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Friday, Dec 9, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Business

Decibel enters Israel via $4.8M supply agreement with local pot producer

Qwest products will be in Israel by the fourth quarter

Decibel enters Israel via $4.8M supply agreement with local pot producer
Decibel's The Plant in Calgary, Alberta. Image via Decibel

Decibel Cannabis Company Inc. (TSX-V: DB) (OTCQB: DBCCF) is set to start selling its Qwest brand and products in Israel after signing a deal with one of the country’s largest cannabis producers.

On Tuesday, the Calgary pot producer announced the $4.8 million supply agreement with Breath of Life International Ltd. to take its products overseas by the fourth quarter of this year.

This is the first international distribution agreement for Decibel. The company received the CUMCS equivalency IMC-G.A.P  to start shipping its products internationally this June.

“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,” Breath of Life CEO Kfir Avraham said.

Breathe of Life was created in 2007 and is a pioneer producer and distributor of medical cannabis in Israel.

Decibel enters Israel via $4.8M supply agreement with local pot producer

Photo via Qwest

 

Read more: Decibel receives export certification to ship pot to Israel

Read more: Decibel Cannabis reports 5% revenue growth in Q4

“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,” Decibel CRO Adam Coates said.

Coates explained the partnership will not only 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.

“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,” Coates added.

 

 

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