Decibel Announces Stock Option Grant

Rhea-AI Summary

Decibel Cannabis Company has granted 2,500,000 stock options to its CEO, effective after market close on August 17, 2021. Each option is exercisable for one common share at a price of $0.34, coinciding with the closing stock price on the same day. The options will vest in equal installments on January 1, 2022, 2023, and 2024, expiring on January 1, 2026. Decibel operates three production facilities and is committed to producing high-quality cannabis products and innovative formats such as concentrates and edibles.

Positive

• Granting a significant number of stock options may align the CEO's interests with those of shareholders.
• Decibel's commitment to high-quality products could enhance its market position.

Negative

• The exercise price of $0.34 may be seen as dilutive if the market price does not rise above this level by the expiration date.
• Potential concerns around excessive stock options granted to executives may raise governance issues.

CALGARY, AB, Aug. 18, 2021 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, announces that it has granted, effective after market close on August 17, 2021, 2,500,000 stock options (each, an "Option") to the Chief Executive Officer 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 $0.34 per Share, being the closing price of the Shares on the TSX Venture Exchange on August 17, 2021. The Options will vest in equal installments on January 1, 2022, January 1, 2023 and January 1, 2024 and will expire on January 1, 2026.

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, and Blendcraft, 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.

FAQ

What did Decibel Cannabis Company announce on August 18, 2021?

On August 18, 2021, Decibel Cannabis Company announced the granting of 2,500,000 stock options to its CEO.

What is the exercise price for the stock options granted by Decibel Cannabis Company?

The stock options are exercisable at a price of $0.34 per share.

When will the stock options granted by Decibel Cannabis Company vest?

The stock options will vest in equal installments on January 1, 2022, January 1, 2023, and January 1, 2024.

When will the stock options granted by Decibel Cannabis Company expire?

The stock options will expire on January 1, 2026.

What is the significance of the stock option grant for Decibel Cannabis Company?

The stock option grant aligns the CEO's interests with shareholders and may motivate performance.