CALGARY, ALBERTA – February 16, 2022 –Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSX-V:DB) (OTCQB:DBCCF), a premium cannabis producer, is pleased to provide an update on its recent Canadian recreational market share.
“Our market share growth continues to gain momentum, driven by the superior experiences that our brands and products offer to our customers, coupled with a focus on bringing new, unique and innovative products to market” said Paul Wilson, Chief Executive Officer of Decibel. “With a strong footing established early this year, we are confident in maintaining and accelerating this pace of growth, through additional product launches, entry into new markets, and operational efficiency gains acting as catalysts to drive shareholder value this year.”
Market Share Summary
|Nov. 2021||Dec. 2021||Jan. 2022|
Market Share in Decibel’s Major Markets1
National Market Share1
Ontario Market Share1
- Decibel’s market share has grown from 3.1% to 3.2% over the same period
- #3 brand in premium flower & pre-roll sales with a 7.4% market share2
- #8 brand in concentrate sales with a 4.1% market share
- #2 brand in vape sales with a 11.4% market share
1 HiFyre Retail Analytics, Licensed Producer Sales over Time Nationally and in BC, AB, SK, ON, November 1, 2021 – January 31, 2022. Decibel’s Major Markets consist of BC, AB, SK, ON.
2 HiFyre Retail Analytics, Premium flower and pre-roll market defined as flower products sold more than 20% above average selling price per gram.
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.
For More Information
Contact: Stuart Boucher
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 Company’s business plans and strategies, including: that Decibel is well positioned to continue its revenue and market share growth, 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; counterparty risk; 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 news release also contains future-oriented financial information and financial outlook information (collectively, “FOFI”) about the Company’s prospective results of operations including, without limitation, its expectation that it is well positioned to continue its revenue and market share growth. 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, the FOFI and are subject to the risks set forth above. 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 news 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.