Decibel Cannabis Company Inc. (the “Company” or “Decibel“) (TSX-V:DB) (OTCQB:DBCCF) announces licensing developments at its Thunderchild Cultivation facility and The Plant extraction facility along with a general business update. The Company is actively working to mitigate the risk of disruption to its operations, due to COVID-19, with a focus on supporting the communities it operates in and providing a safe working environment for its employees and customers, all while continuing to progress its strategic plan.
“The Decibel team is working hard to continue to safely and efficiently produce our products, stay open for our customers, provide employment and support the communities in which we operate” said Benjamin Sze, CEO of Decibel. “Despite the challenges our country is facing during these unprecedented times, I am proud of the excellent progress we have made for our employees, customers and shareholders.”
The Qwest Estate and Prairie Records
Decibel’s Qwest Estate cultivation facility in Creston, BC and Prairie Records retail stores in Saskatchewan and Alberta, remain fully operational with enhanced protective measures in place to prioritize employee and customer safety. Additionally, Decibel continues to make excellent progress on the development and licensing of its University of Alberta and Palace Theatre cannabis retail stores, which are expected to be completed and licensed in May 2020.
Thunderchild Cultivation Facility
On April 13, 2020, dB Thunderchild Cultivation LP, a subsidiary of Decibel, submitted a complete site evidence package to Health Canada in connection with its application for a cultivation licence for its Thunderchild Cultivation facility, in Battleford, Saskatchewan.
The Plant Extraction & Manufacturing Facility
On March 30, 2020, Decibel’s subsidiary Westleaf Labs LP, submitted a sales licence amendment application for the sale of dried cannabis products and cannabis extract products produced at The Plant, its extraction and manufacturing facility located in Calgary, Alberta. The Plant remains active and is currently being used to perform co-packing services for a related party, while commissioning equipment and advancing product development initiatives.
Blendcraft by Qwest Launch
Blendcraft by Qwest (“Blendcraft“) is Decibel’s introduction of premium blended pre-rolls into the Canadian market and widens Decibel’s offerings of Qwest products to new consumers who may be experiencing high-end cannabis for the first time. The launch of Blendcraft allows for Decibel to unlock the full value of its harvests while preserving its top end wholesale pricing. Decibel successfully launched Blendcraft in March 2020 and has achieved listings with BC, Alberta, Saskatchewan and Ontario.
Qwest Products Registered in Manitoba
Decibel is pleased to announce it has agreed to terms with Manitoba Liquor & Lotteries to supply Qwest branded flower and pre-rolls to Manitoba retailers. The first shipment to Manitoba retailers is on track to be delivered in April. Qwest products are now registered for sale in six provinces.
Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three production houses operating or under development 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, an 80,000 square foot indoor cultivation facility in Battleford, SK is scheduled to be completed and licensed in 2020. 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, and Blendcraft, into new and innovative product formats like concentrates, vapes, edibles and beyond.
Neither 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 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 development of new products, the timing, construction and licensing of Decibel’s University of Alberta and Palace Theater cannabis retail stores, the timing of Decibel’s first shipment of Qwest products to Manitoba retailers, the timing, construction and licensing of the Thunderchild Cultivation facility, the Company’s ability to grow Qwest, Qwest Reserve and Blendcraft brands into new and innovative product formats and the Company’s ability to execute on the foregoing. 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 the ability to obtain or maintain licences to retail cannabis products; review of the Company’s production facilities by Health Canada and receipt or 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 TSXV, 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.
SOURCE Decibel Cannabis Company Inc.