CALGARY, AB, Might 13, 2021 /PRNewswire/ – Decibel Hashish Firm Inc. (the “Firm” or “Decibel”) (TSX-V:DB) (OTCQB:DBCCF), a premium hashish producer, is happy to supply a company replace concerning document efficiency of its hashish by-product merchandise, operational developments at its Thunderchild facility and different key initiatives.
Hyperlink to Decibel’s Investor Presentation
“We’re increasing our market share within the excessive development premium flower, focus, and vape classes, via our dedication to high quality, innovation, and creating selection for purchasers.” stated Cody Church, Interim Chief Govt Officer of Decibel. “We proceed to execute on our strategic plan with two important inflection factors coming – the launch of our premium hashish 2.0 merchandise and rising our flower capability from 1,800 kg to 9,000 kg over this 12 months.”
To help the manufacturing development and innovation pipeline, Decibel has doubled its gross sales pressure with a deal with the Ontario, BC and Alberta markets to make sure budtenders and retailers are educated on the standard of Decibel merchandise and these merchandise are extremely seen to customers on the level of buy.
Company Replace – Flower
Within the fourth quarter of 2020, Decibel made minor investments in lighting, monitoring, and different instruments to enhance yields throughout the Qwest Property cultivation facility in Creston, BC. The outcomes from this funding have been important in Q1 2021, with whole harvested sellable flower of ~483kg in comparison with the prior quarter of 300kg, a 61% enchancment.
In Q1 2021, throughout British Columbia, Alberta, Saskatchewan, and Ontario, Decibel achieved1:
Thunderchild operations are on monitor with Decibel’s execution timeline to succeed in full run charge manufacturing. The power is integral to Decibel’s rotational technique to ship customers extra selection of high quality grown, uncommon cultivars within the dried flower and pre-roll product classes.
The Thunderchild Facility achieved first income out of the power forward of steerage in March 2021, with first product testing between 23.5 – 26% THC
Company Replace – Concentrates and Vapes
Since January 2021, Decibel has launched 7 SKUs and now has a complete of 29 vape and focus SKUs in leisure markets throughout 5 provinces together with British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario. Trying forward, the Firm anticipates launching over 23 further product SKUs to fulfill its 30 product SKU goal for 2021, together with its extremely anticipated premium branded vapes and concentrates.
In Q1 2021, throughout British Columbia, Alberta, Saskatchewan, and Ontario, Decibel achieved1:
In April 2021, Decibel continued to innovate within the vape class with the launch of its first 100% Stay Resin Vape with its Normal Admission Kootenay Fruit reside resin vape and a brand new flavour of distillate vape with its Normal Admission Rainbow Sherb distillate vape cartridge
In April 2021, Decibel launched into the premium focus class with its first reside, unfastened focus, with its Apricot Kush reside sugar, out there in BC, Alberta and Saskatchewan now and in Ontario in July
Extra Q2 2021 launches upcoming together with further reside resin vapes and reside sugar together with gems & juice (diamonds & sauce)
Company Replace – Working Capital
Decibel is happy to announce that’s has entered into an modification to its dedication letter with Join First Credit score Union Ltd. (“Join First”) in respect of the Firm’s $1.5 million licensed overdraft towards authorities receivables (the “Approved Overdraft”). The Approved Overdraft will improve from $1.5 million to $7.5 million with a dedicated rate of interest of Prime + 1.00% (at present 3.45%). The extra capital will help and speed up Decibel’s continued gross sales development via the Thunderchild cultivation facility and new vape and focus launches. Decibel expects to shut the rise to the Approved Overdraft on or earlier than Might 14th, 2021.
1 HiFyre Retail Analytics, Licensed Producer Gross sales over Time in BC, AB, SK, ON, January 1, 2021 – March 31, 2021
2 HiFyre Retail Analytics, Premium flower market outlined as flower merchandise bought greater than 20% above common promoting value per gram
Decibel is uncompromising within the course of and craftsmanship wanted to ship the very best high quality hashish merchandise and retail experiences. Decibel has three working manufacturing homes together with its wholly owned retail enterprise, Prairie Information. The Qwest Property in Creston, BC is a licensed and working 26,000 sq. foot cultivation area which produces the extensively championed, uncommon cultivar-focused manufacturers Qwest and Qwest Reserve, that are bought in six provinces throughout Canada. Thunderchild Cultivation, is a licensed and working 80,000 sq. foot indoor cultivation facility in Battleford, SK. The Plant, Decibel’s extraction facility, in Calgary, AB has 15,000 sq. toes of Well being Canada licensed extraction and product improvement area. This manufacturing home will gasoline the expansion of our manufacturers Qwest, Qwest Reserve, and Blendcraft, into new and progressive product codecs like concentrates, vapes, edibles and past.
Neither TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this launch.
Ahead Trying Info
This information launch comprises “forward-looking info” and “forward-looking statements” (collectively, “forward-looking statements”) throughout the which means of the relevant Canadian securities laws. All statements, apart from statements of historic reality, are forward-looking statements and are based mostly on expectations, estimates and projections as on the date of this information launch. Any assertion that includes discussions with respect to predictions, expectations, beliefs, plans, projections, targets, assumptions, future occasions or efficiency (usually however not at all times utilizing phrases corresponding to “expects”, or “doesn’t anticipate”, “is predicted”, “anticipates” or “doesn’t anticipate”, “plans”, “price range”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such phrases and phrases or stating that sure actions, occasions or outcomes “could” or “might”, “would”, “may” or “will” be taken to happen or be achieved) usually are not statements of historic reality and could also be forward-looking statements.
On this information launch, forward-looking statements relate to, amongst different issues, the anticipated cut-off date of the rise to the Approved Overdraft, the launch of the Firm’s premium hashish 2.0 merchandise and elevated stream capability, anticipated execution timeline for Thunderchild to succeed in full run charge manufacturing and the outcomes and advantages thereof, the anticipated launch of over 23 further product SKUs and the character thereof, the anticipated improve to the Approved Overdraft and the phrases thereof, the Firm’s means to develop Qwest, Qwest Reserve and Blendcraft manufacturers into new and progressive product codecs, variations and its different enterprise plans and expectations. Ahead-looking statements are essentially based mostly upon various estimates and assumptions that, whereas thought of affordable, are topic to recognized and unknown dangers, uncertainties, and different components which can trigger the precise outcomes and future occasions to vary materially from these expressed or implied by such forward-looking statements. Such components embody, however usually are not restricted to: dangers referring to delays, regulatory adjustments and impacts, capital necessities, development impacts, displacement necessities and unexpected necessities ensuing from the COVID-19 pandemic, the flexibility to acquire and keep licences to retail hashish merchandise; assessment of the Firm’s manufacturing amenities by Well being Canada and upkeep of licences (together with any amendments thereto) from Well being Canada in respect thereof; future legislative and regulatory developments involving hashish; lack of ability to entry enough capital from inside and exterior sources, and/or lack of ability to entry enough capital on beneficial phrases; the labour market usually and the flexibility to entry, rent and retain workers; normal enterprise, financial, aggressive, political and social uncertainties; the satisfaction of situations precedent beneath the Firm’s credit score amenities; timing and completion of development and growth of the Firm’s manufacturing amenities and retail areas; and the delay or failure to obtain board, regulatory or different approvals, together with any approvals of the TSX Enterprise Change, as relevant. There will be no assurance that such statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on the forward-looking statements and data contained on this information launch. Besides as required by legislation, the Firm assumes no obligation to replace the forward-looking statements of beliefs, opinions, projections, or different components, ought to they alter, besides as required by legislation.
These forward-looking statements are made as of the date of this press launch and the Firm disclaims any intent or obligation to replace any forward-looking statements, whether or not because of new info, future occasions or outcomes or in any other case, apart from as required by relevant securities legal guidelines.
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SOURCE Decibel Hashish Firm Inc.