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Formerly Westleaf Inc.

Decibel Announces 27 New Upcoming Ontario Product Launches


CALGARY, AB, Sept. 22, 2021 /CNW/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce its recent success in the Ontario product call as well as upcoming Ontario product launches with 27 new product introductions over the coming months.

“With our $15 million oversubscribed equity financing now closed, we are now positioned for Decibel’s next stage of growth through high return on capital investments, which expand our capacity and gross margins, as well as accelerating our already robust 2022 product pipeline.” said Paul Wilson, Chief Executive Officer of Decibel. “We remain focused on expanding our market share as we fully realize the impact of our 2021 growth initiatives in the fourth quarter.”

“We are committed to continuously raising the bar when it comes to innovation and bringing choice to consumers, through high-standard craft quality, unique product formats, and rare cultivars” said Warren Matzelle, Senior Vice President, Product Innovation of Decibel. “We endeavor to continue to be category innovators and craft our strategy around cannabis culture and consumers.”

New Products – Flower (14 Products)

Qwest Family of Brands

With volumes from its Thunderchild cultivation facility now approaching run-rate production (which is anticipated by mid-Q4), for the first time in the Company’s history, Decibel will have its full flower offerings available and in steady supply in the Ontario market.

Decibel has secured the following product listings in Ontario:

  • 6 new jarred SKUs including four Qwest cultivars and two Qwest Reserve cultivars
  • 6 new pre-roll SKUs including four Qwest cultivars and two Qwest Reserve cultivars
  • 1 new blended milled flower SKU under Blendcraft by Qwest

General Admission

Decibel continues to expand General Admission’s category offerings based on its strong brand equity created initially in the vape category. Recently, in Western Canada, General Admission’s first large format pre-roll product experienced early success and will now be brought to the Ontario market.

Decibel has secured the following product listings in Ontario:

  • 1 new large format pre-roll SKU under General Admission

New Products – Vapes & Concentrates (13 Products)

Pressed by Qwest

The Company continues to expand Qwest, with its reputation for premium flower, into the premium concentrate category, with another 6 Pressed by Qwest products listed and ready for launch.

Decibel has secured the following product listings in Ontario:

  • 4 new product SKUs including new Gems & Juice and Live Sugar cultivars
  • 2 new product SKUs of Pressed by Qwest’s new solventless Cold Cure Liven Rosin

General Admission

General Admission continues to broaden its product offering in the vape category as one of the top 3 vape brands in Canada, through consistent, consumer insight led innovation at approachable pricing. 

Decibel has secured the following product listings in Ontario:

  • 7 new product SKUs including new flavours of Distillate and Live Resin vapes, and a new and innovative product format under the General Admission brand

Link to Decibel’s Investor Presentation

About Decibel

Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses along with its wholly owned retail business, Prairie Records. The Qwest Estate in Creston, BC is a licensed and operating 26,000 square foot cultivation space which produces the widely championed, rare cultivar-focused brands Qwest and Qwest Reserve, which are sold in six provinces across Canada. Thunderchild Cultivation, is a licensed and operating 80,000 square foot indoor cultivation facility in Battleford, SK. The Plant, Decibel’s extraction facility, in Calgary, AB has 15,000 square feet of Health Canada licensed extraction and product development space. This production house will fuel the growth of our brands Qwest, Qwest Reserve, Blendcraft, and General Admission, into new and innovative product formats like concentrates, vapes, edibles and beyond.

www.decibelcc.com 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements

Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the anticipated upcoming Ontario product launches, including the number and timing thereof, the anticipated returns on the Company’s capital investments, the Company’s business plans and strategies, the date by which Thunderchild is anticipated to reach run-rate production and the Company’s ability to grow Qwest, Qwest Reserve and Blendcraft brands into new and innovative product formats, variations and its other business plans and expectations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: risks relating to delays, regulatory changes and impacts, capital requirements, construction impacts, displacement requirements and unforeseen requirements resulting from the COVID-19 pandemic, the ability to obtain and maintain licences to retail cannabis products; review of the Company’s production facilities by Health Canada and maintenance of licences (including any amendments thereto) from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under the Company’s credit facilities; timing and completion of construction and expansion of the Company’s production facilities and retail locations; and the delay or failure to receive board, regulatory or other approvals, including any approvals of the TSX Venture Exchange, as applicable. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.

This press release contains future-oriented financial information and financial outlook information (collectively, “FOFI”) about the Company’s prospective results of operations including, without limitation, its expected return on capital investments and gross margins, which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth above. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on FOFI. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these FOFI, or if any of them do so, what benefits the Company will derive therefrom. The Company has included the FOFI in order to provide readers with a more complete perspective on the Company’s future operations and such information may not be appropriate for other purposes.

These forward-looking statements and FOFI are made as of the date of this press release and, except as required by law, the Company assumes no obligation to update the forward-looking statements, FOFI  or beliefs, opinions, projections, or other factors, should they change.

For further information: Stuart Boucher, stuart.boucher@decibelcc.com, 780-619-0310

Decibel Closes Previously Announced Offering of Units for Total Gross Proceeds of Approximately $15 Million, including Full Exercise of Over-Allotment Option


CALGARY, AB, Sept. 16, 2021 /CNW/ – Decibel Cannabis Company Inc. (“Decibel” or the “Company“) (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce the closing of its previously announced bought deal prospectus offering (the “Offering“) of units of the Company (“Units“).

Pursuant to the Offering, the Company issued 51,750,000 Units at a price of $0.29 per Unit (the “Issue Price“) for aggregate gross proceeds of $15,007,500, which includes the full exercise of the over-allotment option granted to the Underwriters (as defined below). The Offering was conducted by Eight Capital, Haywood Securities Inc. and Raymond James Ltd, as co-lead underwriters and joint bookrunners (the “Underwriters“). Each Unit is comprised of one common share in the capital of the Company (a “Share“) and one-half of one common share purchase warrant (each whole warrant, a “Warrant“). Each Warrant entitles the holder thereof to purchase one Share at an exercise price of $0.40 for a period of 36 months following the closing date of the Offering. It is anticipated that the Warrants will be listed and posted for trading on the TSX Venture Exchange (“TSXV“) under the symbol DB.WT.A at the open of markets on September 17, 2021.

As consideration for their services, the Underwriters received a cash commission equal to $900,450 and, as additional consideration, the Company issued a total of 3,105,000 broker warrants to the Underwriters. Each broker warrant is exercisable into one Share at the Issue Price for a period of 24 months following the closing of the Offering.

For more details on the Offering please see the final short form prospectus in respect of the Offering, which is available on the Company’s profile at www.sedar.com.

About Decibel

Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses along with its wholly owned retail business, Prairie Records. The Qwest Estate in Creston, BC is a licensed and operating 26,000 square foot cultivation, processing and distribution space which produces the widely championed, rare cultivar-focused brands Qwest and Qwest Reserve, which are sold in seven provinces across Canada. The Thunderchild Cultivation Facility, is a licensed and operating 80,000 square foot indoor cultivation facility in Battleford, SK. The Plant, Decibel’s extraction, processing and manufacturing facility, in Calgary, AB has 15,000 square feet of Health Canada licensed extraction and product development space. This production house will fuel the growth of our brands Qwest, Qwest Reserve, Blendcraft, and General Admission, into new and innovative product formats like concentrates, vapes, edibles and beyond.

Reader Advisories

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the listing of the Warrants and the expectation that Decibel’s production house will fuel the growth of its brands Qwest, Qwest Reserve, Blendcraft, and General Admission, into new and innovative product formats like concentrates, vapes, edibles and beyond. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: risks relating to delays, regulatory changes and impacts, capital requirements, construction impacts, displacement requirements and unforeseen requirements resulting from the COVID-19 pandemic, the ability to obtain and maintain licences to retail cannabis products; review of the Company’s production facilities by Health Canada and maintenance of licences (including any amendments thereto) from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under the Company’s credit facilities; timing and completion of construction and expansion of the Company’s production facilities and retail locations; and the delay or failure to receive board, regulatory or other approvals, including any approvals of the TSXV, as applicable. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.

These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Decibel Cannabis Company Inc.

SOURCE Decibel Cannabis Company Inc.

For further information: Stuart Boucher, stuart.boucher@decibelcc.com, 780-619-0310, www.decibelcc.com

Decibel Cannabis Company Inc. Announces Increase in Bought Deal Unit Offering to $13 Million


CALGARY, Alberta, Aug. 27, 2021 (GLOBE NEWSWIRE) — Decibel Cannabis Company Inc. (“Decibel” or the “Company”) (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce that, as a result of excess demand, it has agreed with Eight Capital, Haywood Securities Inc. and Raymond James to increase the size of its previously announced bought-deal financing (the “Offering”). Decibel will now issue 45,000,000 units of the Company (the “Units”) at a price per Unit of $0.29 (the “Issue Price”) for gross proceeds of $13,050,000.

Each Unit shall be comprised of one common share in the capital of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Share at an exercise price of $0.40 for a period of 36 months following the closing date of the Offering.

The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, and/or the components thereof, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this over-allotment option is exercised in full, $1,957,500 of additional gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be $15,007,500.

In all other respects, the terms of the Offering and use of proceeds therefrom will remain as previously disclosed in the August 26, 2021 press release.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About Decibel

Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses along with its wholly owned retail business, Prairie Records. The Qwest Estate in Creston, BC is a licensed and operating 26,000 square foot cultivation, processing and distribution space which produces the widely championed, rare cultivar-focused brands Qwest and Qwest Reserve, which are sold in six provinces across Canada. The Thunderchild Cultivation Facility, is a licensed and operating 80,000 square foot indoor cultivation facility in Battleford, SK. The Plant, Decibel’s extraction, processing and manufacturing facility, in Calgary, AB has 15,000 square feet of Health Canada licensed extraction and product development space. This production house will fuel the growth of our brands Qwest, Qwest Reserve, Blendcraft, and General Admission, into new and innovative product formats like concentrates, vapes, edibles and beyond.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the completion of the Offering, the use of proceeds from the Offering and the expectation that Decibel’s production house will fuel the growth of its brands Qwest, Qwest Reserve, Blendcraft, and General Admission, into new and innovative product formats like concentrates, vapes, edibles and beyond. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: risks relating to delays, regulatory changes and impacts, capital requirements, construction impacts, displacement requirements and unforeseen requirements resulting from the COVID-19 pandemic, the ability to obtain and maintain licences to retail cannabis products; review of the Company’s production facilities by Health Canada and maintenance of licences (including any amendments thereto) from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under the Company’s credit facilities; timing and completion of construction and expansion of the Company’s production facilities and retail locations; and the delay or failure to receive board, regulatory or other approvals, including any approvals of the TSX Venture Exchange, as applicable. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.

These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Decibel Cannabis Company Inc.

For further information contact:
Stuart Boucher, 
stuart.boucher@decibelcc.com,
780-619-0310

Decibel Cannabis Company Inc. Announces $10 Million Bought Deal Unit Offering


CALGARY, Alberta, Aug. 26, 2021 (GLOBE NEWSWIRE) — Decibel Cannabis Company Inc. (“Decibel” or the “Company”) (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce that it has entered into an agreement pursuant to which Eight Capital, Haywood Securities Inc. and Raymond James Ltd., as co-lead underwriters and joint bookrunners (collectively, the “Underwriters”), will purchase 34,500,000 units of the Company (the “Units”), on a “bought deal” basis pursuant to the filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $0.29 (the “Issue Price”) for gross proceeds of $10,005,000 (the “Offering”). 

Each Unit shall be comprised of one common share in the capital of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Share at an exercise price of $0.40 for a period of 36 months following the closing date of the Offering.

The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, and/or the components thereof, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this over-allotment option is exercised in full, approximately $1,500,750 of additional gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be approximately $11,500,000.

The Company intends to use the net proceeds of the Offering for growth initiatives, working capital and general corporate purposes.

The closing date of the Offering is scheduled to be on or about September 16, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About Decibel

Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses along with its wholly owned retail business, Prairie Records. The Qwest Estate in Creston, BC is a licensed and operating 26,000 square foot cultivation, processing and distribution space which produces the widely championed, rare cultivar-focused brands Qwest and Qwest Reserve, which are sold in six provinces across Canada. The Thunderchild Cultivation Facility, is a licensed and operating 80,000 square foot indoor cultivation facility in Battleford, SK. The Plant, Decibel’s extraction, processing and manufacturing facility, in Calgary, AB has 15,000 square feet of Health Canada licensed extraction and product development space. This production house will fuel the growth of our brands Qwest, Qwest Reserve, Blendcraft, and General Admission, into new and innovative product formats like concentrates, vapes, edibles and beyond.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the completion of the Offering, the use of proceeds from the Offering and the expectation that Decibel’s production house will fuel the growth of its brands Qwest, Qwest Reserve, Blendcraft, and General Admission, into new and innovative product formats like concentrates, vapes, edibles and beyond. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: risks relating to delays, regulatory changes and impacts, capital requirements, construction impacts, displacement requirements and unforeseen requirements resulting from the COVID-19 pandemic, the ability to obtain and maintain licences to retail cannabis products; review of the Company’s production facilities by Health Canada and maintenance of licences (including any amendments thereto) from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under the Company’s credit facilities; timing and completion of construction and expansion of the Company’s production facilities and retail locations; and the delay or failure to receive board, regulatory or other approvals, including any approvals of the TSX Venture Exchange, as applicable. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.

These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Decibel Cannabis Company Inc.

For further information contact:
Stuart Boucher, 
stuart.boucher@decibelcc.com,
780-619-0310,

Decibel Announces Stock Option Grant


CALGARY, AB, Aug. 18, 2021 /CNW/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, announces that it has granted, effective after market close on August 17, 2021, 2,500,000 stock options (each, an “Option”) to the Chief Executive Officer of the Company in accordance with the Company’s stock option plan.

Each Option is exercisable for one common share in the capital of the Company (a “Share”) at a price of $0.34 per Share, being the closing price of the Shares on the TSX Venture Exchange on August 17, 2021. The Options will vest in equal installments on January 1, 2022, January 1, 2023 and January 1, 2024 and will expire on January 1, 2026.

About Decibel

Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses along with its wholly owned retail business, Prairie Records. The Qwest Estate in Creston, BC is a licensed and operating 26,000 square foot cultivation space which produces the widely championed, rare cultivar-focused brands Qwest and Qwest Reserve, which are sold in six provinces across Canada. Thunderchild Cultivation, is a licensed and operating 80,000 square foot indoor cultivation facility in Battleford, SK. The Plant, Decibel’s extraction facility, in Calgary, AB has 15,000 square feet of Health Canada licensed extraction and product development space. This production house will fuel the growth of our brands Qwest, Qwest Reserve, and Blendcraft, into new and innovative product formats like concentrates, vapes, edibles and beyond.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Decibel Cannabis Company Inc.

For further information: Stuart Boucher, stuart.boucher@decibelcc.com, 780-619-0310, www.decibelcc.com

Decibel Announces Second Quarter Results with Strong Revenue and Fourth Consecutive Quarter of Record Adj. EBITDA


CALGARY, AB, Aug. 16, 2021 /CNW/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce its second quarter financial results for the three month period ending June 30, 2021.

The Company achieved net revenue of $12.4 million with strong gross margins of 41% and a record adj. EBITDA of $2.1 million, its fourth consecutive quarter of positive adj. EBITDA. 

“Decibel’s tremendous first half results are a testament to the strength of our brands, ability to innovate and our exceptional team”, said Paul Wilson, CEO of Decibel. “We continue to build a solid foundation by creating meaningful brands, high quality products and executing against our aggressive strategic plan.”

Management Commentary

In the first half of 2021, provincial distributors decreased their inventory levels, and, in some provinces, cannabis retail in-store shopping was restricted. This caused Qwest products to be out of stock for a cumulative 7 weeks. During this time, we enhanced production and our cost structure across our assets to expand gross margin and tailored an innovative product pipeline for the second half of 2021.

In the month of June, following the relaxation of COVID related restrictions and store re-openings, we experienced record level sales. In July, we saw a surge in demand for Decibel products and as a result, we have accelerated investment in our facilities to debottleneck and streamline production to meet these new levels. 

With the resumption of Ontario’s retail store roll-out, we have invested heavily in our sales team to increase our presence in the province. We expect that our sales team’s strong performance in western provinces (which kept retail stores open) will carry into the Ontario cannabis market and the team has seen early success with our recent product rollouts.

We are confident in our strategy centered around creating industry leading quality and choice to meet the needs of today’s cannabis consumer. With the strength in our multiple brands, we remain focused on driving innovation and bolstering our product offerings through our 2.0 pipeline and Thunderchild Cultivation flower production ramp up.

Key Financial Highlights

  • Net Revenue: Net revenue was $12.4 million in the second quarter, a 1% decrease over the prior quarter, driven by strong product sales across a number of categories but offset by stock-outs that totaled 7 weeks in the quarter, supply chain disruption given COVID and delayed or reduced purchase orders as a result of in-store shopping closures in Ontario. Net revenue grew by 111% over the comparative 2020 quarter.
  • Record Positive Adj. EBITDA: The Company achieved a record $2.1 million of adjusted EBITDA in the second quarter, its fourth consecutive quarter of positive adjusted EBITDA, and an increase of 6% from the prior quarter (improvement of $2.2MM from prior year). For the trailing twelve months, the Company has achieved $6.1MM in adjusted EBITDA.
  • Flower Sales: 449 kilograms sold in the second quarter, with an average wholesale net price per gram of $7.96, an increase of 4% and a decrease of 11%, respectively, over the prior quarter. The decline in price per gram was a result of a greater volume allocation towards Qwest products versus Qwest Reserve products which achieves a higher price point.
  • Derivative Sales: $5.7 million of net sales of vape and concentrate products in the second quarter, a 2% increase from the prior quarter. Sales growth was driven by increased demand for vape and concentrate products launched within Q2, partially offset by the COVID shut down in Ontario and product launch timeline changes implemented in Alberta and Ontario.
  • Retail Sales: $3.2 million of retail sales, a 1% increase over the prior quarter, primarily driven by seasonality and sales growth in the Alberta retail stores as COVID restrictions relaxed, partially offset by new entrants into the Saskatchewan retail market. Retail sales declined by 17% over the comparative 2020 quarter.
  • Product Innovation Roll-Out
    • Decibel continued its aggressive roll out of in demand products launching 15 new product SKUs across Ontario, Saskatchewan, Alberta and BC in the quarter with strong interest from customers in different jurisdictions and impressive market share improvements.
    • Focused on winning in Ontario, Decibel was successful in both the April and June OCS product calls, the Company achieved 15 new listings that have or will launch in Q2 and early Q3 of this year.
    • Launched two new cultivars, Stuffed French Toast under the Qwest brand and Sunset Mac under the Qwest Reserve brand, in new glass packaging.
    • Launched into the live concentrate category with two live resin vapes under the General Admission brand alongside two strains of Gems & Juice and Live Sugar under the Pressed by Qwest brand.
    • Launched into large format pre-rolls with the General Admission brand, its first dried flower product with 6, 7 and 12 x 0.5g pre-rolls.
  • Thunderchild Cultivation Operational Development: The Company continues to invest in working capital as it ramps the facility and has now fully planted and commissioned all 20 rooms with a number of rare cultivars coinciding with Decibel’s unique product roadmap. Thus far, the facility has achieved and outperformed expectations on yield per square foot. The Company anticipates run rate production by mid-Q4 with a focus on implementing a number of operational efficiencies that can be achieved in post processing.
  • Strengthened Balance Sheet: On May 13, 2021, the Company announced it had closed an amendment to its authorized overdraft facility increasing it from $1.5 million to $7.5 million with a committed interest rate of Prime + 1.00% (currently 3.45%). The additional capital will accelerate Decibel’s sales growth through the Thunderchild Cultivation facility and new vape and concentrate launches.

Quarterly Highlights

1. Adjusted EBITDA is a non-GAAP performance measure. Refer to “Cautionary Statement Regarding Certain Non-GAAP Performance Measures” for further details.

Decibel’s financial statements for the three-month period ending June 30, 2021 (“Financial Statements”) and related Management’s Discussion & Analysis (“MD&A”) for the reporting period are available under the Company’s profile at www.sedar.com. As of June 30, 2021, Decibel was in compliance with all of its financial covenants and expects to remain in compliance for the remainder of its twelve-month forecast period. 

About Decibel

Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses along with its wholly owned retail business, Prairie Records. The Qwest Estate in Creston, BC is a licensed and operating 26,000 square foot cultivation, processing and distribution space which produces the widely championed, rare cultivar-focused brands Qwest and Qwest Reserve, which are sold in six provinces across Canada. The Thunderchild Cultivation Facility, is a licensed and operating 80,000 square foot indoor cultivation facility in Battleford, SK. The Plant, Decibel’s extraction, processing and manufacturing facility, in Calgary, AB has 15,000 square feet of Health Canada licensed extraction and product development space. This production house will fuel the growth of our brands Qwest, Qwest Reserve, Blendcraft, and General Admission, into new and innovative product formats like concentrates, vapes, edibles and beyond.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements

Non-GAAP Measures

This news release contains the financial performance metric of Adjusted EBITDA, a measure that is not recognized or defined under IFRS (a “Non-GAAP Measure”). As a result, this data may not be comparable to data presented by other cannabis companies. For an explanation and reconciliation of Adjusted EBITDA to related comparable financial information presented in the Financial Statements prepared in accordance with IFRS, refer to the MD&A for the three and twelve months ended December 31, 2020. The Company believes that Adjusted EBITDA is a useful indicator of operational performance and is specifically used by management to assess the financial and operational performance of the Company.

The Company calculates Adjusted EBITDA as net loss and comprehensive loss excluding unrealized gain on changes in fair value of biological assets, change in fair value of biological assets realized through inventory sold, depreciation and amortization expense, share-based compensation, other income, finance costs, foreign exchange loss, non-cash production costs and severance payments. Non-cash production costs relate to amortization expense allocations included in production costs. Non-GAAP Measures should be considered together with other financial information prepared in accordance with IFRS to enable investors to evaluate the Decibel’s operating results, underlying performance and prospects in a manner similar to Decibel’s management.

Accordingly, this Non-GAAP Measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the Company’s ability to meet consumer demand, that the additional capital will accelerate Decibel’s sales growth through the Thunderchild facility and new vape and concentrate launch; the Company’s ability to grow Qwest, Qwest Reserve and Blendcraft brands into new and innovative product formats, variations and its other business plans and expectations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: risks relating to delays, regulatory changes and impacts, capital requirements, construction impacts, displacement requirements and unforeseen requirements resulting from the COVID-19 pandemic, the ability to obtain and maintain licences to retail cannabis products; review of the Company’s production facilities by Health Canada and maintenance of licences (including any amendments thereto) from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under the Company’s credit facilities; timing and completion of construction and expansion of the Company’s production facilities and retail locations; and the delay or failure to receive board, regulatory or other approvals, including any approvals of the TSX Venture Exchange, as applicable. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Decibel Cannabis Company Inc.

For further information: Contact Stuart Boucher, stuart.boucher@decibelcc.com, 780-619-0310, www.decibelcc.com

Decibel Announces Strategic Partnership to Bring US Brand Dabstract, and Exclusive Product Formulations to Canada


CALGARY, AB, July 7, 2021 /CNW/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce that it entered into a strategic partnership with Union Cannabis Group (“UCG”).

Under the strategic partnership, Decibel has gained access to unique product formulations and intellectual property for the manufacturing of vapes and concentrates. This partnership allows Decibel to acquire the exclusive right to produce these distinct product formulations for its existing brands, as well as, to manufacture and distribute UCG’s branded products under the Dabstract brand.

“Decibel is committed to continuously raising the bar when it comes to product quality and innovation in the cannabis industry” said Paul Wilson, Chief Executive Officer of Decibel. “This strategic partnership bolsters our product development pipeline in the high growth vape and concentrate product categories while strengthening our brand portfolio by bringing the renowned Dabstract brand to the Canadian marketplace.”

“UCG is proud to partner with Decibel, an organization that shares a steadfast commitment to authentic craft cannabis, product innovation and building strong brands in the cannabis industry” said Sushanta Parikh, Chief Executive Officer of UCG. “We look forward to helping Decibel grow the concentrate and vape categories in Canada with our manufacturing expertise and Dabstract brand.”

Highlights

  • Expanded Decibel brand portfolio with the addition of Dabstract, a leading premium concentrate and vape brand
  • Proprietary product formulations for vapes and concentrates being brought to Canada on an exclusive basis
  • Bolsters Decibel’s product pipeline of offerings that carry the high standard of quality Decibel products are known for

Link to Decibel’s Investor Presentation

About Decibel

Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses along with its wholly owned retail business, Prairie Records. The Qwest Estate in Creston, BC is a licensed and operating 26,000 square foot cultivation space which produces the widely championed, rare cultivar-focused brands Qwest and Qwest Reserve, which are sold in six provinces across Canada. Thunderchild Cultivation, is a licensed and operating 80,000 square foot indoor cultivation facility in Battleford, SK. The Plant, Decibel’s extraction facility, in Calgary, AB has 15,000 square feet of Health Canada licensed extraction and product development space. This production house will fuel the growth of our brands Qwest, Qwest Reserve, and Blendcraft, into new and innovative product formats like concentrates, vapes, edibles and beyond.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements

Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the company’s product release expectations and plans, the Company’s ability to grow Qwest, Qwest Reserve and Blendcraft brands into new and innovative product formats, variations and its other business plans and expectations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: risks relating to delays, regulatory changes and impacts, capital requirements, construction impacts, displacement requirements and unforeseen requirements resulting from the COVID-19 pandemic, the ability to obtain and maintain licences to retail cannabis products; review of the Company’s production facilities by Health Canada and maintenance of licences (including any amendments thereto) from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under the Company’s credit facilities; timing and completion of construction and expansion of the Company’s production facilities and retail locations; and the delay or failure to receive board, regulatory or other approvals, including any approvals of the TSX Venture Exchange, as applicable. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Decibel Cannabis Company Inc.

For further information: Stuart Boucher, stuart.boucher@decibelcc.com, 780-619-0310, www.decibelcc.com

Decibel Appoints Paul Wilson as CEO


CALGARY, AB, June 22, 2021 /CNW/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce  the appointment of Paul Wilson as its Chief Executive Officer, effective Wednesday, June 23rd.

Emphasizing the Company’s objective for brand growth, Mr. Wilson brings CEO and President level experience from some of Canada’s top consumer brands and is currently a member of Decibel’s board of directors. Mr. Wilson served as CEO, President, EVP, and Officer for consumer businesses, including leadership roles at Canadian Tire, Mark’s, Princess Auto, Spence Diamonds and Alcanna Nova Cannabis. As an experienced brand builder, Mr. Wilson has a consistent winning record in sectors ranging from hard goods to apparel and in formats ranging from start-ups and small chains to department stores and national chains.

“We are excited to continue our momentum with this key appointment. We were intent on adding a CEO who would complement our existing strategy and excellent management team” said Cody Church Chairman and interim CEO of Decibel. “The appointment follows a long and intensive search process that considered exceptional internal and external candidates. The focus of the search reflected the priorities of Decibel and the characteristics needed to address them. With Paul, we have selected a strategic leader and brand builder, with Decibel experience at the Board level.”

Paul Wilson commented “the Canadian cannabis industry is now coming together with the appropriate balance of resources to serve consumers. Decibel has done an exceptional job establishing premium brands like Qwest and Qwest Reserve, with production and supply capability to fulfill a significant segment of the rapidly evolving marketplace. I’m excited to be a part of this brand and this team, with a mandate to further strengthen and increase the value our shareholders have recognized.”

“I’d also like to thank the board of directors for its confidence and more importantly acknowledge the existing management team at Decibel who have established and grown our portfolio of brands as market leaders”, added Mr. Wilson.

About Decibel

Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses along with its wholly owned retail business, Prairie Records. The Qwest Estate in Creston, BC is a licensed and operating 26,000 square foot cultivation, processing and distribution space which produces the widely championed, rare cultivar-focused brands Qwest and Qwest Reserve, which are sold in six provinces across Canada. The Thunderchild Cultivation Facility, is a licensed and operating 80,000 square foot indoor cultivation facility in Battleford, SK. The Plant, Decibel’s extraction, processing and manufacturing facility, in Calgary, AB has 15,000 square feet of Health Canada licensed extraction and product development space. This production house will fuel the growth of our brands Qwest, Qwest Reserve, and Blendcraft, into new and innovative product formats like concentrates, vapes, edibles and beyond.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements

Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the Company’s expectations regarding its ability to bring a significant pipeline of new and innovative products to the market, the Company’s ability to grow Qwest, Qwest Reserve and Blendcraft brands into new and innovative product formats, variations and its other business plans and expectations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: risks relating to delays, regulatory changes and impacts, capital requirements, construction impacts, displacement requirements and unforeseen requirements resulting from the COVID-19 pandemic, the ability to obtain and maintain licences to retail cannabis products; review of the Company’s production facilities by Health Canada and maintenance of licences (including any amendments thereto) from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under the Company’s credit facilities; timing and completion of construction and expansion of the Company’s production facilities and retail locations; and the delay or failure to receive board, regulatory or other approvals, including any approvals of the TSX Venture Exchange, as applicable. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Decibel Cannabis Company Inc.

For further information: Stuart Boucher, stuart.boucher@decibelcc.com, 780.619.0310, www.decibelcc.com

Decibel Announces Launch of Premium Brand “Pressed by Qwest” and New Flower, Vape, and Concentrate Products


CALGARY, AB, June 17, 2021 /CNW/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSX-V: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce the launch of its high-end concentrate brand, “Pressed by Qwest“, and new dried flower, pre-roll, vape, and concentrate products.

“The launch of Pressed by Qwest marks our first step into the premium concentrate category, mirroring our approach with Qwest in dried flower, we are bringing rare cultivars, high-standard craft quality, and choice to consumers.” said Cody Church, Interim Chief Executive Officer of Decibel. “Our strategic focus remains on expanding our market share as we launch our premium cannabis 2.0 products and increasing our flower capacity from 1,800 kg to 9,000 kg over this year.”

New Flower Products

In the second half of 2021, Decibel will launch a brand-new set of rare cultivars under the Qwest and Qwest Reserve brands.  Frequent rotation of unique genetics that deliver high THC, terpenes and exceptional taste and effect is core to the Qwest Family of Brands product strategy.  The Company expects to launch seven new cultivars in 2021 as well as, a new high THC, pre-milled flower product under the Blendcraft by Qwest Brand.

Qwest Family of Brands

Within the next month Decibel will begin the roll out of its new cultivar and dried flower program across all registered provinces:

  • Qwest Reserve Sunset MAC a cross of Sunset Sherbet and MAC1 with the first lot at 28.5% THC
  • Qwest Stuffed French Toast a cross of Cookies & Cream and French Toast with the first lot at 24% THC
  • Blendcraft by Qwest milled flower bag that includes a blend of cultivars with a THC range of 23 – 29%

General Admission

  • Entry into the pre-roll category with two SKUs, with General Admission Kootenay Fruit large format, multi-packs

Thunderchild operations are tracking well, and quality remains at Qwest standards as Decibel works towards reaching full run rate production. Early-stage harvests have been slightly above management expectations for yield and harvested crops have tested between 24% – 28.5% THC. Notable operational highlights include:

  • Completed the eighth harvest since commencement of operations
  • 10 of 20 grow rooms planted and at various stages of cultivation (50% of total facility planted)
  • Anticipating run rate of eight harvests per month from the Thunderchild facility by August 2021

New Vape and Concentrate Products

Decibel is committed to consistent innovation and premiumization in the concentrate and vape categories.  The launch of Pressed by Qwest, a concentrate focused brand under the Qwest Family of Brands, allows Decibel to have a format focused brand, concentrate consumers can trust to deliver exceptional quality.

Pressed by Qwest

In June and July, Decibel will begin its roll out of premium live concentrates under Pressed by Qwest across all registered provinces:

  • Purple Papaya Gems & Juice (aka. Diamonds & Sauce)
  • Apricot Kush Gems & Juice (aka. Diamonds & Sauce)
  • Apricot Kush Live Sugar

General Admission

Despite launching early Q4’20, General Admission has achieved 10% market share in Q1’21 through consistent, consumer insight led innovation at approachable pricing.  Live resin vapes will lead premiumization in the vape category with General Admission at the forefront.

  • Kootenay Fruit Live Resin Vape launched in AB, BC, SK in May, and ON in July
  • Guava Chemdawg Live Resin Vape launching in July

Link to Decibel’s Investor Presentation

About Decibel

Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses along with its wholly owned retail business, Prairie Records. The Qwest Estate in Creston, BC is a licensed and operating 26,000 square foot cultivation space which produces the widely championed, rare cultivar-focused brands Qwest and Qwest Reserve, which are sold in six provinces across Canada. Thunderchild Cultivation, is a licensed and operating 80,000 square foot indoor cultivation facility in Battleford, SK. The Plant, Decibel’s extraction facility, in Calgary, AB has 15,000 square feet of Health Canada licensed extraction and product development space. This production house will fuel the growth of our brands Qwest, Qwest Reserve, and Blendcraft, into new and innovative product formats like concentrates, vapes, edibles and beyond.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements

Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the company’s product release expectations and plans, the anticipated increase to the Company’s flower capacity and the timing thereof, Decibel’s launch a of brand-new set of rare cultivars under the Qwest and Qwest Reserve brands and the timing thereof, the Company expectation that it will launch seven new cultivars in 2021 as well as, a new high THC, pre-milled flower product under the Blendcraft by Qwest Brand, the Company’s expectation that, within the next month, Decibel will begin the roll out of it’s new cultivar and dried flower program across all registered provinces, the anticipated run rate of harvests per month from the Thunderchild facility by August 2021, that Decibel will begin its roll out of premium live concentrates under Pressed by Qwest across all registered provinces and the timing thereof, the Company’s ability to grow Qwest, Qwest Reserve and Blendcraft brands into new and innovative product formats, variations and its other business plans and expectations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: risks relating to delays, regulatory changes and impacts, capital requirements, construction impacts, displacement requirements and unforeseen requirements resulting from the COVID-19 pandemic, the ability to obtain and maintain licences to retail cannabis products; review of the Company’s production facilities by Health Canada and maintenance of licences (including any amendments thereto) from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under the Company’s credit facilities; timing and completion of construction and expansion of the Company’s production facilities and retail locations; and the delay or failure to receive board, regulatory or other approvals, including any approvals of the TSX Venture Exchange, as applicable. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Decibel Cannabis Company Inc.

For further information: Stuart Boucher, stuart.boucher@decibelcc.com, 780-619-0310, www.decibelcc.com

Decibel Announces Results of Annual Meeting


CALGARY, AB, June 11, 2021 /CNW/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce the results of its annual general meeting of shareholders held on June 10, 2021 (the  “Meeting”).

Results of the Meeting

Decibel’s shareholders approved all matters submitted by the Company for consideration at the Meeting.
Due to the special circumstances arising from the global COVID-19 pandemic, and following the guidance of local health authorities for social distancing, Decibel encouraged shareholders to vote in advance of the Meeting using the instructions provided in the Notice of Meeting and Management Informational Circular and Proxy Statement. The Company also provided remote access to the Meeting via an audio webinar.

At the Meeting, Decibel’s shareholders:

(i)fixed the number of directors of the Company to be elected at the Meeting at three directors;
(ii)elected each of Cody Church, Paul Wilson, and Michael Kelly to serve as directors of the Company; and
(iii)appointed KPMG LLP, Chartered Professional Accountants, as the Company’s auditors.

About Decibel

Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses along with its wholly owned retail business, Prairie Records. The Qwest Estate in Creston, BC is a licensed and operating 26,000 square foot cultivation, processing and distribution space which produces the widely championed, rare cultivar-focused brands Qwest and Qwest Reserve, which are sold in six provinces across Canada. The Thunderchild Cultivation Facility, is a licensed and operating 80,000 square foot indoor cultivation facility in Battleford, SK. The Plant, Decibel’s extraction, processing and manufacturing facility, in Calgary, AB has 15,000 square feet of Health Canada licensed extraction and product development space. This production house will fuel the growth of our brands Qwest, Qwest Reserve, and Blendcraft, into new and innovative product formats like concentrates, vapes, edibles and beyond.

www.decibelcc.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Decibel Cannabis Company Inc.

For further information: Contact Stuart Boucher, stuart.boucher@decibelcc.com, 780.619.0310