Decibel Expands Global Footprint with Agreement to Supply Medical Cannabis to 4C LABS for Distribution in the United Kingdom
CALGARY, AB, Aug. 30, 2023 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a market leader in premium cannabis and extract manufactured products, is pleased to announce that it has expanded its global footprint by entering into a supply agreement (the "Agreement") to provide premium dried medical cannabis flower to 4C LABS, a healthcare, technology, and pharmaceutical company focused on virtual prescribing, pharmaceutical distribution and clinical development in cannabis based medicinal products for human health in the United Kingdom and Channel Islands (the "UK").
Key Highlights
- Decibel to supply 4C LABS with Qwest branded, craft-quality Medical Cannabis for distribution to UK medical cannabis patients
- Decibel to grant strain exclusivity of rare and unique cultivars to be distributed by 4C LABS
- 3-year supply agreement
- Initial shipment expected before year end
- Minimum purchase commitments achieve exclusivity over certain genetics and QWEST brand in the UK
"We are excited to partner with 4C LABS, a leading organization in the growing medical cannabis industry in the UK, that echoes Decibel's commitment to quality and patient care. Not only will this unlock a strong partnership and a new market for Decibel's craft cannabis products, it also sets the stage for further growth into other European markets," said Adam Coates, Chief Revenue Officer. "Decibel's success with Qwest flower products in Canada and in Israel's medical market reinforces the demand for premium cannabis products and the reputation we have built to service that demand."
"4C LABS is building a patient focused best-in-class product line for the UK & Channel Islands, the Qwest craft flower line strengthens the top end of the 4C LABS product offerings. Decibel's innovative craft quality Qwest flower products will fill an empty segment in the UK market and bring a world class BC Cannabis product to UK patients," said Greg Dobbin, CEO 4C LABS. "Decibel's success in Canada, the most competitive cannabis market in the world, is a product of hard work, innovation and attention to detail, qualities that will resonate with UK patients."
About Decibel
Decibel is a consumer-focused cannabis company focused on delivering products that delight customers through a commitment to robust innovation and product quality. Leading brands General Admission, Qwest, and Vox are among its portfolio sold both across Canada and beginning to extend towards new countries to create a global footprint. Decibel operates a processing and manufacturing facility in Calgary, Alberta, and two cultivation facilities in Creston, British Columbia, and Battleford, Saskatchewan.
About 4C LABS
4C LABS is a patient focused healthcare, technology, and pharmaceutical company concentrating on virtual prescribing, pharmaceutical distribution and clinical development in cannabis based medicinal products ("CBMPs") for human health. 4C LABS is committed to advancing scientific research, as well as enabling the regulation, distribution and prescribing of CBPMs in the UK and Channel Islands. Its work with leading scientists, specialist physicians, and pharmacists is underpinned with disruptive technologies that are driving an approach to treatment that prioritizes patients and evidence over stigma. 4C LABS works closely with Drug Science, the Cannabis Industry Council (CIC), The Medicines and Healthcare Products Regulatory Agency (MHRA) and the Care Quality Commission (CQC) to catalyze safe, regulated change in the medical landscape. 4C LABS is fully licensed in the UK with MS WDA, Schedule 1 Narcotics and Production licenses.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
In this news release, forward-looking statements relate to, among other things, the timing of the initial shipment; expectations with respect to the impact the Agreement will have on the Company's business; expectations regarding international markets and the Company's position therein; the Company's ability to grow its brands into new and innovative territories as well as product formats, variations and other business plans and expectations.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: satisfaction of all international regulatory requirements, including applicable product testing; risks relating to delays; other regulatory changes and impacts; capital requirements; construction impacts; displacement requirements; global macro-economic events, conditions and factors; the ability to obtain and maintain licenses to retail cannabis products; review of the Company's production facilities by Health Canada and maintenance of licenses (including any amendments thereto) from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis, international export rules and regulations; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under the Company's credit facilities; and the delay or failure to receive board, regulatory or other approvals, including any approvals of the TSX Venture Exchange, as applicable.
There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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SOURCE Decibel Cannabis Company Inc.
