CALGARY, Alta., November 18, 2022 /PRNewswire/ – November 18, 2022 – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce that it delivered its first shipment of Qwest dried flowers to Breath of Life International Ltd (“Breath of Life”) for sale in the Israel market. This is the company’s first international shipment and first revenue generation.
“This delivery is our first step of many into international cannabis markets,” said Adam Coats Chief Revenue Officer of Decibel. “The Qwest brand has built a reputation in Canada as a consumer favorite with the highest quality craft cannabis products. As international cannabis markets expand, demand for higher-end products like Qwest will be at the forefront of growth and Decibel is well positioned to take a leadership position in this category. »
- $4.8 million supply and brand license agreement signed with Breath of Life to launch the Qwest brand in Israel.
- The first shipment includes four Qwest strains:
- Ice Cube, Frosted Cherry Cookies, Sour Strawberry x Trophy Wife and Apple Mac
- A second expedition to Israel is scheduled for late Q4 2022 or early Q1 2023 due to strong pre-sales of the first shipment.
- The second delivery should include the introduction of two new Qwest cultivars: Terpee Slerpee and Grape Cream Cake.
Decibel is uncompromising in the process and craftsmanship required to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses as well as its wholly-owned retail business, Prairie Records. The Qwest domain at Creston, BC is a 26,000 square foot licensed and operated grow space that produces the widely championed and rare cultivar-focused brands Qwest and Qwest Reserve, which are sold in six provinces across Canada. Thunderchild Cultivation, is an 80,000 square foot indoor cultivation facility licensed and operated in Battleford, Sask.. L’Usine, Decibel’s extraction plant, in Calgary, Alta. has 15,000 square feet of Health Canada-licensed extraction and product development space. This production house will fuel the growth of our Qwest, Qwest Reserve, Blendcraft and General Admission brands, in new and innovative product formats like concentrates, vapes, edibles and more.
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.
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical facts, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Any statement involving discussion of predictions, expectations, beliefs, plans, projections, goals, 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”, “budgets”, “expects”, “expects”, “estimates”, “believes ” or “intends” or variations of these words and expressions or indicating that certain actions, events or results “might” or “could”, “will”, “could” or “will” be expected to occur or be achieved ) are not statements of historical fact and may be forward-looking statements.
In this press release, forward-looking statements relate, among other things, to Decibel’s expectations regarding future deliveries to Israel; and the Company’s ability to develop the 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 on a number of estimates and assumptions which, while believed to be reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results to differ. and future events differ materially from those expressed or implied. by such forward-looking statements. These factors include, but are not limited to: risks associated with delays; regulatory changes and impacts; capital requirements; construction impacts; travel needs and unforeseen needs resulting from the COVID-19 pandemic; the ability to obtain and maintain licenses for the retail sale of cannabis products; the review of the Company’s production facilities by Health Canada and the maintenance of Health Canada’s licenses (including any changes thereto); future legislative and regulatory developments regarding cannabis; inability to access sufficient capital from internal and external sources and/or inability to access sufficient capital on favorable terms; the labor market generally and the ability to access, hire and retain employees; general business, economic, competitive, political and social uncertainties; the timing and completion of construction and expansion of the Company’s production facilities and retail outlets; the risk that the Company will not meet all of its financial commitments for the remainder of its twelve-month forecast period; and delay or failure to receive board, regulatory or other approvals, including TSXV approvals, as applicable. Many of these risks and uncertainties as well as additional risk factors are described in the Company’s Annual Information Form and MD&A for the year ended December 31, 2021available on www.sedar.com.
With respect to the 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 execute its expansion plans; the timing of new product launches, Decibel’s ability to continue to invest in infrastructure and implement scalable controls, systems and processes to support its growth; the impact of competition; changes and trends in Decibel’s industry or the global economy; the Company’s ability to generate sufficient cash flow from operations and to obtain financing, if necessary, on acceptable terms or not at all; the general economic, financial, regulatory and political conditions in which the Company operates; the Company’s ability to ship its products and maintain supply chain stability; consumer interest in the Company’s products; planned and unplanned costs; government regulation of the Company’s activities and products; the timely receipt of all required regulatory approvals; the Company’s ability to conduct its business safely, efficiently and effectively; the Company’s construction plans and the schedule for execution of such plans; and changes in global laws, rules, regulations and 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 press release are made as of the date hereof, and Decibel undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as required by securities laws. applicable securities so require. These forward-looking statements are made as of the date of this press release, and the Company disclaims any intention or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except if necessary. by applicable securities laws.
SOURCE Decibel Cannabis Company Inc.