Cannabis producer Decibel Cannabis Company Inc. DB DBCCF is launching its Qwest brand and cannabis products in Israel as part of an ongoing supply agreement with Breath of Life International Ltd.
The supply agreement is for $4.8 million of premium cannabis product, with the first shipment expected in the fourth quarter, the Calgary, Alberta-based company said on Tuesday.
Moreover, the deal strengthens the 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,” Paul Wilson, CEO of Decibel, said. “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.”
Adam Coates, the company’s CRO, said there’s a “clear demand for premium and consistent quality.”
“Not only will this unlock a strong partnership and a new market for Decibel’s craft cannabis products, but it also sets the stage for the Qwest brand to develop international recognition and additional consumer exposure,” Coates added.
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Decibel shares traded 0.66% lower at $0.06 after the market close on Monday.
Photo: Courtesy of Kimzy Nanney on Unsplash
Image and article originally from www.benzinga.com. Read the original article here.