You are reading this week’s edition of New Cannabis Ventures, a weekly magazine we have published since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve, as well as links to the most important news of the week. We no longer email them like we used to, but post this and all newsletters on our website here.

friends,

The Global Hemp Stock Index closed 2/11 at 5.69, down 3.4% in February and 13.7% year-to-date in 2026. Since April 30, 2024, it has fallen by 51.4%. The index peaked at 92.48 five years ago and has since declined 93.9%.

Many are keeping an eye on the AdvisorShares Pure US Cannabis ETF (NYSE Arca: MSOS ) and it is down 16.1% so far in 2026, and since 4/30/24 the decline has been a massive 64.8% to its current $3.96. That’s only slightly higher than $3.81, where it ended 2024, and well above the all-time low of $2.02 set in April of last year. The ETF currently has about 2/3 of its portfolio in just three MSOs. Including four other positions above 5%, the top 7 represent 93.6% of MSOS.

Cannabis stocks are clearly under pressure. The 27 stocks in the Global Hemp Stock Index were mostly lower, although two of the stocks rose more than 15%, Scotts Miracle-Gro and Turning Point Brands. Neither of these two companies exclusively serve the hemp industry. 7 stocks fell by more than 20%, three of which fell by more than 44%.

A few companies reported quarters that ended 12/31, but most of the companies in the index had their year ending and will report them later this month. I’ll share a preview before then. I don’t think financial statements are what it will take to make things right for hemp stocks. Instead, it requires a rearrangement that will result in termination 280E taxwhich I discuss in this weekly newsletter from late 2022. The good news is that it is still potentially alive. I continue to suggest that it should not be assumed that this will happen. It should happen, and it would be good if it happened. Good luck to all consumers, medical patients, industry workers and investors.

Sincerely,

Alan:

New Cannabis Ventures publishes curated articles as well as exclusive news. Here is what we have published in the last 2 weeks.

Exclusives

Cannabis sales fell in January

Hemp stocks are off to a bad start in 2026

Illinois provides another cannabis update

Capital increase

Canadian LP Decibel extends debt

Trulieve owes another $60 million

Follow Alan for real-time updates X.com:. Share and discover industry news with like-minded people on the largest group of cannabis investors and entrepreneurs LinkedIn:.

View: Public Hemp Company Revenue and Earnings Trackingwhich ranks the highest-earning hemp stocks.

Stay on top of the most important communications from public companies by watching what’s coming cannabis investor calendar.

Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El

Decibel announces the closing of a $61 million loan with ATB Financial

CALGARY, AB, February 10, 2026. /PRNewswire/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSXV: DB) (OTCQB: DBCCF), a market leader in premium hemp and derived products, is pleased to announce that it has closed a $61 million total credit facility with ATB Financial and ATB Cormark Capital Markets (collectively, “ATB”).

“With our existing term loan maturing in January 2027, we are active in securing a refinancing that extends our maturities to February 2030, reduces our 2026 payment obligations by $5 million and provides increased leverage to allow us to pursue corporate development initiatives.” said Ben Sze, Chief Executive Officer of Decibel. “We are now free cash flow positive and without any significant near-term debt maturities. The company continues to be a leader in Canadian ready-to-consume categories and to deliver significant international growth and financial results through our international business through AgMedica.

Funding Highlights

• $40 million First Lien Term Loan with regular principal payments throughout the term and at maturity (the “First Lien Term”), replacing Servus Credit Union Ltd. (formerly Connect First Credit Union Ltd.) due in January 2027.
• $10 million Revolving First Lien Credit Facility, which allows flexibility and immediate access to capital to drive corporate development with immediately available funds. Approximately $3 million of such facilities will be available and the remainder will become available upon the satisfaction of certain conditions (together with the “Revolving First Lien Loan” and the “First Lien Term Facility”, the “First Lien Facilities”).
• $11 million Second Lien Term Loan, which does not result in a net change in total liabilities while reducing certain other 2026 payment obligations, expands Decibel’s free cash flow with normal principal repayments throughout the term and periodic repayments at maturity (the “Second Lien Term Facility and First Lien Term Facility” Transaction, collectively, the “Loans”).

“We are incredibly excited to partner with ATB to position Decibel for continued business growth domestically and internationally while strengthening our balance sheet,” said Decibel Chief Financial Officer Stuart Boucher. “Our strengthened balance sheet will position the Company for corporate development initiatives. Our return on investment on the AgMedica acquisition exceeds 50% per annum, and we believe the available capital will allow us to continue to grow our business and gain scale to become a leading global hemp company. debt to EBITDA ratio of less than 2.0x”.

The credit facilities bear interest at benchmark rates indicated by ATB, plus a spread determined by the funded debt to trailing twelve-month adjusted EBITDA. The Credit Facilities are subject to customary financing debt, fixed fee and minimum cash covenants.

The first lien facilities are secured by a first lien on substantially all of Decibel’s assets as borrower and certain of its material subsidiaries as guarantors. The second lien is secured by a second priority security interest in substantially all of Decibel’s assets as borrower and certain of its material subsidiaries as guarantors. Each of the credit facilities includes customary positive and negative covenants and events of default for similar types of loans, including financial covenants.

About the decibel

Decibel is a consumer-focused cannabis company focused on delivering products that delight customers through strong innovation and a commitment to product quality. The leading General Admission, Qwest and Standard Issue brands are among its portfolio, which are sold both in Canada and are beginning to expand into new countries to build a global footprint. Decibel operates a processing and manufacturing facility in Calgary, Alberta, two plants in Creston, British Columbia and Battleford, Saskatchewan, and an EUGMP licensed processing and processing facility in Chatham, Ontario.

Original press release

Published by NCV Newswire

New Cannabis Ventures’ NCV Newswire aims to gather high-quality content and information about leading cannabis companies to help our readers filter through the noise and stay on top of the most important cannabis business news. The NCV Newswire is edited by an editor and is not automated in any way. Got a secret news tip? Get in touch.

Hemp stocks, as measured by the Global Hemp Stock Index, were quite volatile in 2024 and then again in 2025 as well. Although the index rose in December, it fell on the year. In January, the indicator decreased by 10.6%, reaching 5.89.

After collapsing 21.8% in late 2024 to 6.88 in Q4, the index fell heavily in Q1 and then marginally in Q2. The global hemp stock index, which now has 27 members, gained 53.0% in the third quarter but fell 14.2% in the fourth quarter, down 4.2% for the full year.

Since its peak in February 2021, the global hemp stock index is down 93.6% from a closing high of 92.48.

The 3 strongest names in January, each an MSO, were all up more than 4%;

January’s 3 weakest names are all down more than 26%;

• Akanda (NASDAQ: WILL). -44.0%
• iPower: (NASDAQ: IPW). -42.0%
• RHYTHM (Name: RYM). -26.0%

We will summarize the performance of the index again in a month. In April, we historically combined the two articles, and we update here the other indexes that New Cannabis Ventures continues to maintain: the American Cannabis Operator Index, the Ancillary Cannabis Index, and the Canadian Cannabis LP Index.

American Hemp Operator Index

The ACOI sank in January, falling 12.5% ​​to 11.53. In 2025, it increased by 57.7%, reaching 13.18. The large AdvisorShares Pure US Cannabis ETF ( MSOS ) fell 14.6% in January.

The strongest stock in January was Glass House Brands, which rose 4.0%. The weakest, Trulieve (OTC: TCNNF ), fell 20.5%.

The index will have nine members in February with the removals of Ascend Wellness (OTC: AAWH ) and Grown Rogue ( GRUSF ).

Auxiliary cannabis index

Ancillary commodities lost 5.9% in January as the index fell to 10.44. In 2025, the indicator decreased by 19.5%, reaching 11.09.

January’s strongest stock was Turning Point Brands, which rose 21.8%. The weakest iPower fell by 42.0%.

In February, the index will have the same ten members.

Canadian Hemp LP Index

Canadian LPs fell 4.9% in January as the index fell to 56.13. In 2025, the indicator increased by 17.8%, reaching 59.01.

Canada’s strongest LP in January was Simply Solventless Concentrates (TSXV: HASH ), up 28.6%. Tilray Brands (TSX: TLRY ) was the weakest, down 18.0%.

In February, the index will have the same thirteen members.