Decibel Cannabis Raises $54 Million Debt Capital from connectFirst Credit Union

Decibel Announces $54 Million Debt Refinancing with connectFirst, Increasing its Access to Debt by $20 MillionCALGARY, AB, Jan. 14, 2022 /PRNewswire/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce that it has entered into an amended and restated commitment letter with connectFirst Credit Union Ltd. (“connectFirst”) in respect of $54 million of debt capital (the “Committed Amount”) over an initial 5-year term. The Committed Amount is comprised of $40.5 million of term debt (the “Term Debt”), a $6.0 million authorized overdraft secured against government receivables (the “Authorized Overdraft”), and an accordion line of $7.5 million (the “Accordion Line” and collectively, the “Credit Facilities”). Financing HighlightsAccess to $12 Million of Additional Term Debt: The Company’s existing term debt will be increased by $12 million to $40.5 million, amortized over 12-years. The $12 million term debt will be accessible on request by Decibel. This production house will fuel the growth of our brands Qwest, Qwest Reserve, Blendcraft, and General Admission, into new and innovative product formats like concentrates, vapes, edibles and beyond.