Company raises US$1.27M in non-dilutive capital with sale of land
VANCOUVER, BC /ACCESSWIRE/February 22, 2022/ 1933 Industries Inc. (the “Company” or “1933 Industries”) (CSE: TGIF) (OTCQB: TGIFF), a Nevada-focused consumer packaged goods company, is pleased to announce the sale of real estate assets in Nevada for a total net amount. proceeds of US$1.27 million.
The Company has completed the sale of two 2.78-acre parcels of land zoned M1, 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, President and Chief Executive Officer of the Company, said, “As the Company has no advance plans or need to build on these lots, the monetization of this unused land provides the company additional non-dilutive capital to continue executing its strategic initiatives. . The Company remains focused on the long-term growth of the Company, prioritizing revenue growth, increasing profitability, scaling cultivation capacity, improving our product range and improving 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 growth-oriented, Nevada-based company focused on growing and manufacturing a broad portfolio of packaged cannabis consumer products in a variety of formats for wholesale and retail markets. Its product offerings include: THC flower, pre-rolls and extract 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 sports 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 the Alternative Medicine Association
AMA is a licensed medical and adult-use cannabis cultivation and extraction subsidiary that produces its own line of unique cannabis products. AMA’s extensive menu of cannabis products includes: craft cannabis flowers, pre-rolls, full-spectrum oils, premium distillates, proprietary terpene blends, vaporizers, and boutique concentrates such as shatter, crumble, paste, sugar wax, diamonds and live resin. . The ultra-crafted Level X brand 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 provide medical patients and recreational users with an exceptional, potent and consistently high-quality cannabis experience. www.amanev.com
AMA is also licensed in Nevada as an adult 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 sports recovery products before and after CBG and CBN tinctures and workouts, 1933 Industries’ exclusive Canna Hemp™ brand harnesses the power of cannabinoids extracted from hemp to provide natural wellness.
For more information, please contact:
Alexia Helgason, Vice President, IR and Corporate Communications
E: [email protected]
Paul Rosen, CEO
E: [email protected]
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 press release contains forward-looking statements. Use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe”, and similar aim to identify -looking statements. Although the Company believes that the expectations and assumptions on which forward-looking statements are based are reasonable, undue reliance should not be placed on forward-looking statements as the Company cannot guarantee that they will prove to be accurate. Because forward-looking statements address future events and conditions, they, by their very nature, involve inherent risks and uncertainties. These statements speak only as of the date of this press 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 publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
THE SOURCE: 1933 Industries Inc.
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