Canadian cannabis consumer packaged goods firm SLANG Worldwide (OTCMKTS:SLGWF) has formed a partnership with Southern Development Holdings to sell its cannabis products in Puerto Rico.
SLANG in Puerto Rico
Toronto-based SLANG granted an exclusive license to SDH to produce the SLANG products in in Puerto Rico.
Under the partnership agreement, SDH will manufacture and sell SLANG’s products in medical cannabis dispensaries throughout Puerto Rico. SLANG will receive royalty payments for each SLANG branded product sold in Puerto Rico.
The partnership is expected to begin sales in the second quarter of 2019.
Puerto Rico Is A Growing Medical Cannabis Market
Puerto Rico has one of the highest number of medical cannabis patients per capita of the U.S. territories. As of February 2019, there were more than 59,000 patients and 71 dispensaries, according to the Puerto Rico Department of Health.
Puerto Rico offers reciprocal dispensary access to out-of-town visitors who hold active medical marijuana licenses from qualified state programs, as well as online registration for those interested in obtaining a medical cannabis permit.
“We are excited to bring our high-quality brands to consumers in Puerto Rico and the Latin American market,” SLANG CEO Peter Miller said in a press statement. “Building global brands requires teamwork. Leveraging partnerships with the highest calibre operators enhances SLANG’s brand share and revenue with impressive scalability.”