SLANG Worldwide (TSE:SLNG) has released an update.
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SLANG Worldwide Inc., a key player in the cannabis CPG industry, reported a revenue of $7.03 million for Q1 2024, a period marked by strategic diversification and operational efficiencies. Despite facing increased competition and a general decline in their Core Markets, the company saw substantial growth in its e-commerce segment by approximately 45% and a 417% increase in Vermont wholesale year-over-year. Additionally, the company is optimistic about the potential positive impact of the U.S. Department of Justice’s recommendation to reclassify cannabis from Schedule I to Schedule III.
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