Decibel Announces Receipt of Cultivation License for the Thunderchild Facility and Director Resignations

Published: February 1, 2021

Decibel Announces Receipt of Cultivation License for the Thunderchild Facility and Director Resignations

Decibel Cannabis Company Inc. announced that the 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, 2021Benjamin 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.

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.

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