CALGARY, ALBERTA – November 21, 2022 –Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSX-V:DB) (OTCQB:DBCCF), announces the timing of its annual general meeting (the “Meeting”) of holders of common shares (the “Shareholders”) of the Company will be held at 4:00pm (Calgary Time) on Friday, December 9, 2022 (the “Meeting”). The management information circular related to the Meeting was mailed to Shareholders on November 18th and is also publicly available on Decibel’s SEDAR page.
“We are launching the next chapter of the Decibel story with an exceptional new group of experienced cannabis and CPG board members who will create immense value for the Decibel shareholders”, said Cody Church current Chairman of Decibel. “I would like to sincerely thank Mike Kelly and Ivan Casselman for their tireless work and outstanding contributions over the last few years and as we transition off the board, we would like to thank Decibel for the opportunity to be part of this great story”, said Church.
“Decibel is very excited by the proposed slate of directors. We are very fortunate to have attracted such an accomplished group, all with notable cannabis pedigrees. This is a testament to Decibel’s success and most importantly our obvious potential”, said Paul Wilson, Chief Executive Officer of Decibel.
New Director Nominees
Paul Wilson (CEO)
Paul is currently a director and CEO of Decibel. Prior to joining Decibel, Paul 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.
Manjit has significant CPG expertise, having co-founded the Minhas Brewery, Distillery and Winery with over 90 brands of beers, spirits liqueurs and wines. Her products are sold in 5 provinces as well as 47 states throughout the USA and 16 other countries. She also appears as a television personality on the Canadian reality series, Dragon’s Den, where she has invested in dozens of Canadian businesses. Manjit also has specific cannabis industry experience as a former member of the board of directors of Inner Spirit Holdings Ltd (Spiritleaf).
Shawn is an early investor and strategic thought leader in the North American cannabis industry. As an early investor in Aphria, he served on their board until November 2019. In addition, he co-founded and serves as an advisor to the board of Green Acre Capital (Canada’s largest cannabis private investment fund) and serves as a director of Humble & Fume Inc. (“Humble & Fume”), a leading North American distributor of cannabis products. He currently oversees the investment and growth of his personal holding company.
Jakob is the Chief Executive Officer of Perennial Brands Inc, a full life-cycle brand strategy organization. He was formerly the President of Aphria and held multiple roles at Diageo PLC including CFO of Diageo North America. In June 2021 Jakob joined Humble & Fume, as Chairman of the Board. He also serves on the Audit Committee and Compensation and Corporate Governance Committee of Humble & Fume.
Nadia is CFO and Head of Logistics for Sporting Life Group. Her experience includes launching and overseeing new multi-jurisdictional companies and business lines, extensive M&A, leading the execution of complex multi-functional initiatives, transformation and navigating regulatory environments. Prior to her current role, Nadia was the COO of Fire & Flower, a cannabis retailer with over 100 locations across Canada, and held senior finance roles at Holt Renfrew, Canadian Tire, and Maple Leaf Foods.
Decibel would like to thank all of the directors not standing for re-election for their efforts in helping the Corporation achieve its success to date.
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
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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, Decibel’s expectations regarding future appointment and success of its director nominees; that Decibel and the Shareholders will be positively affected by the appointment of such director nominees; and 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; timing and completion of construction and expansion of the Company’s production facilities and retail locations; the risk that the Company may not remain in compliance with all of its financial covenants for the remainder of its twelve-month forecast period; and the delay or failure to receive board, regulatory or other approvals, including any approvals of the TSXV, as applicable. Many of these risks and uncertainties and additional risk factors are described in the Company’s Annual Information Form and Management’s Discussion and Analysis for the year ended December 31, 2021, which are available at www.sedar.com.
With respect to forward-looking statements contained in this press release, Decibel has made assumptions regarding, but not limited to: Decibel’s ability to raise additional capital and to execute on its plans; the timelines for new product launches, Decibel’s ability to continue investing in infrastructure and implement scalable controls, systems and processes to support its growth; the impact of competition; the changes and trends in Decibel’s industry or the global economy; the Company’s ability to generate sufficient cash flow from operations and obtain financing, if needed, on acceptable terms or at all; the general economic, financial market, regulatory and political conditions in which the Company operates; the ability of the Company to ship its products and maintain supply chain stability; consumer interest in the Company’s products; anticipated and unanticipated costs; government regulation of the Company’s activities and products; the timely receipt of any required regulatory approvals; the Company’s ability to conduct operations in a safe, efficient and effective manner; the Company’s construction plans and timeframe for completion of such plans; and the changes in laws, rules, regulations, and global standards.
Readers are cautioned that the foregoing list of assumptions and risk factors is not exhaustive. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and Decibel does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws. 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.