CALGARY,
AB, Dec. 10, 2024 /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 the results of its
annual and special meeting of shareholders held on December 10, 2024 (the "Meeting"). At the
Meeting, Decibel's shareholders approved all matters submitted by
the Company for consideration as set forth in the Company's notice
of annual and special meeting of shareholders and accompanying
management information circular and proxy statement dated
November 6, 2024 (the
"Circular").
New Stock Option Plan
At the Meeting, the shareholders approved the adoption of a new
10% rolling stock option plan (the "New Plan"), as
described in the Circular, which includes, among other things, the
ability for net and cashless exercise of options, which replaces
the Company's previous stock option plan (the "2018 Option
Plan") and is aligned with TSX Venture Exchange Policy 4.4 –
Security Based Compensation. The New Plan limits the total
number of common shares of the Company that may be issued on
exercise of stock options outstanding at any time to 10% of the
number of common shares issued and outstanding. All outstanding
stock options under the 2018 Option Plan will remain outstanding
and in full force and effect in accordance with their terms.
However, no additional grants will be made pursuant to the 2018
Option Plan and the 2018 Option Plan will terminate on the date
upon which no stock options remain outstanding pursuant to its
terms. All future grants of stock options will be subject to the
rules and restrictions of the New Plan. The New Plan was
conditionally approved by the TSX Venture Exchange. A copy of
the New Plan was included as Schedule "C" to the Circular, which
has been filed on the Company's profile on SEDAR+ at
www.sedarplus.ca.
Board Committees
Subsequent to the Meeting, Shawn
Dym, Nadia Vattovaz and Jakob
Ripshtein have been appointed and agreed to serve on the
Corporation's committees, with Ms. Vattovaz to serve as chair of
the Company's Audit Committee, and Mr. Ripshtein to serve as chair
of its Governance, Compensation and Nominating Committee.
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, two cultivation facilities
in Creston, British Columbia and
Battleford, Saskatchewan, and an
EUGMP licensed cultivation and processing facility in Chatham, Ontario.
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 news release.
Cautionary Statements
Forward-Looking Statements
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, receipt of all regulatory approvals, including
Decibel's business plans generally, and specifically the creation
of a global footprint and ability to delight customers through a
commitment to robust innovation and product quality. 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.
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: the Company's ability to access sufficient capital from
internal and external sources, and/or inability to access
sufficient capital on favourable terms. Many of these risks and
uncertainties and additional risk factors generally applicable to
the Company are described in the Company's management's discussion
and analysis for the three and nine months ended September 30, 2024 and 2023, which are available
under the Company's profile at www.sedarplus.ca.
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, developments or otherwise unless so required by applicable
securities laws.
SOURCE Decibel Cannabis Company Inc.
