The decline in a stock may not always be bad news considering the fact that it might sometimes prove to be an opportunity for new investors. This brings us to the subject of the Decibel Cannabis Company Inc (OTCMKTS:DBCCF), a high quality cannabis producer which has seen its stock decline by as much as 15% over the past week.
The decline in the stock may be substantial but it is also important for investors to figure out if the fall is an opportunity or not. In this context, it might be a good idea to take a look at an announcement from the company back on August 26.
At the time the company announced that it signed an agreement with Haywood Securities Inc, Eight Capital and Raymond James Ltd. As per the provisions of the agreement, the three entities are going to work a underwriters for Decibel Cannabis and pick up as many as 345,000,000 units in the company on a bought deal basis.
The underwriters are going to pick up the units at the price of $0.29 each and it is expected to raise a total of $10 million for Decibel Cannabis Company. It could be a good time to keep an eye on the Decibel stock.