Decibel Cannabis Company has secured an ongoing supply agreement with Breath of Life International to launch Decibel's Qwest brand and cannabis products in Israel. The supply agreement is for $4.8 million of premium cannabis products, with the first shipment expected in the fourth quarter.
"We are excited to partner with Breath of Life, a leading licensed producer with extensive distribution presence in the Israel market that echoes Decibel's commitment to quality. Not only will this unlock a strong partnership and a new market for Decibel's craft cannabis products, but it also sets the stage for the Qwest brand to develop international recognition and additional consumer exposure," said Adam Coates, Chief Revenue Officer. "As international cannabis markets expand, we've seen a clear demand for premium and consistent quality. To be recognized by international cannabis companies and consumers is exceptionally gratifying for Decibel. This is the first step into international markets, with more to come."
"The Decibel team and Qwest brand have a reputation for the highest quality cannabis products, premium positioning, as well as favored status with Canadian cannabis connoisseurs. With a growing demand in the international market for higher quality, Canadian-made cannabis, Qwest was the natural choice, and we are excited to partner with Decibel," said Breath of Life CEO Kfir Avraham.
- Ongoing arrangement for the expansion of the Qwest brand to the first international market
- Initial $4.8 million supply agreement with the first shipment expected to be delivered in Q4 2022
- Partnership with the premier cannabis company in Israel with significant entrenched distribution channels
"The Qwest brand enjoys popularity in the Canadian premium market, and also global awareness as legalized cannabis markets develop." Said Paul Wilson, CEO of Decibel. "As Decibel continues to experience record performance in Revenue, EBITDA, gross margin, and market share, the combination of a stable growing Canadian LP with a dominant premium brand attracted international business attention and opportunity. We are thrilled to partner with BOL and look forward to a long relationship."
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Decibel Cannabis Company