CALGARY, AB, Oct. 22, 2020 /CNW/ - Decibel Cannabis
Company Inc. (the "Company" or "Decibel") (TSX-V:DB) (OTCQB:DBCCF),
a premium cannabis producer and retailer, is pleased to announce
the launch of cannabis derivative products produced at its
extraction facility, The Plant.
"Our product strategy is driven by our intimate knowledge of the
end consumer through our Prairie Records retail stores," said
Adam Coates, Chief Growth Officer of
Decibel. "This position allows for insights such as identifying
whitespace opportunities the current market is not fulfilling, and
understanding key product attributes consumers are looking for in
established formats. With these insights, we are launching black
market quality concentrates, high potency, strain specific vapes
and the CÜE line of fast acting 10mg THC shot style beverages."
Product Launch Highlights
- 10 Product Skus Launched: Achieved its first 57 product
sku registrations in Western
Canada and a supply agreement with the Ontario Cannabis
Retail Corporation, with 10 skus currently available in cannabis
retail stores across British
Columbia, Alberta and
Saskatchewan. The first shipments
of products were delivered in late Q3.
- Blendcraft by Qwest Concentrates: Decibel's first
derivative product launches under the Blendcraft by Qwest banner
with 4 skus of Wax (crumble) and 4 skus of Shatter. These high
potency, in demand concentrates compliment the rare cultivar, craft
dried flower products the Company produces under the Qwest Family
of Brands.
- General Admission Vapes: Decibel has launched its new
brand, General Admission, with four strain specific vapes (Berry G
33, Tropic GSC, Lemon Ice and Tropic Thunder) in 0.45g and 0.95g
cartridges, and 0.3g disposable formats. With high potency THC
dominant and THC/CBD balanced formulations and a strong
value-for-price ratio, first shipments of these products have been
successful with re-orders from initial product shipments achieved
within the first week of launch.
- CÜE Fast Acting Cannabis Shots: The Company has entered
into a definitive agreement with Origin Scientific Inc., a private
Canadian company, to manufacture and distribute CÜE fast acting
cannabis shots. CÜE has developed an industry leading, clinically
proven and patented nano encapsulation technology that has been
formulated into a fast-acting cannabis infused shot style beverage.
"CÜE Lemon Tea", a 59ml cannabis shot with 10mg of THC and 30mg of
naturally occurring caffeine is expected to be the initial product
offering, which the Company anticipates to be available for sale in
November.
About Decibel
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 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, the Company's expectations regarding
the timing of the launch of "CÜE Lemon
Tea", 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, 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 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 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.