Decibel Appoints Manjit Minhas as Senior Advisor and Director Nominee

Rhea-AI Summary

Decibel Cannabis Company has appointed Manjit Minhas as a Senior Advisor to its Board of Directors, pending her nomination as a director at the upcoming shareholder meeting in June 2022. Minhas brings extensive expertise in consumer packaged goods and cannabis, having co-founded Minhas Brewery and served on the board of Inner Spirit Holdings Ltd. Decibel aims to leverage her experience to strengthen its board and enhance its product offerings across various formats.

Positive

• Appointment of Manjit Minhas enhances board expertise in consumer packaged goods and cannabis.
• Minhas's experience in successful brand development could lead to growth in Decibel's product lines.

Negative

• Potential continuity concerns with the addition of a new board member.

CALGARY, AB, March 21, 2022 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce that it has appointed Manjit Minhas, an entrepreneur, venture capitalist and beer baroness, as a Senior Advisor to Decibel's Board of Directors until such time as she is put forth as a director nominee at the Company's upcoming annual shareholder meeting, which is expected to occur in June.

Manjit has significant CPG expertise, having co-founded the Minhas Brewery, Distillery and Winery with over 90 brands of beers, spirits liqueurs and wines. Her products are sold in 5 provinces as well as 47 states throughout the USA and 16 other countries. She also appears as a television personality on the Canadian reality series, Dragon's Den, where she has invested in dozens of Canadian businesses. Manjit also has specific cannabis industry experience as a former member of the board of directors of Inner Spirit Holdings Ltd.

"We are thrilled to be able to welcome Manjit to the Company and are expecting that she will be formally elected to the Decibel board later this summer" said Decibel's Chairman Cody Church. "Manjit's incredible experience, expertise and consumer product success will have an immediate impact on both the Company and its board of directors ".

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.

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 Company's business plans and strategies, including: that Decibel is well positioned to continue its revenue and market share growth, the Company's ability to grow Qwest, Qwest Reserve and Blendcraft brands into new and innovative product formats, variations and its other business plans and expectations. 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. Such factors include, but are not limited to: risks relating to delays, regulatory changes and impacts, capital requirements, construction impacts, displacement requirements and unforeseen requirements resulting from the COVID-19 pandemic, the ability to obtain and maintain licences to retail cannabis products; review of the Company's production facilities by Health Canada and maintenance of licences (including any amendments thereto) from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis; counterparty risk; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under the Company's credit facilities; timing and completion of construction and expansion of the Company's production facilities and retail locations; and the delay or failure to receive board, regulatory or other approvals, including any approvals of the TSX Venture Exchange, as applicable. 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.

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SOURCE Decibel Cannabis Company Inc.

FAQ

What is the significance of Manjit Minhas's appointment to Decibel Cannabis Company?

Manjit Minhas's appointment as Senior Advisor is expected to bring valuable expertise in consumer products and cannabis to Decibel's Board, potentially guiding future growth.

When will Manjit Minhas be formally nominated as a director for Decibel?

Manjit Minhas is expected to be nominated as a director at Decibel's upcoming annual shareholder meeting in June 2022.

How does Manjit Minhas's background benefit Decibel Cannabis Company?

Minhas has extensive experience in the consumer packaged goods industry and cannabis, which could help Decibel enhance its product offerings and market position.

What are the expected impacts of the leadership change at Decibel Cannabis Company?

The addition of Manjit Minhas could provide fresh perspectives and strategic insights, potentially benefiting Decibel's growth and brand development.

What previous experience does Manjit Minhas have that is relevant to Decibel Cannabis Company?

Manjit Minhas co-founded Minhas Brewery and served on the board of Inner Spirit Holdings, giving her relevant experience in both consumer products and cannabis.