The Company raises US $1.27M of non-dilutive capital with land sale
VANCOUVER, BC / ACCESSWIRE / February 22, 2022 / 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE:TGIF)(OTCQB:TGIFF), a Nevada-focused cannabis consumer packaged goods company, is pleased to announce the sale of Nevada real estate assets for total net proceeds of US$1.27 million.
The Company completed the sale of two parcels consisting of 2.78 acres of M1 zoned land, located in Las Vegas. The Company originally purchased the lots for US$835,000 in 2017. Proceeds from the sale will be used for general working capital.
Mr. Paul Rosen, Chairman and CEO of the Company, said: "As the Company has no anticipated plans or need to build on these lots, monetizing this unutilized land provides the Company with additional non-dilutive capital to further execute on its strategic initiatives. The Company remains laser focused on the long-term growth of the Company, prioritizing revenue growth, increasing profitability, scaling cultivation capacity, improving our product mix and enhancing marketing and product development. The additional funds provide 1933 Industries with additional resources to achieve these goals."
About 1933 Industries Inc.
1933 Industries is a Nevada-based, growth-orientated company, focusing on the cultivation and manufacturing of a large portfolio of cannabis consumer-packaged goods in a variety of formats for both the wholesale and retail markets. Its product offerings include: THC flower, pre-rolls, and extracted products under the AMA and Level X brands for the Nevada market; Canna Hemp™, national cannabidiol (CBD) brand of infused wellness products including CBD tinctures, gummies, topicals and sport recovery products. Day One is the Company's national CBD-infused beverage brand. The Company owns 91% of Alternative Medicine Association, LC (AMA), 100% of Infused MFG LLC (Infused), and subject to the closing of the proposed transaction, 100% of Day One Beverages Inc.
About Alternative Medicine Association
AMA is a licensed medical and adult-use cannabis cultivation and extraction subsidiary that produces its own branded line of unique cannabis products. AMA's extensive menu of cannabis products include: craft cannabis flower, pre-rolls, full spectrum oils, high quality distillates, proprietary blends of terpenes, vaporizer products and boutique concentrates such as shatter, crumble, batter, sugar wax, diamonds, and live resin. Ultra-craft brand Level X is an exclusive collection of exotic strains, selected specifically for their distinctive terpene profiles, high THC levels, and flavonoids. With state-of-the-art cultivation and extraction facilities based in Las Vegas, Nevada, AMA seeks to offer medical patients and recreational users alike a cannabis experience that's exceptional, potent, and consistent in quality. www.amanev.com
AMA is also licensed in Nevada as an adult-use cannabis distributor.
About Canna Hemp™
With an extensive product line that includes CBD topicals, CBD creams, CBD gummies, CBD vaporizers, CBD tinctures, CBD capsules, CBD pre and post workout recovery sports products, and CBG and CBN tinctures, 1933 Industries' proprietary Canna Hemp™ brand utilizes the power of hemp-extracted cannabinoids to bring natural wellness.
For further information please contact:
Alexia Helgason, VP, IR and Corporate Communications
C: 604-728-4407
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
Paul Rosen, CEO
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. 1933 Industries undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: 1933 Industries Inc.
