Cannabis Co. Decibel Posts Record Performance Of Cannabis Derivative Products, Upsizes Authorized Overdraft
Flower Figures
During the fourth quarter of 2020, the cannabis producer supported advancements of various tools to boost yields in its Creston, British Columbia-based cultivation facility. Thanks to that, the company saw a 61% improvement in total harvested sellable cannabis flower, reaching 483 kilograms in the quarter.
In the first quarter, across several markets, including Alberta, Ontario, British Columbia, and Saskatchewan, Decibel was the number one brand in premium flower sales, holding 8.4% of the market share. We are expanding our market share in the high growth premium flower, concentrate, and vape categories, through our commitment to quality, innovation, and creating choice for customers. Cody Church, Interim CEO of Decibel said in a statement. We continue to execute on our strategic plan with two significant inflection points coming – the launch of ou
December 30, 2020 at 8:44 am Published by NCV Newswire
Decibel Announces Non-Dilutive $30 Million Debt Financing from Connect First Credit Union
CALGARY, AB, Dec. 30, 2020 /PRNewswire/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSXV: DB) (OTCQB: DBCCF), is pleased to announce that it has entered into a commitment letter with Connect First Credit Union Ltd. (“First Calgary”) in respect of $30 million of debt capital (the “Committed Amount”). The Committed Amount is comprised of $28.5 million of term debt (the “Term Debt”) and a $1.5 million authorized overdraft against government receivables (the “Authorized Overdraft”) (collectively, the “Credit Facilities”). The funds will be used to repay Decibel’s existing debt ($26.8 million) and provide additional funds for working capital.
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CALGARY, AB, Dec. 30, 2020 /PRNewswire/ - Decibel Cannabis Company Inc. (the Company or Decibel ) (TSXV: DB) (OTCQB: DBCCF), is pleased to announce that it has entered into a commitment letter with Connect First Credit Union Ltd. (
First Calgary ) in respect of $30 million of debt capital (the
Committed Amount ). The Committed Amount is comprised of $28.5 million of term debt (the
Term Debt ) and a $1.5 million authorized overdraft against government receivables (the
Authorized Overdraft ) (collectively, the
Credit Facilities ). The funds will be used to repay Decibel s existing debt ($26.8 million) and provide additional funds for working capital.
Financing Highlights