1933 INDS INC - TGIFF STOCK NEWS

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.

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.

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.

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.

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.

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.

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.

1933 Industries Inc. corrects its news release by stating the number issued of New 10% Senior Unsecured Convertible Debenture as $3,073,000.

1933 Industries Inc. issues new 10% Senior Unsecured Convertible Debentures, settling Historical Debentures. The New Debentures are convertible into units at $0.05 per unit, with a two-year maturity. The Company has the option to force conversion if stock price conditions are met. Interest on the New Debentures is 10% per annum, payable in cash or Common Shares at $0.05 per Interest Share.