CALGARY, ALBERTA – November 1, 2021 –Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSX-V:DB) (OTCQB:DBCCF), a premium cannabis producer, is pleased to announce the Company will release its 2021 third quarter financial results and related management discussion and analysis on November 18, 2021 before markets open.
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.
“We are incredibly excited to launch 6 new products for our retail partners in Ontario and consumers to enjoy” said Paul Wilson, Decibel CEO.” This is the start of the roll out of our much anticipated new set of cultivars launching in Ontario, British Columbia, Alberta and Saskatchewan over the next 6 weeks. With the ramp up of our Thunderchild Cultivation facility in full effect we are bringing meaningful innovation and variety in dried flower and derivative products for retailers and consumers.”
Flower
With all of Decibel’s flower and pre-roll cultivar offerings now fully listed in all its major markets, these new cultivar launches are the start of Decibel’s full product rotational strategy. Alongside listing objectives now being complete, the Thunderchild Cultivation facility has achieved run-rate production while maintaining Qwest’s high-quality standards, and strongly positions Decibel’s flower strategy with enough volume to meet demand as additional cultivars are being introduced over the coming weeks.
Decibel’s two new cultivar drops in Ontario from the Thunderchild Cultivation facility:
jarred flower (Papaya x Wedding Cake) with 29.1% THC
pre-rolls (Papaya x Wedding Cake) with 25.7% THC
jarred flower (Banana x OG Kush x Trophy Wife) with 29.7% THC
Papaya Cake and Banana OG are available for licensed Ontario retailers to order today and will be available for consumers to purchase next week at their local licensed retailer or on OCS.ca. These cultivars will become available in British Columbia, Alberta and Saskatchewan in November.
Derivatives
The Company continues to drive innovation and execute its premiumization strategy with vape and concentrate offerings, now launching its first solventless product in market under Pressed by Qwest. In addition to this new product format, Decibel is launching a new flavour of its distillate vape line up and expanding its Kootenay Fruit live resin vape distribution into Ontario, which has seen strong demand in Western Canada.
Sunset MAC solventless cold cured rosin with 84.3% total cannabinoids and 12.4% total terpenes
Strawnana distillate vape in two size formats
Kootenay Fruit live resin vape in a trial size, 0.45g format
These General Admission and Pressed by Qwest products are available for licensed Ontario retailers to order today and will be available for consumers to purchase next week at their local licensed retailer or on OCS.ca. They will be available for Alberta retailers to order this Friday, October 22nd from the AGLC.
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.
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 business plans and strategies, anticipated product launches, including the timing and location of the same 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.
These forward-looking statements 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 or beliefs, opinions, projections, or other factors, should they change.
“We remain focused on capturing additional market share through the strength of our brands, industry-leading product quality and continued innovation to meet cannabis consumer’s evolving preferences” said Paul Wilson, Chief Executive Officer of Decibel. “We are closing out 2021 with strong momentum, as we fully realize the impact of our 2021 growth initiatives”.
Market Share
Strong market share across BC, AB, SK, ON in September 20211,2:
Successful Product Listings & Upcoming Launches
Decibel continues to drive innovation within the recreational market, focusing on consumer insights to shape selection of product offerings, cannabinoid profiles, formulations, and flavours. In its Q2 2021 financial results, Decibel averaged approximately $180 thousand in net revenue per product SKU3 (annualized ~$720 thousand in net revenue per product SKU).
Decibel is in the process of launching 40 new product SKUs between September and January:
Flower
Flower and pre-roll volumes from Decibel’s cultivation assets achieved run-rate harvests in August and are now in the post-harvest phase, with record volumes available for sale mid-Q4. In anticipation of these volumes, Decibel has now listed all flower and pre-roll cultivar offerings in its three major markets – British Columbia, Alberta, and Ontario – in addition to Saskatchewan, and Manitoba.
– 10 new product listings launching in the next 2 months (2 launched recently)
– 12 new product listings launching over the next 4 months (4 launched recently)
– 14 new product listings launching in the next 2 months (4 launched recently)
Derivatives
The Company continues to innovate with its vape and concentrate offerings with upcoming product line extensions providing more flavours of existing formats, expanding into new & unique product formats, and brand extensions into new product categories.
– 3 new product listings launching in the next 2 months with listing process of additional products ongoing (2 launched recently)
– 13 new product listings launching over the next 4 months (2 launched recently)
– 10 new product listings launching over the next 2 months (4 launched recently)
1 HiFyre Retail Analytics, Licensed Producer Sales over Time in BC, AB, SK, ON, September 1 – September 30, 2021
2 HiFyre Retail Analytics, Premium flower market defined as flower products sold more than 20% above average selling price per gram
3 See Decibel’s investor presentation page 12.
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.
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 business plans and strategies, expectations for 2021 and the realization of growth initiatives, anticipated product launches 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.
These forward-looking statements 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 or beliefs, opinions, projections, or other factors, should they change.
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
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
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
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
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
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.
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
CALGARY, AB, May 27, 2021 /CNW/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce its first quarter financial results for the three month period ending March 31, 2021.
Record Market Share Across BC, AB, SK, ON in Q1 20211,2:
#1 brand in premium flower sales with an 8.4% market share
#1 brand in concentrate sales with a 21.9% market share
#3 brand in vape sales with a 10.0% market share
“These exceptional first quarter results are a testament to the strength of our brands, industry-leading product quality and ability to develop and execute an innovative product portfolio that meets the needs of today’s cannabis consumer”, said Cody Church, Interim CEO of Decibel. “Despite significant industry headwinds in the quarter, we delivered on our commitment of sustainable and profitable growth, while substantially strengthening our balance sheet and available liquidity.”
Key Financial Highlights
Record Net Revenue: Net revenue grew to $12.6 million in the first quarter, an 11% increase over the prior quarter, driven by strong sales growth from vape and concentrate products and continued demand for Qwest flower. Net revenue grew by 151% over the comparative 2020 quarter.
Record Positive Adj. EBITDA: The Company achieved a record $2.0 million of adjusted EBITDA in the first quarter, its third consecutive quarter of positive adjusted EBITDA, and an increase of 84% from the prior quarter. Adjusted EBITDA improved by $2.5 million over the comparative 2020 quarter.
Flower Sales: 432 kilograms sold in the first quarter, with an average wholesale net price per gram of $8.94, an increase of 14% and 4%, respectively, over the prior quarter. Decibel continues to see strong demand for premium cannabis and its Qwest products, which command industry leading pricing with demand outstripping current supply.
Derivative Sales: $5.6 million of net sales of vape and concentrate products in the first quarter, a 23% increase from the prior quarter. Sales growth was driven by increased demand for vape and concentrate products launched in the fourth quarter.
Retail Sales: $3.2 million of retail sales, a 15% decrease over the prior quarter, primarily driven by seasonality and new entrants into the Saskatchewan retail market. Retail sales grew by 13% over the comparative 2020 quarter. Decibel’s retail portfolio continues to bring strategic value, contributing to the success of recent product launches, product innovation and understanding consumer trends.
Thunderchild Operational Development:
Achieved a minor contribution of first revenue out of the facility in March 2021
Completed seventh harvest since commencement of operations
Eight grow rooms planted and at various stages (40% of total facility planted)
Launch of New Vape & Concentrate Products:
In April, Decibel continued to innovate in the vape category with the launch of its first 100% Live Resin Vape with its General Admission Kootenay Fruit live resin vape and a new flavour of distillate vape with its General Admission Rainbow Sherb distillate vape cartridge
In April, Decibel launched into the premium concentrate category with its first live, loose concentrate with its Apricot Kush live sugar, available in BC, Alberta and Saskatchewan now and in Ontario in July
Additional upcoming Q2 2021 launches including additional live resin vapes and live sugar along with gems & juice (diamonds & sauce)
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 facility and new vape and concentrate launches
Decibel’s financial statements for the three-month period ending March 31, 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 March 31, 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.
1 HiFyre Retail Analytics, Licensed Producer Sales over Time in BC, AB, SK, ON, January 1, 2021 – March 31, 2021
2 HiFyre Retail Analytics, Premium flower market defined as flower products sold more than 20% above average selling price per gram
3 Inter-company revenue of $658 pertaining to sales to the retail operations, has been eliminated on the Company’s Interim Consolidated Financial Statements. In the table above, the inter-company revenue elimination has been allocated between wholesale revenue and retail revenue to provide a more accurate depiction of business performance.
4 Adjusted EBITDA is a non-GAAP performance measure. Refer to “Cautionary Statement Regarding Certain Non-GAAP Performance Measures” for further details.
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
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: Stuart Boucher, stuart.boucher@decibelcc.com, 780-619-0310; www.decibelcc.com
CALGARY, AB, May 13, 2021 /CNW/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSX-V:DB) (OTCQB:DBCCF), a premium cannabis producer, is pleased to provide a corporate update regarding record performance of its cannabis derivative products, operational developments at its Thunderchild facility and other key initiatives.
“We are expanding our market share in the high growth premium flower, concentrate, and vape categories, through our commitment to quality, innovation, and creating choice for customers.” said Cody Church, Interim Chief Executive Officer of Decibel. “We continue to execute on our strategic plan with two significant inflection points coming – the launch of our premium cannabis 2.0 products and increasing our flower capacity from 1,800 kg to 9,000 kg over this year.”
To support the production growth and innovation pipeline, Decibel has doubled its sales force with a focus on the Ontario, BC and Alberta markets to ensure budtenders and retailers are educated on the quality of Decibel products and these products are highly visible to consumers at the point of purchase.
Corporate Update – Flower
In the fourth quarter of 2020, Decibel made minor investments in lighting, monitoring, and other tools to improve yields within the Qwest Estate cultivation facility in Creston, BC. The results from this investment have been significant in Q1 2021, with total harvested sellable flower of ~483kg compared to the prior quarter of 300kg, a 61% improvement.
In Q1 2021, across British Columbia, Alberta, Saskatchewan, and Ontario, Decibel achieved1:
#1 brand in the premium flower sales with an 8.4% market share under Qwest2
Exited the quarter with an 8.2% market share in March 2021
Continues to remain supply constrained in key markets
Thunderchild operations are on track with Decibel’s execution timeline to reach full run rate production. The facility is integral to Decibel’s rotational strategy to deliver consumers more choice of quality grown, rare cultivars in the dried flower and pre-roll product categories.
The Thunderchild Facility achieved first revenue out of the facility ahead of guidance in March 2021, with first product testing between 23.5 – 26% THC
Completed fourth harvest since commencement of operations
Six grow rooms planted and at various stages (30% of total facility planted)
East wing vegetation rooms now online to service second half of facility
Corporate Update – Concentrates and Vapes
Since January 2021, Decibel has launched 7 SKUs and now has a total of 29 vape and concentrate SKUs in recreational markets across five provinces including British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario. Looking ahead, the Company anticipates launching over 23 additional product SKUs to meet its 30 product SKU target for 2021, including its highly anticipated premium branded vapes and concentrates.
In Q1 2021, across British Columbia, Alberta, Saskatchewan, and Ontario, Decibel achieved1:
#1 brand in concentrate sales with a 21.9% market share under Blendcraft by Qwest
Exited the quarter with a 22.5% market share in March 2021
#3 brand in vape sales with a 10.0% market share under General Admission brand
Exiting the quarter with a 10.8% market share in March 2021
In April 2021, Decibel continued to innovate in the vape category with the launch of its first 100% Live Resin Vape with its General Admission Kootenay Fruit live resin vape and a new flavour of distillate vape with its General Admission Rainbow Sherb distillate vape cartridge
In April 2021, Decibel launched into the premium concentrate category with its first live, loose concentrate, with its Apricot Kush live sugar, available in BC, Alberta and Saskatchewan now and in Ontario in July
Additional Q2 2021 launches upcoming including additional live resin vapes and live sugar along with gems & juice (diamonds & sauce)
Corporate Update – Working Capital
Decibel is pleased to announce that is has entered into an amendment to its commitment letter with Connect First Credit Union Ltd. (“Connect First”) in respect of the Company’s $1.5 million authorized overdraft against government receivables (the “Authorized Overdraft”). The Authorized Overdraft will increase from $1.5 million to $7.5 million with a committed interest rate of Prime + 1.00% (currently 3.45%). The additional capital will support and accelerate Decibel’s continued sales growth through the Thunderchild cultivation facility and new vape and concentrate launches. Decibel expects to close the increase to the Authorized Overdraft on or before May 14th, 2021.
1 HiFyre Retail Analytics, Licensed Producer Sales over Time in BC, AB, SK, ON, January 1, 2021 – March 31, 2021
2 HiFyre Retail Analytics, Premium flower market defined as flower products sold more than 20% above average selling price per gram
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 expected closing date of the increase to the Authorized Overdraft, the launch of the Company’s premium cannabis 2.0 products and increased flow capacity, anticipated execution timeline for Thunderchild to reach full run rate production and the results and benefits thereof, the anticipated launch of over 23 additional product SKUs and the nature thereof, the anticipated increase to the Authorized Overdraft and the terms 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
CALGARY, AB, May 10, 2021 /CNW/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce the Company will have senior management participating in the following virtual conferences.
In addition to the webcast presentation, Decibel will be conducting virtual one-on-one and group meetings with investors. If you are attending the conference and would like to request a meeting with management, please do so through the conference portal.
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 expectations regarding theits ability to bring a significant pipeline of new and innovative products to the market, expected number of grow rooms at Thunderchild at the timing of the first revenue therefrom, 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
