"We've strongly positioned ourselves to succeed in the vape and concentrate market in
"We continue to differentiate ourselves not only in our product strategy, but also as one of the few cannabis companies showing profitable results in the third quarter of 2020. We have remained steadfast that sustainable and profitable growth is one of our primary goals." added
Business Update
Since
- First branded derivative product shipment to
Manitoba completed in February - Across
British Columbia ,Alberta , andSaskatchewan , four months into its product launches, Decibel has achieved1: - #1 in concentrate sales under its Blendcraft by Qwest brand in the last 60 days
- #3 in vape sales under its General Admission brand in the last 60 days
- In
Ontario , one month into its product launches, Decibel has achieved2: - #3 in concentrate sales under its Blendcraft by Qwest brand
- #8 in vape sales under its General Admission brand
After receiving its latest cultivation license, operations are well underway at Decibel's Thunderchild facility – a facility which is critical to Decibel's long term strategic growth plan and will deliver consumers more choice of quality grown, rare cultivars in the dried flower and pre-roll product categories.
- Qwest flower products achieve some of the highest prices in
Canada (Q3'20 -$10.18 / gram) - Through its combined facilities, Decibel will be launching 6 – 10 new genetics over the next year, including Stuffed French Toast and Sunset MAC coming soon
- Decibel's Qwest flower products remain in short supply and have been out of stock in key provincial markets due to high consumer demand for its flower products
- Thunderchild increases capacity from 1,800 kilograms to more than 9,000 kilograms
- Four flower rooms already planted and at various stages (20% of total facility planted)
- Thunderchild first revenue expected Q2 2021
1 HiFyre Retail Analytics, Licensed Producer Sales over Time in | |
2 HiFyre Retail Analytics, Licensed Producer Sales over Time in ON, |
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.
Neither
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 Company's expectations regarding its ability to bring a significant pipeline of new and innovative products to the market, expected number of grow rooms at Thunderchild at the timing of the first revenue therefrom, 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
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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