Decibel Cannabis Company Inc., a premium cannabis producer, announces that it has granted, effective after market close on January 19, 2022, an aggregate of 3,471,294 stock options (each, an “Option”) to certain officers and employees of the Company in accordance with the Company’s stock option plan.
Each Option is exercisable for one common share in the capital of the Company (a “Share”) at a price of $0.14 per Share, being the closing price of the Shares on the TSX Venture Exchange on January 19, 2022. This is a normal-course grant that comprises part of the long-term compensation and employee retention incentives program provided by the Company. The Options will vest in equal installments on January 1, 2023, January 1, 2024 and January 1, 2025 and will expire on January 1, 2027.
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, Blendcraft, and General Admission, into new and innovative product formats like concentrates, vapes, edibles and beyond.