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SLANG Worldwide Enters Into Waiver and Support Agreement With Secured Lenders in Anticipation of Upcoming Maturity Date

SLANG Worldwide Enters Into Waiver and Support Agreement With Secured Lenders in Anticipation of Upcoming Maturity Date

SLANG全球與擔保債權人簽訂豁免和壓力位協議,以應對即將到期的成熟日期
newsfile ·  10/09 21:11

Toronto, Ontario--(Newsfile Corp. - October 9, 2024) - SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a global cannabis consumer packaged goods company with a diversified portfolio of popular brands, today announced that it has entered into a waiver and support agreement (the "Support Agreement") with, among others, the secured lenders (the "Lenders") under the Company's credit and guaranty agreement dated November 15, 2021, as amended (the "Credit Agreement") given the upcoming maturity date under the Credit Agreement of November 15, 2024 (the "Maturity Date").

多倫多,安大略省-(新聞資訊公司-2024年10月9日) - 全球大麻消費包裝品牌企業SLANG Worldwide Inc.(CSE: SLNG) (OTCQB: SLGWF) ("SLANG"或"公司")宣佈,該公司與多家擁有廣泛知名品牌的全球大麻消費包裝品公司日前達成了豁免和壓力位協議("壓力位協議"),其中包括2021年11月15日簽署的信貸和擔保協議,截止日期爲2024年11月15日("到期日")的擔保債權人("債權人")

Pursuant to the Support Agreement, the Lenders have agreed to a standstill and to not take any steps under the Credit Agreement, related guarantees and security documents until the earlier of: (i) the Maturity Date, and (ii) the occurrence of certain specified termination events, in exchange for a payment of US$1.75 million and enhanced reporting covenants from the Company during the term of the standstill period. The Company does not anticipate being able to repay amounts owing under the Credit Agreement at the Maturity Date.

根據壓力位協議,債權人同意暫停一切行動及不採取任何措施有關信貸協議、擔保和安全文件,直至以下兩者中較早的時間:(i)到期日,和(ii)特定終止事件的發生,換取公司在暫停期間支付175萬美元和強化的報告承諾。公司預計無法在到期日償還信貸協議下的欠款。

In light of this and in advance of the Maturity Date, the Company's board of directors (the "Board") and management have been working with their advisors to carefully consider the current financial condition of, and all available alternatives available to, the Company and its subsidiaries. The Board has approved entering into the Support Agreement, which also provides for the potential sale, liquidation and/or wind down of the Company's existing operations and assets (the "Process"). The Company has engaged B. Riley Farber Inc. to act as an advisor to the Company and to help facilitate and assess these steps. The Company will provide additional details as the Process progresses in accordance with a plan to be agreed upon with the Lenders.

鑑於此,公司的董事會("董事會")和管理層一直與顧問緊密合作,認真考慮公司及其子公司的當前財務狀況和所有可供選擇的替代方案。董事會已批准簽訂壓力位協議,該協議還規定了公司現有業務和資產的潛在出售、清算和/或停業("流程")。公司已委託貝里法伯公司(B. Riley Farber Inc.)擔任公司的顧問,協助推動並評估這些措施。公司將根據與債權人達成協議的計劃隨着流程的進行提供更多細節。

About SLANG Worldwide Inc.

關於SLANG Worldwide Inc.

SLANG Worldwide Inc. is an industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 13 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize market opportunities and match evolving consumer tastes. Its product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, Ceres, and Firefly have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com.

SLANG Worldwide Inc.是品牌化大麻消費包裝商品行業的領先者,擁有五個獨特品牌和產品組合,分佈於美國各地的13個合法大麻市場。SLANG專門收購和開發市場驗證的區域品牌,同時推出創新的新品牌以抓住市場機會並符合消費者口味的變化。其產品系列來自獨特定位和可擴展品牌,如 O.pen,Alchemy Naturals,Ceres和Firefly在SLANG運營的各個州,該品牌一直表現出色,在排名中始終處於前列。欲了解更多信息,請訪問slangww.com。

To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject.

若要加入SLANG的電子郵件分發列表,請發送郵件至SLNG@kcsa.com,主題中請註明"SLNG"。

Forward-Looking Statements

前瞻性聲明

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 in this news release include, but are not limited to, statements in respect of the provisions and milestones under the Support Agreement, the upcoming Maturity Date and the ability of the Company to repay amounts owing under the Credit Agreement, and the potential sale, liquidation and/or wind down of the Company's existing operations and assets.

本新聞稿包含構成"前瞻性聲明"的聲明。此類前瞻性聲明涉及已知和未知的風險、不確定性以及可能導致實際結果、績效或成就,或該行業發展與此類前瞻性聲明中所預期的結果、績效或成就有實質性差異的其他因素。前瞻性聲明是非歷史事實的聲明,通常但並非總是通過"期望"、"計劃"、"預期"、"相信"、"打算"、"估計"、"展望"、"潛在"等表達方式進行識別,或者事件或條件"將"、"會"、"可能"、"能夠"或"應該"發生。本新聞稿中的前瞻性聲明包括但不限於對《支持協議》下的條款和里程碑,即將到期的到期日,公司償還信貸協議下所欠金額的能力,以及公司現有業務和資產的潛在出售、清算和/或清理能力的描述。

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 risks related to the Company's ability to pay amounts owing under the Credit Agreement, the Company being unable to complete a Process acceptable to the Lenders, the future actions and co-operation of the Lenders, the ability of the Company to maintain relationships with suppliers, customers, employees, shareholders and other third parties, regulatory risks, changes in laws, regulations 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 management's discussion and analysis for the year ended December 31, 2023 and other disclosure documents available on SEDAR+ at . 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.

前瞻性聲明必須基於SLANG管理層在此時認爲合理的估計和假設,但固有地受到重大的商業、經濟和競爭性風險、不確定性以及可能導致實際結果與此類聲明中所述結果有實質差異的不確定性和不可抗力的影響。投資者被警告不要過度依賴前瞻性聲明。適用的風險和不確定性包括但不限於與公司支付信貸協議下所欠金額的能力相關的風險,公司無法按照出借人接受的程序完成交易,將來出借人的行動與合作,公司與供應商、客戶、僱員、股東及其他第三方維持關係的能力,監管風險,法律、法規和指南的變更,市場風險,集中風險,運營歷史,競爭,與國際和外國業務相關的風險以及在SLANG 2023年12月31日止年度管理層討論和分析以及在SEDAR+上提供的其他披露文件中所識別的其他風險,在適用法律明確要求的情況下,SLANG沒有任何義務,並明確否認更新或修改任何前瞻性信息的意圖或義務。

Reader Advisory

讀者聲明

Neither the Canadian Securities Exchange nor the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.

加拿大證券交易所和加拿大投資監管組織不對本發佈的充分性或準確性承擔責任。

Company Contact
Mikel Rutherford, CFO
833-752-6499

公司聯繫 Marcia Novero Innodata Inc. Mnovero@innodata.com (201) 371-8015
Mikel Rutherford, 財務總監
833-752-6499

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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