CALGARY,
AB, Jan. 23, 2023 /CNW/ - Decibel Cannabis
Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB:
DBCCF), a premium cannabis producer, is pleased to announce another
month of record market share in December
2022.
"Our continued market share growth in a highly competitive
environment is a testament to our commitment to innovation and
quality products", said Paul Wilson,
CEO of Decibel. "With continued success in our brands and products,
the demand we are experiencing has been tremendous and provides
opportunity for growth for Decibel in 2023."
Record National Market Share1:
Achieved 6.7% in December 2022
which places Decibel as the third largest LP in Canada by market share.
- Fastest growing top 10 LP by market share over 2022 with 77%
market share growth
- Record Canadian market share driven by gains in vape and
pre-roll categories:
-
- #1 in national vape sales with a 17.7% market share
- #1 in national pre-roll sales with an 11.8% market share
New Unique and Innovative
Decibel is launching or expanding distribution of the following
products in January:
- Total of 11 products launched in the Ontario market
- 6 General Admission and Qwest infused pre-rolls
- 1 General Admission distillate vape
- 4 Qwest jarred flower and pre-rolls
1 HiFyre
Retail Analytics, Licensed Producer Sales over Time Nationally,
January 1, 2022 – December 31, 2022.
|
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, Decibel's opportunity for growth in 2023 and
the launch of certain products in January of 2023; 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.
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SOURCE Decibel Cannabis Company Inc.