SLANG Worldwide Acquires LBA Global Corporation
A Ballard Spahr Mergers and Acquisitions team advised SLANG Worldwide Inc. (CNSX: SLNG), (OTCQB: SLGWF) on its acquisition—completed today—of LBA Global Corporation and its Lunchbox Alchemy brand portfolio and subsidiary Lunchbox Distribution.
The acquisition bolsters Toronto-based SLANG’s position in Oregon by adding a complementary portfolio of top-selling products, as well as increased cannabis extraction, manufacturing, and distribution capabilities. The establishment of an integrated operation is expected to generate increased revenues and gross profit in Oregon, a core market for SLANG. Under the terms of the transaction, SLANG issued 23,913,043 restricted voting shares to the former owners of privately held LBA in exchange for an all equity interest in LBA and its subsidiaries.
SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. LBA is the owner of the Lunchbox Alchemy portfolio of cannabis brands, an innovator in cannabis-infused edibles and concentrate production, as well as a CBD-infused product line currently available in more than 500 retail stores in 45 states across the U.S.
The Ballard Spahr team was led by Denver-based Business and Transactions Partner Michele Rowland. It included John L. Ruppert, Andrew D. Spruiell, Joshua A. Bobich, and Christian R. Barnes.
For more details, please visit SLANG’s official press release.