Sale of Prairie Records Retail Cannabis Stores to FIKA Closed

Rhea-AI Summary

Decibel Cannabis Company Inc. successfully closes the sale of Prairie Records assets to Fire & Flower Inc. for $3.0 million, comprising six cannabis stores in Alberta and Saskatchewan.

CALGARY, AB, April 10, 2024 /PRNewswire/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSXV: DB) (OTCQB: DBCCF), a market leader in premium cannabis and extract manufactured products, is pleased to announce that it has closed the previously disclosed sale of the assets of its brick-and-mortar retail cannabis operations ("Prairie Records") to Fire & Flower Inc., a wholly-owned subsidiary of 2759054 Ontario Inc. d.b.a FIKA, for approximately $3.0 million. Prairie Records is comprised of three cannabis stores in Alberta and three cannabis stores in Saskatchewan.   

About Decibel

Decibel is a consumer-focused cannabis company focused on delivering products that delight customers through a commitment to robust innovation and product quality. Leading brands General Admission, Qwest, and Vox are among its portfolio sold both across Canada and beginning to extend towards new countries to create a global footprint. Decibel operates a processing and manufacturing facility in Calgary, Alberta, and two cultivation facilities in Creston, British Columbia, and Battleford, Saskatchewan.

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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/sale-of-prairie-records-retail-cannabis-stores-to-fika-closed-302112411.html

SOURCE Decibel Cannabis Company Inc.

FAQ

What is the ticker symbol for Decibel Cannabis Company Inc.?

The ticker symbol for Decibel Cannabis Company Inc. is DBCCF.

How much did Decibel Cannabis Company Inc. sell the assets of Prairie Records for?

Decibel Cannabis Company Inc. sold the assets of Prairie Records for approximately $3.0 million.

Who acquired the assets of Prairie Records from Decibel Cannabis Company Inc.?

Fire & Flower Inc., a subsidiary of 2759054 Ontario Inc. d.b.a FIKA, acquired the assets of Prairie Records from Decibel Cannabis Company Inc.

How many cannabis stores were included in the sale of Prairie Records assets?

The sale of Prairie Records assets included six cannabis stores, three in Alberta and three in Saskatchewan.