1933 INDS INC - TGIFF STOCK NEWS

1933 Industries (CSE:TGIF, OTCQB:TGIFF) has secured a line of credit up to US$1,000,000 from its Chairman and CEO, Paul Rosen. This Loan has an interest rate of 11% per annum and a one-year term, with senior security interests in all company assets as collateral. Withdrawals require approval from the Lender and the interest rate rises to a minimum 2% if repaid early. The funds will support the growth of its cannabis consumer products, including cannabis flower and CBD goods.

1933 Industries Inc. (CSE:TGIF, OTCQB:TGIFF) announced the approval of debenture amendments, with 96% of debenture holders voting in favor. Key amendments include reducing the conversion price to $0.05 per share and extending the maturity date to December 31, 2023. Additionally, the company issued 13,490,000 stock options at $0.05 per share to directors and employees. These changes may enhance liquidity and allow for greater flexibility in financing. Detailed information is available in the Management Information Circular on SEDAR.

1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) announced an Extraordinary Meeting for its Debentureholders on August 24, 2022, at 9:00 a.m. PT. The meeting aims to vote on amendments to the company's 10% Senior Unsecured Convertible Debentures, which include:

• Amending the conversion price to $0.05 per share
• Reducing the interest payment share price from $0.10 to $0.05
• Extending the maturity date to December 31, 2023

The Board of Directors recommends approval of these amendments.

1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) held an extraordinary meeting for holders of its 10% Senior Unsecured Convertible Debentures due September 14, 2022. Debentureholders voted on four proposed amendments, of which only one, regarding forced conversion price, was accepted. With only 18.7% of debentureholders participating, the company believes higher voter turnout could have led to acceptance of other amendments. The Board unanimously recommended the changes, considering them beneficial for shareholders. Further actions are under consideration by the Board.

1933 Industries Inc. (CSE: TGIF, OTCQB: TGIFF) reminds holders of its 10% Senior Unsecured Convertible Debentures due September 14, 2022, to vote at the upcoming meeting on July 13, 2022. The Board recommends voting in favor of proposed amendments, including a revised conversion price of $0.05 per share and extending the maturity date to December 31, 2023. Amendments also include reducing interest payment prices and adjusting forced conversion prices. A detailed circular has been distributed to debentureholders, urging participation in the virtual meeting.

1933 Industries reported its Q3 2022 financial results, revealing a revenue increase of 33% to $4.26 million compared to Q2 2022. The company's gross margin declined to 47% from 73% in Q3 2021. However, total expenses surged to $13.67 million, primarily due to a non-cash goodwill impairment of $11.47 million. The firm faced a net loss of $12.38 million, significantly worse than a net income of $0.58 million in Q3 2021. Additionally, the termination of the acquisition deal with Day One required repayment of $500,000 in loans.

1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) held its Annual General Meeting where shareholders approved all motions presented. Key approvals included the acceptance of audited financial statements for the fiscal year ending July 31, 2021, the election of five directors: Paul Rosen, Lisa Capparelli, Brian Farrell, D. Richard Skeith, and Ranson K. Shepherd, and the appointment of MNP as auditors. An Extraordinary Meeting for debenture holders was adjourned, with more information to be provided later.

1933 Industries (CSE:TGIF)(OTCQB:TGIFF) announced that it did not meet quorum requirements during its Annual General Meeting and Extraordinary Meeting of Debentureholders, both reconvened for June 16, 2022. Voting has been extended, requiring proxies by June 14, 2022. Proposed amendments to the Debentures include lowering the conversion price from $0.10 to $0.075 per share, reducing interest payment prices, and extending the maturity date to September 14, 2023. The Board recommends that Debentureholders vote in favor of these amendments.