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.
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SOURCE Decibel Cannabis Company Inc.
