CALGARY, AB, June 17, 2021 /CNW/ - Decibel Cannabis
Company Inc. (the "Company" or "Decibel") (TSX-V: DB) (OTCQB:
DBCCF), a premium cannabis producer, is pleased to announce the
launch of its high-end concentrate brand, "Pressed by
Qwest", and new dried flower, pre-roll, vape, and concentrate
products.
"The launch of Pressed by Qwest marks our first step into the
premium concentrate category, mirroring our approach with Qwest in
dried flower, we are bringing rare cultivars, high-standard craft
quality, and choice to consumers." said Cody Church, Interim Chief Executive Officer of
Decibel. "Our strategic focus remains on expanding our market share
as we launch our premium cannabis 2.0 products and increasing our
flower capacity from 1,800 kg to 9,000 kg over this year."
New Flower Products
In the second half of 2021, Decibel will launch a brand-new set
of rare cultivars under the Qwest and Qwest Reserve brands.
Frequent rotation of unique genetics that deliver high THC,
terpenes and exceptional taste and effect is core to the Qwest
Family of Brands product strategy. The Company expects to
launch seven new cultivars in 2021 as well as, a new high THC,
pre-milled flower product under the Blendcraft by Qwest Brand.
Qwest Family of Brands
Within the next month Decibel will begin the roll out of its new
cultivar and dried flower program across all registered
provinces:
- Qwest Reserve Sunset MAC a cross of Sunset Sherbet and MAC1
with the first lot at 28.5% THC
- Qwest Stuffed French Toast a cross of Cookies & Cream and
French Toast with the first lot at 24% THC
- Blendcraft by Qwest milled flower bag that includes a blend of
cultivars with a THC range of 23 – 29%
General Admission
- Entry into the pre-roll category with two SKUs, with General
Admission Kootenay Fruit large format, multi-packs
Thunderchild operations are tracking well, and quality remains
at Qwest standards as Decibel works towards reaching full run rate
production. Early-stage harvests have been slightly above
management expectations for yield and harvested crops have tested
between 24% – 28.5% THC. Notable operational highlights
include:
- Completed the eighth harvest since commencement of
operations
- 10 of 20 grow rooms planted and at various stages of
cultivation (50% of total facility planted)
- Anticipating run rate of eight harvests per month from the
Thunderchild facility by August
2021
New Vape and Concentrate Products
Decibel is committed to consistent innovation and premiumization
in the concentrate and vape categories. The launch of Pressed
by Qwest, a concentrate focused brand under the Qwest Family of
Brands, allows Decibel to have a format focused brand, concentrate
consumers can trust to deliver exceptional quality.
Pressed by Qwest
In June and July, Decibel will begin its roll out of premium
live concentrates under Pressed by Qwest across all registered
provinces:
- Purple Papaya Gems & Juice (aka. Diamonds & Sauce)
- Apricot Kush Gems & Juice (aka. Diamonds & Sauce)
- Apricot Kush Live Sugar
General Admission
Despite launching early Q4'20, General Admission has achieved
10% market share in Q1'21 through consistent, consumer insight led
innovation at approachable pricing. Live resin vapes will
lead premiumization in the vape category with General Admission at
the forefront.
- Kootenay Fruit Live Resin Vape launched in AB, BC, SK in May,
and ON in July
- Guava Chemdawg Live Resin Vape launching in July
Link to Decibel's Investor Presentation
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, 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 product release expectations and
plans, the anticipated increase to the Company's flower capacity
and the timing thereof, Decibel's launch a of brand-new set of rare
cultivars under the Qwest and Qwest Reserve brands and the timing
thereof, the Company expectation that it will launch seven new
cultivars in 2021 as well as, a new high THC, pre-milled flower
product under the Blendcraft by Qwest
Brand, the Company's expectation that, within the next
month, Decibel will begin the roll out of it's new cultivar and
dried flower program across all registered provinces, the
anticipated run rate of harvests per month from the Thunderchild
facility by August 2021, that Decibel
will begin its roll out of premium live concentrates under Pressed
by Qwest across all registered provinces and the timing thereof,
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.