CALGARY,
AB, Aug. 30, 2023 /CNW/ - Decibel
Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB)
(OTCQB: DBCCF), a market leader in premium cannabis and extract
manufactured products, is pleased to announce that it has expanded
its global footprint by entering into a supply agreement (the
"Agreement") to provide premium dried medical cannabis flower to 4C
LABS, a healthcare, technology, and pharmaceutical company focused
on virtual prescribing, pharmaceutical distribution and clinical
development in cannabis based medicinal products for human health
in the United Kingdom and
Channel Islands (the "UK").
Key Highlights
- Decibel to supply 4C LABS with Qwest branded, craft-quality
Medical Cannabis for distribution to UK medical cannabis
patients
- Decibel to grant strain exclusivity of rare and unique
cultivars to be distributed by 4C LABS
- 3-year supply agreement
- Initial shipment expected before year end
- Minimum purchase commitments achieve exclusivity over certain
genetics and QWEST brand in the UK
"We are excited to partner with 4C LABS, a leading organization
in the growing medical cannabis industry in the UK, that echoes
Decibel's commitment to quality and patient care. Not only will
this unlock a strong partnership and a new market for Decibel's
craft cannabis products, it also sets the stage for further growth
into other European markets," said Adam Coates, Chief Revenue
Officer. "Decibel's success with Qwest flower products in
Canada and in Israel's medical market reinforces the demand
for premium cannabis products and the reputation we have built to
service that demand."
"4C LABS is building a patient focused best-in-class product
line for the UK & Channel Islands, the Qwest craft flower line
strengthens the top end of the 4C LABS product offerings. Decibel's
innovative craft quality Qwest flower products will fill an empty
segment in the UK market and bring a world class BC Cannabis
product to UK patients," said Greg Dobbin, CEO 4C LABS.
"Decibel's success in Canada, the
most competitive cannabis market in the world, is a product of hard
work, innovation and attention to detail, qualities that will
resonate with UK patients."
About Decibel
Decibel is a consumer-focused cannabis company focused on
delivering products that delight customers through a commitment to
robust innovation and product quality. Leading brands General
Admission, Qwest, and Vox are among its portfolio sold both across
Canada and beginning to extend
towards new countries to create a global footprint. Decibel
operates a processing and manufacturing facility in Calgary, Alberta, and two cultivation
facilities in Creston, British
Columbia, and Battleford,
Saskatchewan.
About 4C LABS
4C LABS is a patient focused healthcare, technology, and
pharmaceutical company concentrating on virtual prescribing,
pharmaceutical distribution and clinical development in cannabis
based medicinal products ("CBMPs") for human health. 4C LABS is
committed to advancing scientific research, as well as enabling the
regulation, distribution and prescribing of CBPMs in the UK and
Channel Islands. Its work with
leading scientists, specialist physicians, and pharmacists is
underpinned with disruptive technologies that are driving an
approach to treatment that prioritizes patients and evidence over
stigma. 4C LABS works closely with Drug Science, the Cannabis
Industry Council (CIC), The Medicines and Healthcare Products
Regulatory Agency (MHRA) and the Care Quality Commission (CQC) to
catalyze safe, regulated change in the medical landscape. 4C LABS
is fully licensed in the UK with MS WDA, Schedule 1 Narcotics and
Production licenses.
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.
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 timing of the initial shipment;
expectations with respect to the impact the Agreement will have on
the Company's business; expectations regarding international
markets and the Company's position therein; the Company's
ability to grow its brands into new and innovative territories as
well as product formats, variations and 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: satisfaction of all international regulatory
requirements, including applicable product testing; risks
relating to delays; other regulatory changes and impacts; capital
requirements; construction impacts; displacement requirements;
global macro-economic events, conditions and factors; the ability
to obtain and maintain licenses to retail cannabis products; review
of the Company's production facilities by Health Canada and
maintenance of licenses (including any amendments thereto) from
Health Canada in respect thereof; future legislative and regulatory
developments involving cannabis, international export rules and
regulations; 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; 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.