CALGARY,
AB, Nov. 21, 2022 /CNW/ - Decibel Cannabis
Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB:
DBCCF), announces the timing of its annual general meeting (the
"Meeting") of holders of common shares (the "Shareholders") of the
Company will be held at 4:00pm
(Calgary Time) on Friday, December 9,
2022 (the "Meeting"). The management information circular
related to the Meeting was mailed to Shareholders on November 18th and is also publicly
available on Decibel's SEDAR page.
"We are launching the next chapter of the Decibel story with an
exceptional new group of experienced cannabis and CPG board members
who will create immense value for the Decibel shareholders", said
Cody Church current Chairman of
Decibel. "I would like to sincerely thank Mike Kelly and Ivan
Casselman for their tireless work and outstanding
contributions over the last few years and as we transition off the
board, we would like to thank Decibel for the opportunity to be
part of this great story", said Church.
"Decibel is very excited by the proposed slate of directors. We
are very fortunate to have attracted such an accomplished group,
all with notable cannabis pedigrees. This is a testament to
Decibel's success and most importantly our obvious potential", said
Paul Wilson, Chief Executive Officer
of Decibel.
New Director Nominees
Paul
Wilson (CEO)
Paul is currently a director and CEO of Decibel. Prior to
joining Decibel, Paul 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.
Manjit
Minhas
Manjit has significant CPG expertise, having co-founded the
Minhas Brewery, Distillery and Winery with over 90 brands of beers,
spirits liqueurs and wines. Her products are sold in 5 provinces as
well as 47 states throughout the USA and 16 other countries. She also appears
as a television personality on the Canadian reality series,
Dragon's Den, where she has invested in dozens of Canadian
businesses. Manjit also has specific cannabis industry experience
as a former member of the board of directors of Inner Spirit
Holdings Ltd (Spiritleaf).
Shawn
Dym
Shawn is an early investor and strategic thought leader in the
North American cannabis industry. As an early investor in Aphria,
he served on their board until November
2019. In addition, he co-founded and serves as an advisor to
the board of Green Acre Capital (Canada's largest cannabis private investment
fund) and serves as a director of Humble & Fume Inc. ("Humble
& Fume"), a leading North American distributor of cannabis
products. He currently oversees the investment and growth of his
personal holding company.
Jakob Ripshtein
Jakob is the Chief Executive Officer of Perennial Brands Inc, a
full life-cycle brand strategy organization. He was formerly the
President of Aphria and held multiple roles at Diageo PLC including
CFO of Diageo North America. In June
2021 Jakob joined Humble & Fume, as Chairman of the
Board. He also serves on the Audit Committee and Compensation and
Corporate Governance Committee of Humble & Fume.
Nadia
Vattovaz
Nadia is CFO and Head of Logistics for Sporting Life Group. Her
experience includes launching and overseeing new
multi-jurisdictional companies and business lines, extensive
M&A, leading the execution of complex multi-functional
initiatives, transformation and navigating regulatory environments.
Prior to her current role, Nadia was the COO of Fire & Flower,
a cannabis retailer with over 100 locations across Canada, and held senior finance roles at Holt
Renfrew, Canadian Tire, and Maple Leaf Foods.
Decibel would like to thank all of the directors not standing
for re-election for their efforts in helping the Corporation
achieve its success to date.
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 the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) 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, Decibel's expectations regarding future
appointment and success of its director nominees; that Decibel and
the Shareholders will be positively affected by the appointment of
such director nominees; and that Decibel's production house will
fuel the growth of its brands Qwest, Qwest Reserve, Blendcraft, and
General Admission, into new and innovative product formats like
concentrates, vapes, edibles and beyond..
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; timing and
completion of construction and expansion of the Company's
production facilities and retail locations; the risk that the
Company may not remain in compliance with all of its financial
covenants for the remainder of its twelve-month forecast period;
and the delay or failure to receive board, regulatory or other
approvals, including any approvals of the TSXV, as applicable. Many
of these risks and uncertainties and additional risk factors are
described in the Company's Annual Information Form and Management's
Discussion and Analysis for the year ended December 31, 2021, which are available at
www.sedar.com.
With respect to forward-looking statements contained in this
press release, Decibel has made assumptions regarding, but not
limited to: Decibel's ability to raise additional capital and to
execute on its plans; the timelines for new product launches,
Decibel's ability to continue investing in infrastructure and
implement scalable controls, systems and processes to support its
growth; the impact of competition; the changes and trends in
Decibel's industry or the global economy; the Company's ability to
generate sufficient cash flow from operations and obtain financing,
if needed, on acceptable terms or at all; the general economic,
financial market, regulatory and political conditions in which the
Company operates; the ability of the Company to ship its products
and maintain supply chain stability; consumer interest in the
Company's products; anticipated and unanticipated costs; government
regulation of the Company's activities and products; the timely
receipt of any required regulatory approvals; the Company's ability
to conduct operations in a safe, efficient and effective manner;
the Company's construction plans and timeframe for completion of
such plans; and the changes in laws, rules, regulations, and global
standards.
Readers are cautioned that the foregoing list of assumptions
and risk factors is not exhaustive. The forward-looking statements
contained herein are expressly qualified in their entirety by this
cautionary statement. The forward-looking statements included in
this news release are made as of the date hereof and Decibel does
not undertake any obligation to publicly update such
forward-looking statements to reflect new information, subsequent
events or otherwise unless so required by applicable securities
laws. 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.