Decibel Cannabis Company's wholly-owned subsidiary, dB Thunderchild Cultivation LP, has been granted a cultivation license from Health Canada for its Thunderchild facility.
"The Thunderchild licensing represents another significant milestone for Decibel and the final step in completing Decibel's current slate of large scale growth projects," said Cody Church, Interim CEO of Decibel. "We are excited to drastically expand our cultivation capacity and bolster our supply of Qwest branded products which have seen tremendous consumer demand."
The Thunderchild facility is a large scale indoor cultivation facility designed for hands-on, high standard craft cannabis production. The licensing expands Decibel's available cultivation capacity from 1,800 kilograms to more than 9,000 kilograms of premium craft cannabis sold under the Qwest family of brands, which achieves some of the highest prices in Canada ($10.18 average gross price per gram – Q3'20). The facility is critical to Decibel's long term strategic plan and will deliver consumers more choice of high quality, and rare cultivars in the flower and pre-roll product categories.
Director Resignations
Decibel's Board of Directors has been reconstituted to enable the receipt of the cultivation license for the Thunderchild facility by limiting the Board of Directors to those individuals who had previously received Health Canada security clearance. Effective January 29, 2021, Benjamin Sze, Dr. Ivan Casselman, and Billy Yellowhead resigned from their positions as directors of the Company (the "Resigned Directors"). Dr. Casselman and Mr. Yellowhead will serve in a limited capacity as advisors to the Company as they continue to progress through Health Canada security clearance, while Mr. Sze will continue to focus his attention on his family. The Resigned Directors will only be re-appointed to the Board once they've obtained their security clearances.
"Decibel would like to thank Benjamin for all of his hard work, leadership and vision during his time with the Company," said Cody Church, Interim CEO of Decibel. "We cannot thank Benjamin enough for the positive impact he has had on both the individuals and business of Decibel and although we are saddened by Benjamin's departure, we fully support his decision to focus on his family at this time". Mr. Church will continue to serve as the Company's interim CEO until a formal replacement is announced.
For more information:
Decibel Cannabis Company
710, 530 8th Avenue SW
Calgary, AB T2P 3S8
[email protected]
decibelcc.com