Decibel Cannabis Stock Price, News & Analysis

Decibel Cannabis Company has formed a strategic partnership with Union Cannabis Group to enhance its product offerings in the Canadian cannabis market. This collaboration grants Decibel exclusive rights to UCG's unique formulations for vapes and concentrates, enriching its existing brand portfolio with UCG's Dabstract brand. Decibel aims to strengthen its product pipeline and maintain high-quality standards in this growing sector.

Decibel Cannabis Company has appointed Paul Wilson as its new Chief Executive Officer, effective June 23, 2021. Wilson, who has a strong background in brand building with leadership roles at notable Canadian companies, aims to enhance Decibel's growth strategy. The board highlighted his experience and strategic vision as key factors in the selection process. Under Wilson's leadership, Decibel plans to strengthen its premium cannabis brands like Qwest and Qwest Reserve, tapping into the evolving cannabis market.

Decibel Cannabis Company has announced the launch of its premium concentrate brand, Pressed by Qwest, along with new dried flower, pre-roll, vape, and concentrate products. As part of its strategy, Decibel aims to increase its flower production capacity from 1,800 kg to 9,000 kg by the end of 2021. The company plans to introduce seven new rare cultivars and is set to enter the pre-roll category. Additionally, early-stage harvests at Thunderchild have exceeded expectations with THC levels ranging from 24% to 28.5%. The launch of Pressed by Qwest is anticipated to enhance market share in the cannabis sector.

Decibel Cannabis Company held its annual general meeting on June 10, 2021, where shareholders approved all proposed matters. Key outcomes include the election of three directors: Cody Church, Paul Wilson, and Michael Kelly, and the appointment of KPMG LLP as auditors. The company emphasized remote participation for shareholders amid the COVID-19 pandemic. Decibel operates production facilities in BC, SK, and AB, focusing on high-quality cannabis products with brands like Qwest and Prairie Records. This meeting marks a significant step in Decibel's governance and operational strategy.

Decibel Cannabis Company reported record first-quarter results for the three months ending March 31, 2021. The company achieved a net revenue of $12.6 million, marking an 11% increase from the previous quarter and a 151% rise year-over-year. Adjusted EBITDA reached $2.0 million, an 84% increase from Q4 2020. Decibel holds the #1 position in premium flower sales (8.4% market share) and concentrates (21.9% market share) across key provinces. Despite a 15% decline in retail sales due to seasonality, overall growth remains strong, supported by new product launches and a strengthened balance sheet.

Decibel Cannabis Company (TSXV: DB, OTCQB: DBCCF) announced the successful amendment of its commitment letter with Connect First Credit Union, increasing its authorized overdraft. This move aims to bolster liquidity for future operational needs. The company will also release its first-quarter financial results on May 27, 2021, ahead of market opening. Decibel operates multiple production facilities, including a licensed 26,000 sq. ft. cultivation space in Creston, BC, and an 80,000 sq. ft. indoor facility in Battleford, SK, focusing on high-quality cannabis products.

Decibel Cannabis Company (DBCCF) announced strong performance in Q1 2021, achieving a record market share in premium cannabis and concentrates. The company increased its flower production and plans to expand its product offerings significantly.

Decibel has doubled its sales force to improve visibility in key markets like Ontario and Alberta. The Thunderchild facility is on track for full production, with initial revenue ahead of schedule. Additionally, the company has secured a significant increase in its authorized overdraft from $1.5 million to $7.5 million, aimed at supporting growth initiatives.

Decibel Cannabis Company (DBCCF) announced participation in two upcoming virtual conferences: the Canaccord Genuity Cannabis Virtual Conference on May 11, 2021, and the Emerging Growth Conference on May 12, 2021. Senior management will also engage in virtual meetings with investors. Decibel operates three production facilities focused on high-quality cannabis products, including its Qwest brand, distributed across six Canadian provinces. For more information, visit their Investor Presentation.

Decibel Cannabis Company announced the promotion of Kris Newell to Chief Operating Officer, effective April 20, 2021. Newell will oversee two licensed cannabis cultivation facilities and a processing facility. Interim CEO Cody Church expressed confidence in Newell's leadership, especially as operations ramp up at the Thunderchild Cultivation facility, which aims to boost production of their premium cannabis lines. Decibel operates three production facilities and has a strong focus on high-quality cannabis products.