CALGARY, AB – Decibel Cannabis Company Inc., a market leader in premium cannabis and extract manufactured products, is pleased to announce that it has received final acceptance from the TSX Venture Exchange (the “TSXV”) granted acceptance for Decibel Cannabis Company Inc.’s acquisition of AgMedica Bioscience Inc. pursuant to an assignment agreement entered into with Callisto Capital Corp. in exchange for a $6.3 million unsecured convertible debenture. As a result of receiving the acceptance, Decibel completed the conversion and issued 114,545,455 common shares to Callisto.
The conversion of the Debenture was conditional upon receipt of final TSXV acceptance for the acquisition of AgMedica pursuant to Exchange Policy 5.3, which would have required disinterested shareholder approval of Callisto as a “Control Person” (as such term is defined in the rules and policies of the TSXV), if applicable. As a result of the Company having completed its previously announced private placement, Callisto will not be a Control Person of the Company following conversion of the Convertible Debenture and therefore approval of the disinterested shareholders of the Company is not required for the conversion.
About Decibel
Decibel is focused on delivering cannabis 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, two cultivation facilities in Creston, British Columbia and Battleford, Saskatchewan, and an EUGMP licensed cultivation and processing facility in Chatham, Ontario.
