Decibel Announces 27 New Upcoming Ontario Product Launches

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Sep 22, 2021, 08:00 ET

CALGARY, AB, Sept. 22, 2021 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce its recent success in the Ontario product call as well as upcoming Ontario product launches with 27 new product introductions over the coming months.

"With our $15 million oversubscribed equity financing now closed, we are now positioned for Decibel's next stage of growth through high return on capital investments, which expand our capacity and gross margins, as well as accelerating our already robust 2022 product pipeline." said Paul Wilson, Chief Executive Officer of Decibel. "We remain focused on expanding our market share as we fully realize the impact of our 2021 growth initiatives in the fourth quarter."

"We are committed to continuously raising the bar when it comes to innovation and bringing choice to consumers, through high-standard craft quality, unique product formats, and rare cultivars" said Warren Matzelle, Senior Vice President, Product Innovation of Decibel. "We endeavor to continue to be category innovators and craft our strategy around cannabis culture and consumers."

New Products – Flower (14 Products)

Qwest Family of Brands

With volumes from its Thunderchild cultivation facility now approaching run-rate production (which is anticipated by mid-Q4), for the first time in the Company's history, Decibel will have its full flower offerings available and in steady supply in the Ontario market.

Decibel has secured the following product listings in Ontario:

6 new jarred SKUs including four Qwest cultivars and two Qwest Reserve cultivars
6 new pre-roll SKUs including four Qwest cultivars and two Qwest Reserve cultivars
1 new blended milled flower SKU under Blendcraft by Qwest

General Admission

Decibel continues to expand General Admission's category offerings based on its strong brand equity created initially in the vape category. Recently, in Western Canada, General Admission's first large format pre-roll product experienced early success and will now be brought to the Ontario market.

Decibel has secured the following product listings in Ontario:

1 new large format pre-roll SKU under General Admission

New Products – Vapes & Concentrates (13 Products)

Pressed by Qwest

The Company continues to expand Qwest, with its reputation for premium flower, into the premium concentrate category, with another 6 Pressed by Qwest products listed and ready for launch.

Decibel has secured the following product listings in Ontario:

4 new product SKUs including new Gems & Juice and Live Sugar cultivars
2 new product SKUs of Pressed by Qwest's new solventless Cold Cure Liven Rosin

General Admission

General Admission continues to broaden its product offering in the vape category as one of the top 3 vape brands in Canada, through consistent, consumer insight led innovation at approachable pricing.

Decibel has secured the following product listings in Ontario:

7 new product SKUs including new flavours of Distillate and Live Resin vapes, and a new and innovative product format under the General Admission brand

Link to Decibel's Investor Presentation

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 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.

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, the anticipated upcoming Ontario product launches, including the number and timing thereof, the anticipated returns on the Company's capital investments, the Company's business plans and strategies, the date by which Thunderchild is anticipated to reach run-rate production and 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 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; 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.

This press release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about the Company's prospective results of operations including, without limitation, its expected return on capital investments and gross margins, which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth above. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on FOFI. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these FOFI, or if any of them do so, what benefits the Company will derive therefrom. The Company has included the FOFI in order to provide readers with a more complete perspective on the Company's future operations and such information may not be appropriate for other purposes.

These forward-looking statements and FOFI are made as of the date of this press release and, except as required by law, the Company assumes no obligation to update the forward-looking statements, FOFI or beliefs, opinions, projections, or other factors, should they change.

SOURCE Decibel Cannabis Company Inc.