Decibel Cannabis Company: Defining the Ultimate Expression of Cannabis
CALGARY, March 2, 2020 /CNW/ - Westleaf Inc. (the "Company" or "Decibel Cannabis Company Inc.") (TSX-V:WL) (OTCQB:WSLFF) announces today that following the filing of Articles of Amendment with the Alberta Corporate Registry on March 1, 2020, the Company is now named and will be operating as Decibel Cannabis Company Inc ("Decibel"). The comprehensive rebrand marks a new chapter in the evolution of the organization and brings together the Westleaf and We Grow businesses under one name, shared vision, and a visual brand identity that reflects our mission to define the ultimate expression of cannabis.
The common shares of the Company are anticipated to commence trading under its new name on the TSX Venture Exchange ("TSXV") under the ticker symbol DB within two business days following the issuance of a bulletin by the TSXV (with its ticker changing on the OTCQB once final regulatory approvals are received). The Decibel rebrand will be reflected on the Company's new website at www.decibelcc.com.
"Decibel is a culmination of two companies committed to creating quality products and experiences beyond the ordinary. This rebrand reflects our ongoing dedication to craftsmanship, precision and fiscal discipline to deliver profitability in the cannabis industry", said Benjamin Sze, President and CEO of Decibel. "Our team is focused on raising the bar in every facet of the organization, as proven today with the launch of our rebrand, which was conceptualized, developed and executed entirely by our talented employees internally."
The Decibel Business
- Core focus on premium cannabis and introducing rare cultivars to the market.
- Three production houses that deliver craftsmanship and master the fundamentals of cannabis production:
- Qwest Estate in Creston, BC – Produces premium flower that yields among the highest realized prices per gram in the industry, under Qwest, Qwest Reserve and the recently announced Blendcraft by Qwest brands (collectively "Qwest House Brands").
- Thunderchild Cultivation in Battleford, SK – Expected to complete Phase 1 construction in April 2020 and once fully operational, is expected to produce up to 7300kg of premium flower under Qwest House Brands.
- The Plant Manufacturing Facility in Calgary, AB – Currently holds a Health Canada processing license, and upon receipt of a sales license, will expand Qwest House Brands' offerings into Cannabis 2.0 derivative products.
- Prairie Records Retail – A differentiated and immersive retail experience that allows Decibel to creatively execute and market its brands. Prairie Records gives Decibel direct access to consumers improving brand recognition and understanding of consumer trends and preferences.
About Decibel Cannabis Company
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 five 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 by Qwest, into new and innovative product formats like concentrates, vapes, edibles and beyond.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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 when the Company will commence trading under the Company's new OTCQB trading symbol, the availability of the Company's new corporate website and related materials, the development of new products, the timing and quality of the Company's launch of "Blendcraft by Qwest", the Company's receipt of a sales license at the Plant Manufacturing Facility, the timing and the construction of the Thunderchild Cultivation facility and its expected levels of production, the ability of the Thunderchild Cultivation facility to produce certain products and product formats, and the Company's ability to execute on the foregoing. 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 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 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 TSXV, 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.
SOURCE Decibel Cannabis Company Inc.
For further information: Contact Adam Coates, [email protected], 416.459.6306, www.decibelcc.com