Slang Worldwide (SLNG.C) signed a manufacturing and distribution agreement with Aver Skin for their cannabis-based skin care products today, according to a press release.
The agreement will have Slang producing THC-infused topical skincare creams for Aver and getting them out to market via their distribution network. The company intends to launch their line of skincare products in Colorado in early 2021, with a scheduled rollout to other markets when that’s complete.
“We believe that cannabinoids have the properties to promote healthy, beautiful skin, alleviate discomfort, and catalyze healing. Our products are formulated and manufactured to meet the industry’s highest ethical and quality standards. Partnering with Slang will strengthen our ability to execute this vision and bring our innovative products to the Colorado market in 2021,” said Tobias Ripsom, CEO of Aver Skin.
Slang Worldwide is involved in the cannabis consumer-packaged goods (CPG) sector with a portfolio of brands distributed widely across the United States. The company is presently working on expanding and developing their pre-existing regional brands as much as they are launching new brands to take advantage of global market opportunities. Aver Skin is a skincare company offering cannabinoid-driven infusions.
“We have been impressed with the Aver Skin team’s innovative product offerings and unique approach to wellness. This is yet another example of Slang forming a strategic partnership that leverages our manufacturing and distributing capabilities for the mutual benefit of both entities,” said Chris Driessen, chief executive officer of Slang.
Slang Worldwide is up a penny today, temporarily stalling a downtrend that’s seen them descend from an early February high of $0.69 to where they sit now at $0.52.