Decibel Announces Stock Option Grants

Rhea-AI Summary

Decibel Cannabis Company has granted 4,246,003 stock options to its officers and employees, effective after market close on April 15, 2021. Each option is exercisable for one common share at a price of $0.17, matching the closing price on the same day. The options will vest in equal installments on January 1, 2022, 2023, and 2024, expiring on January 1, 2026. This grant is part of Decibel's long-term compensation and employee retention program.

Positive

• Grant of 4,246,003 stock options which may enhance employee retention.
• Options priced at $0.17 per share align with market closing values, reflecting strategic planning.

Negative

• None.

CALGARY, AB, April 16, 2021 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer and retailer, announces that it has granted, effective after market close on April 15, 2021, an aggregate of 4,246,003 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 $0.17 per Share, being the closing price of the Shares on the TSX Venture Exchange on April 15, 2021. 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, 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.

Cautionary Statements

Forward Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the anticipated vesting and expiry date of the Options. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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SOURCE Decibel Cannabis Company Inc.

FAQ

What is the stock option grant for Decibel Cannabis Company?

Decibel Cannabis Company has granted 4,246,003 stock options to its officers and employees, effective from April 15, 2021.

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

The exercise price for the stock options is $0.17 per share.

When will the stock options for Decibel vest?

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

What is the expiration date for the stock options granted to Decibel employees?

The stock options will expire on January 1, 2026.