CALGARY,
AB, Nov. 18, 2022 /CNW/ - November 18,
2022 – Decibel Cannabis Company Inc. (the "Company" or
"Decibel") (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer,
is pleased to announce it has delivered it's first shipment of
Qwest dried flower to Breath of Life International Ltd ("Breath of
Life") for sale in the Israel
market. This marks the Company's first international shipment
and revenue generation.
"This shipment is our first step of many into the international
cannabis markets", said Adam Coates
Chief Revenue Officer of Decibel. "The Qwest brand has built a
reputation in Canada as a
favourite for consumers with the highest quality, craft cannabis
products. As international cannabis markets expand, the demand for
more premium products, like Qwest, will be at the forefront of
growth and Decibel is well positioned to take a leadership position
in this category."
Key Highlights
- $4.8 million supply and trademark
license agreement executed with Breath of Life to launch the Qwest
brand in Israel.
- First shipment includes four Qwest strains:
-
- Icicle, Frosted Cherry Cookies, Sour Strawberry x Trophy Wife
and Apple Mac
- A second shipment to Israel is
expected for late Q4 2022 or early Q1 2023 as a result of strong
pre-sales of the first shipment.
- The second shipment is expected to include the introduction of
two new Qwest cultivars: Terpee Slerpee and Grape Cream Cake.
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 the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) 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, Decibel's expectations regarding future
shipments to Israel; 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; 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 expansion 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.
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SOURCE Decibel Cannabis Company Inc.