CALGARY, AB, Jan. 17, 2022 /CNW/ - Decibel Cannabis
Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB:
DBCCF), a premium cannabis producer, is pleased to provide an
update on its recent Canadian recreational market share.
"With our debt refinancing now in place, we remain on the
offense, growing revenue and closing 2021 with record market share
driven through our core focus to elevate our consumer experience
through quality combined with new, unique and innovative products"
said Paul Wilson, Chief Executive
Officer of Decibel. "With a strong foundation established through
efforts in 2021, and impactful 2022 catalysts, we are well
positioned to continue our strong revenue and market share
growth."
|
Jan.
2021
|
Nov.
2021
|
Dec.
2021
|
Canada1
|
2.6%
|
3.3%
|
3.4%
|
Major
Markets1
|
3.3%
|
4.0%
|
4.2%
|
Ontario1
|
1.1%
|
3.1%
|
3.1%
|
Market Share in Decibel's Major Markets1
- Record 4.2% recreational market share in December from 3.3% at
the start of 2021
-
- #1 brand in premium flower sales with a 10.3% market
share2
- #2 brand in concentrate sales with a 10.1% market share
- #2 brand in vape sales with a 13.1% market share
National Market Share1
- The Canadian recreational market has grown from approximately
$279 million to $370 million from January to December 20211
-
- Decibel's market share has grown from 2.6% to 3.4% over the
same period
- #3 brand in premium flower sales with an 8.6% market
share2
- #2 brand in concentrate sales with an 8.1% market share
- #2 brand in vape sales with a 12.9% market share
Ontario Market Share1
- Tripled market share from January to December 2021 with a record 3.1% in December
-
- #2 brand in premium flower sales with a 9.0% market
share2
- #5 brand in concentrate sales with a 5.8% market share
- #2 brand in vape sales with a 10.8% market share
Link to Decibel's Investor Presentation
1 HiFyre
Retail Analytics, Licensed Producer Sales over Time Nationally and
in BC, AB, SK, ON, January 1 – December 31, 2021. Major Markets
include BC, AB, SK, ON.
|
2 HiFyre
Retail Analytics, Premium flower market defined as flower products
sold more than 20% above average selling price per gram in 7g or
under size formats.
|
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, Blendcraft, and General Admission, into new and innovative
product formats like concentrates, vapes, edibles and beyond.
www.decibelcc.com
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 business plans and strategies,
including 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;
counterparty risk; 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.
This news release also contains future-oriented financial
information and financial outlook information (collectively,
"FOFI") about the Company's prospective results of operations
including, without limitation, its expectation that it is well
positioned to continue its revenue and market share growth. Readers
are cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on FOFI. The Company's actual results,
performance or achievement could differ materially from those
expressed in, or implied by, the FOFI and are subject to the risks
set forth above. The Company has included the FOFI in order to
provide readers with a more complete perspective on the Company's
future operations and such information may not be appropriate for
other purposes.
These forward-looking statements and FOFI are made as of the
date of this press release and, except as required by law, the
Company assumes no obligation to update the forward-looking
statements, FOFI or beliefs, opinions, projections, or other
factors, should they change.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/decibel-announces-another-month-of-record-market-share-in-december-301461632.html
SOURCE Decibel Cannabis Company Inc.