CALGARY, AB, Feb. 16, 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.
"Our market share growth continues to gain momentum, driven by
the superior experiences that our brands and products offer to our
customers, coupled with a focus on bringing new, unique and
innovative products to market" said Paul
Wilson, Chief Executive Officer of Decibel. "With a strong
footing established early this year, we are confident in
maintaining and accelerating this pace of growth, through
additional product launches, entry into new markets, and
operational efficiency gains acting as catalysts to drive
shareholder value this year."
Market Share Summary
|
Jan.
2021
|
Nov.
2021
|
Dec.
2021
|
Canada1
|
3.3%
|
3.4%
|
3.6%
|
Major
Markets1
|
4.0%
|
4.2%
|
4.3%
|
Ontario1
|
3.1%
|
3.1%
|
3.2%
|
Market Share in Decibel's Major Markets1
- Record 4.3% recreational market share in January over 4.2% in
December 2021
-
- #1 brand in premium flower & pre-roll sales with a 9.1%
market share2
- #2 brand in concentrate sales with an 8.9% market share
- #2 brand in vape sales with a 12.8% market share
National Market Share1
- Decibel's market share has grown from 3.4% to 3.6% over the
same period
-
- #1 brand in premium flower & pre-roll sales with an 7.7%
market share2
- #3 brand in concentrate sales with an 7.3% market share
- #2 brand in vape sales with a 12.6% market share
Ontario Market Share1
- Decibel's market share has grown from 3.1% to 3.2% over the
same period
-
- #3 brand in premium flower & pre-roll sales with a 7.4%
market share2
- #8 brand in concentrate sales with a 4.1% market share
- #2 brand in vape sales with a 11.4% market share
Link to Decibel's Investor Presentation
1
|
HiFyre Retail
Analytics, Licensed Producer Sales over Time Nationally and in BC,
AB, SK, ON, November 1, 2021 – January 31, 2022. Decibel's Major
Markets consist of BC, AB, SK, ON.
|
2
|
HiFyre Retail
Analytics, Premium flower and pre-roll market defined as flower
products sold more than 20% above average selling price per
gram.
|
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.
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: that Decibel is well positioned to continue
its revenue and market share growth, 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 news 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-a-third-consecutive-month-of-record-market-share-in-january-301483579.html
SOURCE Decibel Cannabis Company Inc.