OTC-QB:DBCCF

Decibel Announces Year End and Fourth Quarter Results

Retrieved on: 
Monday, April 29, 2024
The Company, Marketing, Cannabis, AB, Decibel, Growth, Bank

Gross Margin Before Fair Value Adjustments was 45% in the fourth quarter of 2023, compared to 43% in the fourth quarter of 2022.

Key Points: 
  • Gross Margin Before Fair Value Adjustments was 45% in the fourth quarter of 2023, compared to 43% in the fourth quarter of 2022.
  • Adjusted EBITDA(1) of $5.1 million in the fourth quarter of 2023, with a year over year decline of 27% over the fourth quarter of 2022.
  • Adjusted Net Income(1) of negative $132 thousand in the fourth quarter of 2023, with a decline of $1.9 million over the fourth quarter of 2022.
  • Leverage: At the end of the fourth quarter of 2023, Decibel had a funded debt to trailing twelve month EBITDA(2) of 1.58x.

Sale of Prairie Records Retail Cannabis Stores to FIKA Closed

Retrieved on: 
Wednesday, April 10, 2024
The Company, Sale, AB, Fire, Decibel

CALGARY, AB, April 10, 2024 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a market leader in premium cannabis and extract manufactured products, is pleased to announce that it has closed the previously disclosed sale of the assets of its brick-and-mortar retail cannabis operations ("Prairie Records") to Fire & Flower Inc., a wholly-owned subsidiary of 2759054 Ontario Inc. d.b.a FIKA, for approximately $3.0 million.

Key Points: 
  • CALGARY, AB, April 10, 2024 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a market leader in premium cannabis and extract manufactured products, is pleased to announce that it has closed the previously disclosed sale of the assets of its brick-and-mortar retail cannabis operations ("Prairie Records") to Fire & Flower Inc., a wholly-owned subsidiary of 2759054 Ontario Inc. d.b.a FIKA, for approximately $3.0 million.
  • Prairie Records is comprised of three cannabis stores in Alberta and three cannabis stores in Saskatchewan.

Decibel Appoints Benjamin Sze as CEO

Retrieved on: 
Monday, April 8, 2024
Health, AB, Family, The Company, Management

CALGARY, AB, April 8, 2024 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a market leader in premium cannabis and extract manufactured products, is pleased to announce the appointment of Benjamin Sze as its Chief Executive Officer, effective April 8, 2024.

Key Points: 
  • CALGARY, AB, April 8, 2024 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a market leader in premium cannabis and extract manufactured products, is pleased to announce the appointment of Benjamin Sze as its Chief Executive Officer, effective April 8, 2024.
  • Mr. Sze's transition into the role is expected to be very familiar for both him and the Company as Mr. Sze previously served as the CEO of Decibel before resigning in late 2020 to focus on the health of his family.
  • "We are very excited to have Mr. Sze rejoin the Company as its CEO and bring his experience and expertise back into the business to help facilitate and shepherd the Company through its next phase of development" said Shawn Dym, Decibel's Chairman.
  • Former CEO Paul Wilson will be assisting Mr. Sze in handing off leadership of the Company.

Decibel Announces Retirement of Paul Wilson as CEO

Retrieved on: 
Monday, March 25, 2024
Retirement, AB

CALGARY, AB, March 25, 2024 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, announces that Paul Wilson, the Company's Chief Executive Officer has informed the Board of Directors (the "Board") of his intention to retire from Decibel.

Key Points: 
  • CALGARY, AB, March 25, 2024 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, announces that Paul Wilson, the Company's Chief Executive Officer has informed the Board of Directors (the "Board") of his intention to retire from Decibel.
  • As a result of Mr. Wilson's retirement, the Board is preparing a transition plan, with the intention of a new Chief Executive Officer being named in the coming weeks.
  • Decibel thanks Mr. Wilson for his dedication, leadership, and contributions to the business and wishes him the best in his retirement.

Decibel to Sell its Retail Cannabis Stores to FIKA

Retrieved on: 
Friday, March 22, 2024
Nature, Decibel, AB, The Company, Transaction, Sale, Drug

CALGARY, AB, March 22, 2024 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a market leader in premium cannabis and extract manufactured products, is pleased to announce that it has entered into a binding agreement for the sale of the assets of its brick-and-mortar retail cannabis operations ("Prairie Records") to 2759054 Ontario Inc. d.b.a FIKA ("FIKA"), for approximately $3.0 million (the "Transaction").

Key Points: 
  • CALGARY, AB, March 22, 2024 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a market leader in premium cannabis and extract manufactured products, is pleased to announce that it has entered into a binding agreement for the sale of the assets of its brick-and-mortar retail cannabis operations ("Prairie Records") to 2759054 Ontario Inc. d.b.a FIKA ("FIKA"), for approximately $3.0 million (the "Transaction").
  • Prairie Records is comprised of three cannabis stores in Alberta and three cannabis stores in Saskatchewan.
  • "Decibel remains committed to our core mission of delivering exceptional cannabis brands and products in Canada and around the world.
  • "Prairie Records continues to hold its place as one of the most unique and beloved cannabis retail brands in Canada.

Decibel Announces Third Quarter Results with $30.2 Million of Net Revenue, $6.7 Million of Adjusted EBITDA, and Positive Free Cash Flow

Retrieved on: 
Thursday, November 16, 2023
EBITDA, Seating assignment, Ageing, Vox, The Company, AB, EPS, Growth, National Market System, Earnings per share, Pharmaceutical industry, Video game, Bank, Decibel

National Market Share(2) of 7.5% in Q3 2023 which placed Decibel as the 2nd largest licensed producer in Canada by market share.

Key Points: 
  • National Market Share(2) of 7.5% in Q3 2023 which placed Decibel as the 2nd largest licensed producer in Canada by market share.
  • Net Revenue of $30.2 million in the third quarter of 2023, with a sequential decline of 2% over the prior quarter, and year over year growth of 65%.
  • Positive Free Cash Flow(1) of $1.2 million in the third quarter of 2023, with a sequential increase of 152% over the prior quarter and a year over year decline of 50%.
  • Adjusted Net Income was negatively impacted by a litigation expense of $3 million related to arbitration that is now concluded.

Decibel Launches General Admission 'Blinker' Closed Loop Vape System

Retrieved on: 
Wednesday, October 4, 2023
Clogging, AB, Stock, Seating assignment, Automotive lighting, Love, Decibel, The Company, Herbal cigarette, Tobacco

CALGARY, AB, Oct. 4, 2023 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a leading manufacturer of cannabis ready to consume products, is pleased to announce the launch of General Admission 'Blinker' closed loop vape system of products.

Key Points: 
  • CALGARY, AB, Oct. 4, 2023 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a leading manufacturer of cannabis ready to consume products, is pleased to announce the launch of General Admission 'Blinker' closed loop vape system of products.
  • "Blinker positions Decibel to meet consumer demand for a better vape experience that delivers bold flavours, smart innovation, best-in-class airflow and superior reliability in performance" said Warren Matzelle, Chief Marketing and Product Officer.
  • "The game-changing Blinker vape system features industry-leading innovation to address the many consumer pain points with existing vape products in today's market.
  • Decibel welcomes you to discover more about the future of vaping with the General Admission Blinker closed loop vape system, please visit www.generaladmission.ca/blinker
    The initial products expected to be launched for the General Admission Blinker system are:
    Key Highlights of the General Admission Blinker System include:
    Large initial assortment of flavours and SKUs which consumers have shown to love in other formats like infused pre-rolls, 510 vape cartridges and edibles
    Blinker vape batteries will be priced in-line with standard 510 batteries, making the system comparable in cost to the 510 system for consumers
    Smart pod technology reduces common vape issues like, clogging and leaking, with best-in-class airflow, vapour production and flavour

Decibel Confirms Resignation of Director

Retrieved on: 
Friday, September 29, 2023
AB, The Company, Policy, Decibel, Management

CALGARY, AB, Sept. 29, 2023 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), today announced that it has accepted the resignation of Paul Wilson in respect of his position as a director of the Company.

Key Points: 
  • CALGARY, AB, Sept. 29, 2023 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), today announced that it has accepted the resignation of Paul Wilson in respect of his position as a director of the Company.
  • At the Company's July 5, 2023 annual general meeting, Mr. Wilson did not receive a majority of votes "FOR" his election as a director and, in accordance with the Company's Majority Voting Policy, Mr. Wilson tendered his conditional resignation as a director of the Company.
  • After careful consideration, the Board of Directors of the Company (the "Board") has decided to accept such resignation.
  • The Company's compensation, corporate governance and nominating committee regularly reviews the composition of the Board and, in light of Mr. Wilson's resignation, will do so with a view towards potentially adding a qualified individual that would complement Decibel's position as a leader in Canadian cannabis industry.

Decibel Engages ICP Securities Inc. as its Market Maker and Global One Media's Social Media Services

Retrieved on: 
Friday, September 22, 2023
Gen, AB, Spotify, USD, Generation Z, Millennials, Decibel, The Company, ICP, Social media, Lease

Decibel is equally as pleased to announce it has engaged the services of Global One Media Limited ("Global One Media") to manage its social media channels, including the distribution of interviews, company news, and other similar services.

Key Points: 
  • Decibel is equally as pleased to announce it has engaged the services of Global One Media Limited ("Global One Media") to manage its social media channels, including the distribution of interviews, company news, and other similar services.
  • There are no performance factors contained in the agreement and ICP will not receive shares or options as compensation.
  • Under its agreement with Decibel, Global One Media will receive compensation of USD $3,700 per month.
  • There are no performance factors contained in the agreement and Global One Media will not receive shares or options as compensation.

Decibel Expands Global Footprint with Agreement to Supply Medical Cannabis to 4C LABS for Distribution in the United Kingdom

Retrieved on: 
Wednesday, August 30, 2023
Partnership, AB, BrainScope Company, Inc., Attention, BC Cannabis Stores, Good, Patient, Decibel, Cannabis, United Kingdom, Medical cannabis, Growth, The Company, LABS, Health, Drug, Qwest

Decibel to supply 4C LABS with Qwest branded, craft-quality Medical Cannabis for distribution to UK medical cannabis patients

Key Points: 
  • Decibel to supply 4C LABS with Qwest branded, craft-quality Medical Cannabis for distribution to UK medical cannabis patients
    "We are excited to partner with 4C LABS, a leading organization in the growing medical cannabis industry in the UK, that echoes Decibel's commitment to quality and patient care.
  • "Decibel's success with Qwest flower products in Canada and in Israel's medical market reinforces the demand for premium cannabis products and the reputation we have built to service that demand."
  • "4C LABS is building a patient focused best-in-class product line for the UK & Channel Islands, the Qwest craft flower line strengthens the top end of the 4C LABS product offerings.
  • Decibel's innovative craft quality Qwest flower products will fill an empty segment in the UK market and bring a world class BC Cannabis product to UK patients," said Greg Dobbin, CEO 4C LABS.