11:06 AM EST, 11/04/2024 (MT Newswires) -- Decibel Cannabis ( DBCCF ) on Monday completed a first closing of its non-brokered private placement, issuing 33.5-million shares at $0.06 each to raise $2 million.

"The initial tranche of the private placement was closed to provide insiders with an opportunity to participate. Over 75% of this first tranche subscribers were insiders, employees and consultants which emphasizes management's dedication and commitment to growing Decibel together," said chief executive Benjamin Sze.

Decibel intends to raise a total of $3.5 million.

Decibel was last seen down $0.01 to $0.07 on the TSX Venture Exchange.

Price: 0.08, Change: +0.01, Percent Change: +14.29