complete the joint documentation and submission requirements necessary to execute the planned dividend of PAOG stock to PURA shareholders. A joint PURA and PAOG announcement is scheduled for next Friday, October 30, 2020. The dividend update announcement comes today in conjunction with the overall corporate update scheduled for release today and included in its entirety below:
Last month, PURA introduced Farmersville Brands and announced a major juncture in the company’s growth and development as the company pivots from its hemp derived CBD beverage industry foundation to launch a Texas flavored, holistic lifestyle branded approach into a broader, but still niche, $20 billion sector within an overall market worth at least $2 trillion.
January of this year, PURA launched an acquisition campaign as a forerunner initiative to the Farmersville Brands transition.
Since launching the acquisition campaign in January, the company has acquired a CBD confections business, a CBD pet products business and CBD sun care business. Combined with its existing beverage industry product line, PURA’s combined horizontal market opportunity ranges across over $2 trillion in market value:
Central to the Farmersville Brands transition is the construction of a lifestyle brand that embodies the values, interests, attitudes, and opinions of the population where CBD and hemp products are an ideal fit.
Farmersville Brands holistic lifestyle approach will include a certain Texas personality component built on a targeted 72-acre property in Farmersville, Texas, just north of Dallas, expected to soon be acquired by PURA.
The location is intended to be a hemp mecca were visitors can participate in and learn about the reintroduction of hemp into the American market. Visitors can engage on a recreational weekend sojourn, or engage in a professional capacity to explore the best agricultural and processing practices, and new innovative methods for utilizing hemp to construct homes or to power cars.
Earlier this week, on Wednesday, PURA announced executing a contract to purchase the 72-acre farmland parcel located in Farmersville, TX, for a consideration of $1.3 million. This is a key step in the Farmersville Brand strategy transition.
PURA also has a planned $100 million investment strategy developing to fund the Farmersville transition. The company is keeping details under wraps at the moment but anticipates making the plan pubic before year end.
PAOG Dividend Next Steps
PAO Group, inc. (OTC Pink: PAOG) recently acquired a hemp cultivation business from PURA. PAOG is building a partnership with PURA in conjunction with PAOG’s new hemp cultivation business. PAOG has announced working with PURA’s new hemp processing facility in Farmersville, Texas where the two companies will partner on the construction of a greenhouse for cultivating pharmaceutical grade hemp and a lab for CBD extraction.
PAOG’s partnership includes making PURA shareholders, shareholders of PAOG. PAOG’s purchase of PURA included a PAOG stock issued to PURA shareholders in a dividend distribution. The timing of the execution of the dividend has been impacted by PAOG’s overall large volume of work surrounding the integration of its recently acquired RespRx CBD treatment for Chronic Obstructive Pulmonary Disease (COPD) and its newly acquired hemp cultivation operations. PAOG and PURA management have committed time together next week to get the dividend process over the speed bump. A joint progress announcement is planned for a week from today, next Friday, October 30, 2020.
For more information on Puration, visit http://www.purationinc.com
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66751
PAOG Signs Clinical Research Organization (CRO) to Advance Respiratory Cannabis Treatment Through Regulatory Approval
Sandusky, Ohio–(Newsfile Corp. – October 23, 2020) – PAO Group, Inc. (OTC Pink: PAOG) today announced executing a master services agreement with a clinical research organization in the U.S. to prepare PAOG for initiating an investigational New Drug application (IND) with the Food and Drug Administration (FDA). PAOG signed the agreement yesterday, prior to the comprehensive corporate update scheduled for publication today and included in its entirety below.
Less than 90 days ago, PAOG acquired RespRx from Kali-Extracts, Inc. (OTC Pink: KALY) and began to transform the company into a cannabis biopharmaceutical development operation. The company has come a long way very quickly and management believes the rapid progress has been possible based on the merits of the research backing RespRx.
RespRx is a cannabis treatment under development for Chronic Obstructive Pulmonary Disease (COPD) derived from a patented cannabis extraction method – U.S. Patent No. 9,199,960 entitled, “METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT”.
In an initial scientific evaluation as a treatment for COPD, RespRx has demonstrated affecting significant increases in respiration rate, tidal volume and inspiratory air flow rate. Overall data from the evaluation demonstrated that RespRx can significantly improve inspiratory lung functions in instances of moderate pulmonary fibrosis.
The CRO agreement signed yesterday is a year long agreement and a major step forward to advancing RespRx through the regulatory approval process. PAOG plans to make a joint announcement next week with the CRO company.
As previously announced, and in addition to the CRO agreement announced today, PAOG continues to develop pharmaceutical research and development relationships in Puerto Rico’s burgeoning, recently reinvigorated pharmaceutical industry. An announcement of an anticipated key contract in Puerto Rico is expected soon.
Part of PAOG’s pharmaceutical development strategy includes the development of a proprietary hemp cultivar. In addition to acquiring RespRx from KALY, PAOG recently acquired a hemp cultivation business from Puration, Inc. (OTC Pink: PURA). PAOG is building a partnership with PURA in conjunction with PAOG’s new hemp cultivation business. PAOG has announced working with PURA’s new hemp processing facility in Farmersville, Texas where the two companies will partner on the construction of a greenhouse for cultivating pharmaceutical grade hemp and a lab for CBD extraction.
PAOG’s partnership includes making PURA shareholders, shareholders of PAOG. PAOG’s purchase of PURA included a PAOG stock issued to PURA shareholders in a dividend distribution. The timing of the execution of the dividend has been impacted by the overall large volume of work surrounding the integration of the RespRx and hemp cultivation operations and the prioritization of establishing a CRO contract. PAOG and PURA management have committed time together next week to get the dividend process over the speed bump. A joint progress announcement is planned for a week from today, next Friday, October 30, 2020.
Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66743
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