CALGARY, AB, June 22, 2021 /CNW/ - Decibel Cannabis Company
Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a
premium cannabis producer, is pleased to announce the
appointment of Paul Wilson as its
Chief Executive Officer, effective Wednesday, June 23rd.
Emphasizing the Company's objective for brand growth, Mr. Wilson
brings CEO and President level experience from some of Canada's top consumer brands and is currently
a member of Decibel's board of directors. Mr. Wilson served as CEO,
President, EVP, and Officer for consumer businesses, including
leadership roles at Canadian Tire, Mark's, Princess Auto, Spence
Diamonds and Alcanna Nova Cannabis. As an experienced brand
builder, Mr. Wilson has a consistent winning record in sectors
ranging from hard goods to apparel and in formats ranging from
start-ups and small chains to department stores and national
chains.
"We are excited to continue our momentum with this key
appointment. We were intent on adding a CEO who would complement
our existing strategy and excellent management team" said
Cody Church Chairman and interim CEO
of Decibel. "The appointment follows a long and intensive search
process that considered exceptional internal and external
candidates. The focus of the search reflected the priorities of
Decibel and the characteristics needed to address them. With Paul,
we have selected a strategic leader and brand builder, with Decibel
experience at the Board level."
Paul Wilson commented "the
Canadian cannabis industry is now coming together with the
appropriate balance of resources to serve consumers. Decibel has
done an exceptional job establishing premium brands like Qwest and
Qwest Reserve, with production and supply capability to fulfill a
significant segment of the rapidly evolving marketplace. I'm
excited to be a part of this brand and this team, with a mandate to
further strengthen and increase the value our shareholders have
recognized."
"I'd also like to thank the board of directors for its
confidence and more importantly acknowledge the existing management
team at Decibel who have established and grown our portfolio of
brands as market leaders", added Mr. Wilson.
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, processing
and distribution space which produces the widely championed, rare
cultivar-focused brands Qwest and Qwest Reserve, which are sold in
six provinces across Canada. The
Thunderchild Cultivation Facility, is a licensed and operating
80,000 square foot indoor cultivation facility in Battleford, SK. The Plant, Decibel's
extraction, processing and manufacturing 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 its
ability to bring a significant pipeline of new and
innovative products to the market, 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.