CALGARY, AB , Oct. 5, 2022 /CNW/ - Decibel Cannabis Company Inc. (the "Company" or "Decibel") (TSX-V: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce it has secured an on-going supply agreement with Breath of Life International Ltd. ("Breath of Life" or "BOL") to launch Decibel's Qwest brand and cannabis products in Israel . The supply agreement is for $4.8 million of premium cannabis product, with the first shipment expected in the fourth quarter.
"We are excited to partner with Breath of Life, a leading licensed producer with extensive distribution presence, in the Israel market, that echoes Decibel's commitment to quality. Not only will this unlock a strong partnership and a new market for Decibel's craft cannabis products, it also sets the stage for the Qwest brand to develop international recognition and additional consumer exposure," said Adam Coates , Chief Revenue Officer. "As international cannabis markets expand, we've seen a clear demand for premium and consistent quality. To be recognized by international cannabis companies and consumers is exceptionally gratifying for Decibel. This is the first step into international markets, with more to come."
"The Decibel team and Qwest brand have a reputation for the highest quality cannabis products, premium positioning as well as, favoured status with Canadian cannabis connoisseurs. With a growing demand in the international market for higher quality, Canadian made cannabis, Qwest was the natural choice and we are excited to partner with Decibel" said Breath of Life CEO, Kfir Avraham.
Key Highlights
- On-going arrangement for the expansion of the Qwest brand to first international market
- Initial $4.8 million supply agreement with first shipment expected to be delivered in Q4 2022
- Partnership with the premier cannabis company in Israel with significant entrenched distribution channels
"The Qwest brand enjoys popularity in the Canadian premium market, and also global awareness as legalized cannabis markets develop." Said Paul Wilson , CEO of Decibel. "As Decibel continues to experience record performance in Revenue, EBITDA, gross margin and market share, the combination of a stable growing Canadian LP with a dominant premium brand attracted international business attention and opportunity. We are thrilled to partner with BOL and look forward to a long relationship."
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, that are sold in six provinces across Canada . Thunderchild Cultivation, is a licensed and operating 80,000 square foot indoor cultivation facility inBattleford, 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.
About Breath of Life
Breath of Life has been pioneering the creation of the medical cannabis industry in Israel since 2007 in innovation, development and product quality. BOL is a leader in the fields of growing, marketing, and distributing medical cannabis in Israel . The company's sales strategy relies on deep understanding of the Israeli consumer taste and exclusive marketing rights of top global cannabis brands. BOL is committed to serving patients with quality products that will further improve their quality of life. In parallel, BOL is pursuing its development programs for cannabis-based wellness products.