CALGARY, AB, Oct. 22, 2020 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSX-V:DB) (OTCQB:DBCCF), a premium cannabis producer and retailer, is pleased to announce the launch of cannabis derivative products produced at its extraction facility, The Plant.
"Our product strategy is driven by our intimate knowledge of the end consumer through our Prairie Records retail stores," said Adam Coates, Chief Growth Officer of Decibel. "This position allows for insights such as identifying whitespace opportunities the current market is not fulfilling, and understanding key product attributes consumers are looking for in established formats. With these insights, we are launching black market quality concentrates, high potency, strain specific vapes and the CÜE line of fast acting 10mg THC shot style beverages."
Product Launch Highlights
- 10 Product Skus Launched: Achieved its first 57 product sku registrations in Western Canada and a supply agreement with the Ontario Cannabis Retail Corporation, with 10 skus currently available in cannabis retail stores across British Columbia, Alberta and Saskatchewan. The first shipments of products were delivered in late Q3.
- Blendcraft by Qwest Concentrates: Decibel's first derivative product launches under the Blendcraft by Qwest banner with 4 skus of Wax (crumble) and 4 skus of Shatter. These high potency, in demand concentrates compliment the rare cultivar, craft dried flower products the Company produces under the Qwest Family of Brands.
- General Admission Vapes: Decibel has launched its new brand, General Admission, with four strain specific vapes (Berry G 33, Tropic GSC, Lemon Ice and Tropic Thunder) in 0.45g and 0.95g cartridges, and 0.3g disposable formats. With high potency THC dominant and THC/CBD balanced formulations and a strong value-for-price ratio, first shipments of these products have been successful with re-orders from initial product shipments achieved within the first week of launch.
- CÜE Fast Acting Cannabis Shots: The Company has entered into a definitive agreement with Origin Scientific Inc., a private Canadian company, to manufacture and distribute CÜE fast acting cannabis shots. CÜE has developed an industry leading, clinically proven and patented nano encapsulation technology that has been formulated into a fast-acting cannabis infused shot style beverage. "CÜE Lemon Tea", a 59ml cannabis shot with 10mg of THC and 30mg of naturally occurring caffeine is expected to be the initial product offering, which the Company anticipates to be available for sale in November.
Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three production houses operating or under development 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, an 80,000 square foot indoor cultivation facility in Battleford, SK is scheduled to be completed and licensed in 2020. 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, and Blendcraft, 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.
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 expectations regarding the timing of the launch of "CÜE Lemon Tea", the timing, construction and licensing of the Thunderchild Cultivation facility, 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 or maintain licences to retail cannabis products; review of the Company's production facilities by Health Canada and receipt or 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; 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. 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.
SOURCE Decibel Cannabis Company Inc.