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1933 INDS INC - TGIFF STOCK NEWS

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1933 Industries Inc. (TGIFF) is a Nevada-based cannabis cultivator and producer engaged in the cultivation and manufacturing of a diverse range of cannabis consumer-packaged goods. The company's proprietary brands, including AMA and Level X, offer wholesale flower, pre-rolls, and extracted products in the Nevada market. In addition, the national CBD brand, Canna Hemp™, provides wellness products like tinctures, gummies, and topicals. With a focus on optimizing operational efficiencies and increasing cultivation yields, 1933 Industries continues to innovate and adapt to market trends.

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1933 Industries (CSE:TGIF)(OTC PINK:TGIFF) provides an update regarding its management cease trade order (MCTO) for delayed filing of audited financial statements for the year ended July 31, 2024. The British Columbia Securities Commission granted the MCTO on November 29, 2024, restricting trading by key executives until the filings are completed. The company expects to finalize the Audited Filings by January 27, 2025.

The Q1 2025 financial report will be delayed until after the Audited Filings are submitted. Additionally, the company's Alternative Medicine Association (AMA) brand has received a LeafLink List 2024 award for Top Selling in Nevada, based on performance data from January to September.

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1933 Industries, a Nevada-focused cannabis cultivator, has filed for a Management Cease Trade Order (MCTO) with the British Columbia Securities Commission due to its inability to file its audited annual financial statements for the year ended July 31, 2024, by the November 28, 2024 deadline. The delay stems from unsuccessful audit fee negotiations with its existing auditor, although an agreement has now been reached. The audit is expected to be completed by January 27, 2025. The MCTO restricts trading by key executives but does not affect non-insider investors. The company will issue bi-weekly updates until the filings are completed and confirms no other defaults or insolvency proceedings.

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1933 Industries, a Nevada-focused cannabis cultivator and producer, has announced that its common stock has been moved from the OTCQB Market to the OTC Pink Open Market. This transition occurred because the company no longer meets the minimum closing bid price standards required for continued eligibility on the OTCQB. Despite this change, the Pink Open Market still provides brokers with a regulated platform for transparent trading of 1933 Industries' stock.

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1933 Industries (CSE:TGIF, OTCQB:TGIFF), a Nevada-focused cannabis cultivator and producer, has announced the resignation of Mr. Rick Skeith from its Board of Directors, effective immediately. Mr. Skeith had been serving as a director of the company since 2015. The company expressed gratitude for his valuable contributions during his tenure and extended best wishes for his future endeavors. This change in the board composition marks a significant development for 1933 Industries, potentially impacting its governance structure and strategic direction.

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1933 Industries reported its Q3 2024 financial results, showing a significant turnaround with a net profit of $0.1 million, compared to a net loss of $3.3 million in Q3 2023. Total revenues for Q3 reached $4.9 million, a rise from $4.1 million in Q3 2023, while year-to-date (YTD) revenues were $15.1 million, up from $13.3 million the previous year.

The company achieved a gross profit of $2.3 million in Q3 2024, reversing a gross loss of $1.6 million from the prior year, driven by operational efficiencies and facility upgrades. Adjusted EBITDA for YTD was a positive $0.7 million, compared to a loss of $2.6 million in 2023.

1933 Industries' AMA brand ranked #1 in flower and concentrates sales in Nevada. However, operating expenses increased to $2.2 million in Q3 2024, up from $1.8 million in Q3 2023. The company also renegotiated convertible debentures maturing in December 2023, extending maturity to 2025.

Additionally, the company suspended its Canna Hemp™ CBD division and announced a private placement to raise up to $1.8 million, preparing for potential industry changes regarding cannabis rescheduling in the U.S.

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1933 Industries announced a non-brokered private placement financing to raise up to $1.8 million by issuing up to 120 million units at $0.015 per unit.

Each unit includes one common share and one share purchase warrant, exercisable at $0.05 for five years. The funds will enhance company facilities and cover general administrative expenses.

The private placement is open to Canadian residents and will close around July 22, 2024, pending regulatory approvals. The company may pay finder's fees as permitted by policy and laws.

Chairman and CEO Paul Rosen highlighted the company’s strategic review for potential mergers, asset sales, and a business focus shift to leverage the expected rescheduling of cannabis. The AMA brand was noted for its top sales performance in Nevada's concentrate, flower, and pre-roll categories.

The employment agreement of General Counsel and VP Caleb Zobrist has ended.

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1933 Industries, a Nevada-based cannabis cultivator, announced an extension of the expiry date for its 3,700,000 outstanding warrants. Initially set to expire on June 13, 2024, the new expiry date is now November 9, 2025. These warrants, originally issued on November 9, 2020, have an exercise price of $0.075. All other terms of the warrants remain unchanged.

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1933 Industries Inc. announces the acquisition of membership interests in Alternative Medicine Association LC by its subsidiary FN Pharmaceuticals. The purchase price is USD$50,000, payable through the issuance of common shares of 1933 Industries. The transaction is subject to regulatory approvals and involves the Company's Executive VP and General Counsel, Caleb Zobrist.
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1933 Industries Inc. reports positive financial growth in Q2 2024, with total revenues of $4.74 million, a 10% increase year-over-year, and a gross profit increase of 543%. The Company's revenue sources include wholesale cannabis sales in Nevada and hemp-derived wellness products. Despite a net loss of $0.7 million, the Company shows improvements in operational efficiencies and cost reductions.
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1933 Industries Inc. suspends its Canna Hemp CBD subsidiary due to declining market demand post-COVID. The company evaluates the CBD market viability amidst increased competition, store closures, and regulatory uncertainties.
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FAQ

What is the current stock price of 1933 INDS (TGIFF)?

The current stock price of 1933 INDS (TGIFF) is $0.00485 as of December 23, 2024.

What is the market cap of 1933 INDS (TGIFF)?

The market cap of 1933 INDS (TGIFF) is approximately 3.5M.

What is 1933 Industries Inc. known for?

1933 Industries Inc. is known for its focus on the cultivation and manufacturing of cannabis consumer-packaged goods, offering a variety of products to wholesale and retail markets.

What are the proprietary brands of 1933 Industries Inc.?

1933 Industries Inc. owns proprietary brands such as AMA, Level X, and Canna Hemp™, which offer products like wholesale flower, pre-rolls, and wellness items like tinctures and gummies.

How does 1933 Industries Inc. differentiate itself in the market?

1933 Industries Inc. stands out by focusing on operational efficiencies, increasing cultivation yields, and adapting to market trends to meet consumer demands effectively.

What strategic initiatives is 1933 Industries Inc. pursuing?

1933 Industries Inc. is exploring strategic options such as M&A activities, asset sales, and potential shifts in business focus to position the company favorably in anticipation of changing cannabis regulations.

What recent achievements has 1933 Industries Inc. attained?

1933 Industries Inc. was recognized by Headset business intelligence as Nevada's top selling concentrate brand, second top selling flower brand, and third top selling pre-roll brand based on total revenue.

1933 INDS INC

OTC:TGIFF

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TGIFF Stock Data

3.50M
445.09M
8.73%
0.46%
Drug Manufacturers - Specialty & Generic
Healthcare
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United States of America
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