Welcome to our dedicated page for Decibel Cannabis news (Ticker: DBCCF), a resource for investors and traders seeking the latest updates and insights on Decibel Cannabis stock.
Decibel Cannabis Company Inc. (DBCCF) delivers premium cannabis products through brands like General Admission and Qwest, focusing on cultivation excellence and global market expansion. This news hub provides investors with official updates on strategic developments, financial performance, and operational milestones.
Access timely announcements including earnings reports, product innovations, regulatory compliance updates, and international expansion plans. Our curated collection ensures transparent tracking of the company's progress in optimizing production processes and strengthening its position in competitive cannabis markets.
Key updates cover cultivation advancements, supply chain developments, brand portfolio enhancements, and leadership initiatives. Bookmark this page for direct access to Decibel's verified corporate communications, helping you make informed decisions about this innovative cannabis producer.
Decibel Cannabis Company has achieved IMC-G.A.P certification, allowing international export of its cannabis products, marking a significant milestone in expanding its market reach. This certification opens sales channels, particularly in Israel, with initial exports expected in the second half of 2022. The CEO highlighted the international demand for premium cannabis and Decibel's readiness to meet this need. The company operates several production facilities across Canada, known for high-quality cultivars like Qwest and Qwest Reserve, as it seeks to enhance brand recognition globally.
Decibel Cannabis Company Inc. reported strong first-quarter results for the period ending March 31, 2022, with record net revenue of $16.7 million, representing a 19% increase quarter-over-quarter and a 32% rise year-over-year. The company also achieved a record adjusted EBITDA of $2.5 million, marking a 70% growth from the previous quarter. Despite a seasonally weak quarter, Decibel saw increased demand for its new infused pre-rolls and other cannabis products. The company successfully repaid convertible debentures, thereby reducing potential shareholder dilution.
Decibel Cannabis Company will release its 2022 first quarter financial results on May 25, 2022, before market opening. The company is recognized for its premium cannabis products and operates several production houses across Canada. Notable facilities include the Qwest Estate in Creston, BC, and Thunderchild Cultivation in Battleford, SK, contributing to the brands Qwest and Qwest Reserve. Decibel also emphasizes innovation through its extraction facility in Calgary, which supports a range of new product formats.
On May 11, 2022, Decibel Cannabis Company announced the full cash repayment of its 9.5% convertible debentures, totaling $12 million, which matured on May 10, 2022. The repayment was made possible by a simultaneous draw-down of $12 million from its credit facility with ConnectFirst Credit Union, which carries a fixed interest rate of 4.75% per annum, repayable over 60 months. Decibel continues to focus on producing high-quality cannabis products through its various facilities in Canada.
Decibel Cannabis Company (DBCCF) has reported strong financial results for the year ending December 31, 2021, achieving a net revenue of $52 million, a 75% increase from 2020. The gross profit rose by 53% to $18 million, with an impressive adjusted EBITDA of $7.4 million, marking a 386% increase. In Q4 alone, net revenue reached $14 million, up 5% from the previous quarter. Despite facing price compression and increased competition, Decibel anticipates net revenue of $16.5 - $17.5 million for Q1 2022, and a national market share of 4.0%.
Decibel Cannabis Company (TSXV: DB; OTCQB: DBCCF) will announce its 2021 fourth quarter financial results on April 22, 2022, before market opening. The announcement will include a management discussion and analysis of the financial outcomes. Decibel operates multiple production facilities in Canada, producing high-quality cannabis products and retail experiences through its brands like Qwest, Qwest Reserve, and Prairie Records.
Decibel Cannabis Company has appointed Manjit Minhas as a Senior Advisor to its Board of Directors, pending her nomination as a director at the upcoming shareholder meeting in June 2022. Minhas brings extensive expertise in consumer packaged goods and cannabis, having co-founded Minhas Brewery and served on the board of Inner Spirit Holdings Ltd. Decibel aims to leverage her experience to strengthen its board and enhance its product offerings across various formats.
Decibel Cannabis Company Inc. (DBCCF) reported an operational update on March 14, 2022, highlighting its fourth consecutive month of record market share, achieving 4.6% in major markets and 3.8% nationally in February 2022. The CEO, Paul Wilson, emphasized the positive impact of their capital project milestones on product quality and market shares. They also provided updates on expansions at their processing hub and cultivation facilities, which are anticipated to enhance operational efficiencies and yields. Health Canada licensing is expected in Q2 2022.
Decibel Cannabis Company (TSXV:DB, OTCQB:DBCCF) secured $54 million in debt financing from connectFirst Credit Union. This financing includes $40.5 million in term debt, a $6.0 million authorized overdraft, and a $7.5 million accordion line to support future growth. The funds will enhance Decibel's liquidity and support the repayment of convertible debentures. The company aims to optimize its capital structure and execute its growth strategy while maintaining compliance with financial covenants. The interest rates for the financing range from 4.75% to Prime + 2.00%.
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