Decibel Announces Postponement of Annual Meeting of Shareholders
Decibel Cannabis Company has announced the postponement of its annual general meeting originally set for September 1, 2022, to improve shareholder participation. Currently, nearly one-third of shareholders have submitted proxies, with an unusual amount of withheld votes compared to previous meetings. The board believes delaying the meeting will foster better governance and allow for addressing any shareholder concerns. A new meeting date will be announced in the future.
- Postponement aims to increase shareholder participation.
- Board seeks to improve corporate governance.
- Only one-third of shareholders submitted proxies.
- Unusually high number of withheld votes compared to prior meetings.
CALGARY, AB, Aug. 31, 2022 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), announces that the Company has determined to postpone its annual general meeting (the "Meeting") of holders of common shares (the "Shareholders") of the Company that was scheduled to be held at 2:00 p.m. (Calgary time) on Thursday, September 1, 2022.
The Company is postponing the Meeting in an effort to encourage greater Shareholder participation at the Meeting. To date, the Company has received proxies from just under one-third of the Shareholders with an unusual number of withheld votes compared to prior annual general meetings of the Company. The board of directors of the Company (the "Board") has decided that it is in the best interest of the Company and its Shareholders to postpone the Meeting to allow for a broader level of participation by Shareholders to ensure good corporate governance and to give the Board time to hear any concerns that any Shareholder may have. The new Meeting date will be announced at a later date.
About Decibel
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.
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.
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SOURCE Decibel Cannabis Company Inc.
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