Decibel Cannabis Company Inc., a premium cannabis producer and retailer, provided a business update regarding its recent launch of cannabis derivative products and other key milestones.
“We’ve strongly positioned ourselves to succeed in the vape and concentrate market in Canada and are proud to be delivering on our plans and promises. In continuing to follow and optimize our strategic vision, Decibel is steadily working to become a market leader in the high growth vape and concentrate product categories,” said Cody Church, Interim Chief Executive Officer of Decibel. “By leveraging the uncompromising approach we take across the fulsome Decibel business, the products we’re creating are of the highest quality and consideration. We will not let our customers down and will continue to bring a significant pipeline of new and innovative products to the market.”
“We continue to differentiate ourselves not only in our product strategy, but also as one of the few cannabis companies showing profitable results in the third quarter of 2020. We have remained steadfast that sustainable and profitable growth is one of our primary goals.” added Stuart Boucher, Chief Financial Officer of Decibel.
Since September 2020, Decibel has launched a total of 26 vape and concentrate SKUs into the recreational market across five provinces including British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario. In January, Decibel achieved a 22% market share in concentrates and a 9% market share in vape categories across British Columbia, Alberta, Saskatchewan, and Ontario1,2. Looking ahead, the Company anticipates launching over 30 additional SKUs including its highly anticipated launch of Qwest branded vapes and concentrates.
- First branded derivative product shipment to Manitoba completed in February
- Across British Columbia, Alberta, and Saskatchewan, four months into its product launches, Decibel has achieved1:
- #1 in concentrate sales under its Blendcraft by Qwest brand in the last 60 days
- #3 in vape sales under its General Admission brand in the last 60 days
- In Ontario, one month into its product launches, Decibel has achieved2:
- #3 in concentrate sales under its Blendcraft by Qwest brand
- #8 in vape sales under its General Admission brand
After receiving its latest cultivation license, operations are well underway at Decibel’s Thunderchild facility – a facility which is critical to Decibel’s long term strategic growth plan and will deliver consumers more choice of quality grown, rare cultivars in the dried flower and pre-roll product categories.
- Qwest flower products achieve some of the highest prices in Canada (Q3’20 – $10.18 / gram)
- Through its combined facilities, Decibel will be launching 6 – 10 new genetics over the next year, including Stuffed French Toast and Sunset MAC coming soon
- Decibel’s Qwest flower products remain in short supply and have been out of stock in key provincial markets due to high consumer demand for its flower products
- Thunderchild increases capacity from 1,800 kilograms to more than 9,000 kilograms
- Four flower rooms already planted and at various stages (20% of total facility planted)
- Thunderchild first revenue expected Q2 2021
1 HiFyre Retail Analytics, Licensed Producer Sales over Time in BC, AB, SK, December 1, 2020 – January 31, 2021
2 HiFyre Retail Analytics, Licensed Producer Sales over Time in ON, January 1, 2021 – January 31, 2021
Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses along with its wholly owned retail business, Prairie Records. The Qwest Estate in Creston, BC is a licensed and operating 26,000 square foot cultivation space which produces the widely championed, rare cultivar-focused brands Qwest and Qwest Reserve, which are sold in six provinces across Canada. Thunderchild Cultivation, is a licensed and operating 80,000 square foot indoor cultivation facility in Battleford, SK. The Plant, Decibel’s extraction facility, in Calgary, AB has 15,000 square feet of Health Canada licensed extraction and product development space. This production house will fuel the growth of our brands Qwest, Qwest Reserve, and Blendcraft, into new and innovative product formats like concentrates, vapes, edibles and beyond.