Decibel Cannabis Company has entered into a conditional sale agreement for its property located in Creston, British Columbia and its related consolidation of its cannabis cultivation facility situated on the subject property.
The sale price of the property will be approximately $2,500,000 with all sale proceeds being used to repay a portion of the Company's recently announced term debt. In conjunction with sale of the property, the Company is consolidating the Facility's operations into the Company's other cultivation site located in Battleford, Saskatchewan. Both the sale and consolidation align with the Company's continued focus on operational efficiency and long-term profitability.
"This is a proactive step to further optimize our operating footprint and support disciplined, profitable growth," said Ben Sze, Chief Executive Officer of Decibel. "Our cultivation capacity is well aligned with demand, and this consolidation strengthens our ability to support brand growth in Canada and our global export business. By concentrating production into fewer, higher utilized facilities, we improve efficiency, reduce complexity and strengthen our cost structure. I also want to thank the team in Creston for their contributions and the role they have played in helping build the business."
For more information:
Decibel Cannabis Company
[email protected]
decibelcc.com
