1933 Industries to Hold Extraordinary Meeting of Debentureholders and Recommends Holders to Vote in Favor of the Proposed Amendment
1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) is reminding Debentureholders to vote at an Extraordinary Meeting on August 6, 2021, regarding an amendment to extend the maturity date of its debentures from September 14, 2021 to September 14, 2022.
The meeting will address the necessary delisting of the debentures for regulatory approval. A detailed Management Information Circular has been distributed to Debentureholders due to Covid-19 restrictions, encouraging proxy voting. The company holds a significant portfolio in cannabis consumer goods, with control over cultivation, extraction, and manufacturing.
- The extension of the maturity date from September 14, 2021, to September 14, 2022, provides more time for financial planning.
- The company showed alignment in management decisions, as the Board unanimously recommends the delisting of debentures for regulatory approval.
- The need to hold a vote to extend maturity could indicate previous financial challenges.
- Delisting debentures may suggest potential liquidity issues or hurdles in meeting existing financial obligations.
The amendment seeks to complete the one-year extension of the maturity date of the debentures
VANCOUVER, BC / ACCESSWIRE / August 2, 2021 / 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE:TGIF)(OTCQB:TGIFF), a Nevada focused cannabis consumer packaged goods company, reminds Debentureholders to vote at the upcoming Extraordinary Meeting to be held on August 6, 2021.
The Extraordinary Meeting has been convened as a necessary step to complete the previously approved amendment to extend the maturity date of its outstanding debentures as approved by Debentureholders at an Extraordinary Meeting of holders of
The previous resolution approved by the Debentureholders at its April 14, 2021 meeting provided the Company with discretion on the implementation of the Extension. Management has determined it is in the best interest of the Company to proceed with the Extension of the maturity date of the debentures from September 14, 2021, to September 14, 2022.
In order to proceed with the Extension, the Company must delist the debentures as a requisite for regulatory approval by the Canadian Securities Exchange.
Approval to delist the debentures is requested at the upcoming Extraordinary Meeting of holders. The meeting details are as follows:
Date: August 6, 2021
Time: 10:00 a.m. (Pacific Time)
Place: Virtual Meeting Only
The Board unanimously recommends that the Debentureholders vote in favour of the delisting of the debentures. The vote on August 6th is a regulatory requirement that has to be met in order to carry out the Extension of the maturity date as previously approved by Debentureholders.
A Management Information Circular ("Circular") containing a detailed description of the amendment to delist the debentures was mailed to the Company's Debentureholders of record. Due to Covid-19 restrictions, the meeting is scheduled to be held virtually and the Company encourages Debentureholders to vote by proxy, in accordance to the instructions provided in the Circular. The Circular has been filed under the Company's profile on SEDAR and is available at www.sedar.com and is also posted on the Company's website at www.1933industries.com/investors/eom-materials
About 1933 Industries Inc.
1933 Industries is a Nevada-based, growth-orientated company, focusing on the cultivation and manufacturing of cannabis consumer branded goods in a wide range of product formats. Operating through two subsidiaries, the Company controls all aspects of the value chain with cultivation, extraction, processing, distribution and manufacturing assets supporting its diversified portfolio of cannabis brands and licensing partners. The Company owns
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 and manufactures third-party brands. 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. AMA recently announced the launch of its ultra-craft brand Level X, 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 topicals, creams, vapes, elixirs, capsules, lip balms and pre and post workout recovery sports products, 1933 Industries' proprietary Canna Hemp™ brand utilizes the power of CBD to bring natural wellness. The Company's flagship products, the Canna Hemp™ Relief Cream and Canna Hemp X™ Recovery Cream are recognized as best topicals in the market. Canna Hemp X™ is a CBD sports recovery cream for athletes, bridging the gap between recovery and top performance. All products are triple and third-party tested for safety with test results embedded via QR codes for traceability. www.cannahemp.com
For further information please contact:
Alexia Helgason, VP, IR and Corporate Communications
604-674-4756 (ext. 1)
alexia@1933industries.com
Paul Rosen, CEO
604-674-4756 (ext. 1)
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.
View source version on accesswire.com:
https://www.accesswire.com/657910/1933-Industries-to-Hold-Extraordinary-Meeting-of-Debentureholders-and-Recommends-Holders-to-Vote-in-Favor-of-the-Proposed-Amendment
FAQ
What is the significance of the extraordinary meeting on August 6, 2021, for TGIFF?
Why is 1933 Industries requesting to delist its debentures?
What are the implications of extending the maturity date for TGIFF shareholders?
How will the pandemic affect the extraordinary meeting for TGIFF?
