CALGARY,
AB, Oct. 4, 2022 /CNW/ - Decibel Cannabis
Company Inc. (the "Company" or "Decibel") (TSX-V: DB) (OTCQB:
DBCCF), a premium cannabis producer, is pleased to announce it has
secured an on-going supply agreement with Breath of Life
International Ltd. ("Breath of Life" or "BOL") to launch Decibel's
Qwest brand and cannabis products in Israel. The supply agreement is for
$4.8 million of premium cannabis
product, with the first shipment expected in the fourth
quarter.
"We are excited to partner with Breath of Life, a leading
licensed producer with extensive distribution presence, in the
Israel market, that echoes
Decibel's commitment to quality. Not only will this unlock a strong
partnership and a new market for Decibel's craft cannabis products,
it also sets the stage for the Qwest brand to develop international
recognition and additional consumer exposure," said Adam Coates, Chief Revenue Officer. "As
international cannabis markets expand, we've seen a clear demand
for premium and consistent quality. To be recognized by
international cannabis companies and consumers is exceptionally
gratifying for Decibel. This is the first step into international
markets, with more to come."
"The Decibel team and Qwest brand have a reputation for the
highest quality cannabis products, premium positioning as well as,
favoured status with Canadian cannabis connoisseurs. With a growing
demand in the international market for higher quality, Canadian
made cannabis, Qwest was the natural choice and we are excited to
partner with Decibel" said Breath of Life CEO, Kfir Avraham.
Key Highlights
- On-going arrangement for the expansion of the Qwest brand to
first international market
- Initial $4.8 million supply
agreement with first shipment expected to be delivered in Q4
2022
- Partnership with the premier cannabis company in Israel with significant entrenched
distribution channels
"The Qwest brand enjoys popularity in the Canadian premium
market, and also global awareness as legalized cannabis markets
develop." Said Paul Wilson, CEO of
Decibel. "As Decibel continues to experience record performance in
Revenue, EBITDA, gross margin and market share, the combination of
a stable growing Canadian LP with a dominant premium brand
attracted international business attention and opportunity. We are
thrilled to partner with BOL and look forward to a long
relationship."
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, that 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, and Blendcraft, into new and innovative product formats
like concentrates, vapes, edibles and beyond.
About Breath of Life
Breath of Life has been pioneering the creation of the medical
cannabis industry in Israel since
2007 in innovation, development and product quality. BOL is a
leader in the fields of growing, marketing, and distributing
medical cannabis in Israel. The
company's sales strategy relies on deep understanding of the
Israeli consumer taste and exclusive marketing rights of top global
cannabis brands. BOL is committed to serving patients with quality
products that will further improve their quality of life. In
parallel, BOL is pursuing its development programs for
cannabis-based wellness products.
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 financial impact of the BOL supply
agreement; expectations with respect to the impact the BOL
supply agreement will have on the Company's business; expectations
regarding international markets and the Company's position therein;
the Company's expectations with respect to the future growth of key
financial measures; the Company's ability to grow its brands
into new and innovative 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;
unforeseen requirements resulting from the COVID-19 pandemic and
other 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; 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.
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SOURCE Decibel Cannabis Company Inc.