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Marijuana

1933 Industries Inc (OTCMKTS:TGIFF) Reports Revenues Of $3.1 Million CAD In Q2 2020

1933 Industries Inc (OTCMKTS:TGIFF) has reported revenues of $3.1 million CAD in Q2 2020. It is a decline of 20% when compared to the previous quarter and on the backdrop of transition from the old facility to the new cultivation facility.

Completes two capital projects

1933 Industries has completed two capital projects in Q2 2020. It has completed the new cultivation facility in Las Vegas. AMA (Alternative Medicines Association), a subsidiary of 1933 Industries, has commenced the production in the newly established Las Vegas cultivation facility.

As part of a management accord signed with Green Spectrum Trading Inc, 1933 Industries has expanded the production and cultivation operation to California to support licensing partners and consumer packaged goods. The projects, which spans two quarters, require additional resources and extensive capital spending.

The company has established local manufacturing to produce the Canna Hemp line of cannabidiol products in compliance with California standards. 1933 Industries has unveiled THC concentrates under the AMA brand.

Attracts premium brands in Nevada

1933 Industries has included The Pantry Company, an edible brand, and Bloom, a premier cannabis brand in its portfolio. It also attracted premium brands in Nevada. The company has utilized some resources to bring infrastructure projects in California and Nevada online. As of Q2, 2020, the company maintains a cash balance of $9.1 million CAD for ongoing operations. The company has realized a negative margin of $776,000 because of absorbing the cost to maintain shelf space. It has incurred additional expenses for biomass procurement from third parties and overheads of the cultivation facility.

1933 Industries has reported the first harvest in Q2 from the new facility in Nevada. It will continue the future harvests from this Nevada facility. The company expects to reduce the above-mentioned expenses going forward and produces sufficient biomass from the harvests. It will use the biomass as input to the products.

Outlook

1933 Industries focuses on reducing nonessential costs. It maintains cash reserves and boosts sales growth. The company also strengthens the brands as well as the distribution nationwide. Despite receiving permits, the construction of THC Lab will not move ahead as planned because of the uncertainty created by the coronavirus pandemic. It will enhance the production of THC concentrates from the existing facility.

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Marijuana

1933 Industries Inc (OTCMKTS:TGIFF) Reaches Expansion Milestone With Over 800 Retail Outlets

1933 Industries Inc (OTCMKTS:TGIFF) recently celebrated a key expansion milestone in the U.S after opening more than 800 retail outlets for its cannabis brands.

The achievement highlights the company’s commitment to expanding its business into more areas as part of its strategy to expand its CBD Brand Distribution. So far the impressive number of retail outlets allow 1933 Industries to achieve coast-to-coast distribution in the U.S. Although it has impressive figures, the company intends to continue expanding in line with its plan to provide customers more access to its Canna Hemp™ brand.

“We have been extremely successful at building our own distribution channels across the country, which is now one of the largest networks of CBD and a key differentiator of our Company,” stated 1933 Industries president, Ms. Ester Vigil.

Vigil also pointed out that her company’s integrated market approach might attract third-party partners. This is particularly because TGIFF basically controls all the processes from cultivation, extraction, marketing, manufacturing, and sales. It also handles the branding, as well as distribution. It also plans to commence CBD processing before the end of 2019.

The Canna Hemp brand consists of more than 70 agricultural hemp-based, high-quality products infused with CBD. The products also focus on a wide variety of effects. Market analysts and researchers forecast that CBD sales will reach $20 billion in the U.S market alone by 2024.

1933 Industries receives permanent occupancy permit for Las Vegas facility

1933 Industries recently announced that it was awarded a permanent residency permit for a facility located in Las Vegas, Nevada. The facility is important for the company’s operations in Las Vegas, especially as far as its expansion plans in the state are concerned.

TGIFF CEO Chris Rebentisch stated that his company was pleased about moving into the new facility, as well as commencing operations. The firm expects the facility to increase its flower cultivation by five-fold and this will also boost the growth of its AMA branded products. The facility will therefore be accretive to the company’s revenues in the future and even help it to attract more business partners in the future.

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Marijuana

1933 Industries Inc (OTCMKTS:TGIFF) Enters A Pact With Alternative Medicine Association LLC And Gotti’s Gold Ex LLC To Introduce Gotti’s Gold Branded Cannabis Products In Nevada

1933 Industries Inc (OTCMKTS:TGIFF) has signed an accord with Alternative Medicine Association LLC (AMA) and Gotti’s Gold Ex LLC to unveil Gotti’s Gold branded Cannabis products in alliance with Kurupt, a legendary hip hop artist, in Nevada. The deal is valid up to November 9, 2019. It can be extended for a period of another 12 months.

Premium cannabis products

1933 Industries is targeting the premium cannabis products for adult users in Nevada. The Gotti’s Gold premium cannabis products comprise Gold Nuggets, pre-rolls, premium flower, concentrates, and CBD cartridges. The premium cannabis products will be unveiled at Las Vegas biggest 420 celebration on April 20, 2019. Canna Hemp, a brand of 1933 Industries, sponsors the event on April 20. The company will distribute the premium products using its own distribution networks to the licensed dispensaries across Nevada.

Chief Operating Officer of 1933 Industries, Joe Bleackley said the company has partnered again with Kurupt for introducing Goti’s Gold in Las Vegas. Kurupt has chosen AMA as the partner for the premium products because it delivers quality products consistently.

Improved awareness

Kurupt said the decision to launch the Gotti’s brand of premium cannabis products is to improve awareness among all genres of customers. The users will experience the quality of cannabis products. He further said an alliance with 1933 Industries will open a plethora of opportunities across the world and in the US.

Q2 results

1933 Industries has reported revenues of $3.72 million CAD in Q2 2019. Its net loss is estimated at $2.93 million CAD. It has a cash balance of $8.81 million CAD as on January 31, 2019. The revenues of AMA are estimated at $1.289 million CAD.

The sales revenues of Infused MFG are estimated at $2.39 million CAD in Q2, 2019. Founder and Chief Operating Officer of Infused MFG, Chris Rebentisch said the company has reported a steady growth of 54% as on the date in sales revenues. The company is experiencing dramatic improvements in yields after the appointment of a master grower. Despite reporting slower sales, AMA will benefit from the modern cultivation facility going forward. The company will record higher margins on improved quality and higher yields since it need not to depend on third party materials.

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