Toronto, Canada--SLANG Worldwide Inc. announced in a news release that it has introduced its inaugural line of rapid-onset cannabis-infused gummies.
The gummies are part of its Alchemy Naturals product line, which it says is known for its all-natural THC gummy brand. Consumers in Vermont can now purchase these products at SLANG's Ceres Collaborative in downtown Burlington, with expansion to other Vermont dispensaries soon through wholesale.
Per the news release, the gummies, which use TiME INFUSION® (Thermodynamic Individual Molecular Encapsulation) technology from Azuca, promise to take effect within five to fifteen minutes.
The news release noted that Alchemy Naturals' quick-acting gummies aim to satisfy the Vermont population's demand for reliable, fast-acting cannabis edibles. They offer a pleasant social experience and are easily controlled due to their stackable nature. They come in two flavors - Blackberry Lime and Cranberry Orange- each accurately dosed in 5mg packets.
Partnership with Azuca for Rapid-Onset Solutions
"Azuca has invested a lot of time into research around creating a fast-acting solution for edible products in the cannabis industry," stated Brittany Hallett, VP, Marketing of SLANG, in the news report. "Our Alchemy edibles brand has been widely recognized for its flavor and all-natural ingredients."
Hallett added in the report that the opportunity to add Azuca's technology to the company's already formalized gummies makes them "even more desirable." Hallett added, "It adds the additional layer of providing a consistent cannabis experience."
The VP expressed confidence in Azuca's research, saying they have seen their success in bringing this technology to the high-demand THC edible market.
Combating the Unpredictability of Cannabis Edibles
One of the main challenges with edibles is the unpredictable onset time, which can lead consumers to consume more than necessary due to the delayed effects.
Alchemy Naturals aims to address this issue by providing reliable, dose-able products that consumers can trust.
While traditional edibles convert Delta-9-THC in the digestive tract into 11-Hydroxy-THC, Alchemy Naturals gummies have individually encapsulated Delta-9-THC cannabinoids, enhancing cannabinoid bioavailability. This technology operates at the molecular level to bypass the liver and enter the bloodstream instantly, leading to onset within 15 minutes and a Delta-9-THC experience that lasts two to four hours.
Strong Q1 2023 Financial Performance
SLANG recorded an EBITDA of $0.68 million in Q1 FY2023, marking a significant improvement from ($2.36 million) in Q1 FY2022.
The Company stated in a report that it achieved positive operational cash flow for the second consecutive quarter and is on the right track to maintain this trend in Q2 FY2023. Adjusted gross profit for Q1 2023 stood at $5.68 million (52% adjusted gross margin), reflecting a year-over-year increase of 56% from $3.64 million (43% adjusted gross margin) in Q1 2022.
SLANG's Exit from California's Market
Only a short time before the company announced its quarter results, it was reported that it had decided to cease its operations in California less than two years after its re-entry into the state.
The company’s CEO, John Moynan, explained the decision to exit in an interview with Green Market Report, emphasizing the challenging market conditions and uncertainties plaguing California and New York.
Moynan also mentioned that SLANG's strategy focuses on states with the highest chance of generating profits. While the company currently does not have plans to re-enter the California market, Moynan only partially ruled out the possibility of doing so in the future.
With SLANG's exit, the company joins the list of national brands recently withdrawn from California, indicating a broader trend in the industry. Moynan's vision now lies in growing the business and not making any “big bets” on West Coast cannabis.
About the Companies
SLANG Worldwide Inc. has a portfolio of five separate brands. Their operations extend across 13 legal cannabis markets nationwide. They specialize in acquiring and developing market-proven regional brands and launching new brands to capture global market opportunities and cater to changing consumer tastes.
Alchemy Naturals Inc. works with cannabis products designed with wellness in mind. The company's formulas feature emerging cannabinoids and adaptogens such as CBN, CBG, maca root, reishi mushroom, and more. Launched in Oregon in 2016, Alchemy Naturals—formerly known as Lunchbox Alchemy—plans to grow further through SLANG's 13-state THC distribution network.
Azuca provides edibles and beverage manufacturers with fast-acting delivery systems and formulations. Azuca's offerings are powered by its patent-pending TiME INFUSION® process, which encapsulates individual cannabinoid molecules, making them "water-friendly" for a predictable and controllable experience every time.