1933 INDS INC - TGIFF STOCK NEWS

1933 Industries Inc. and Day One Beverages have mutually terminated their binding Letter of Intent regarding the acquisition of Day One. This decision follows revelations about Day One's greater-than-expected capital requirements. As part of the agreement, Day One will repay a loan of US$482,571.24 by June 30, 2022, along with an additional US$30,051.84 for incurred costs due by June 9, 2022. Should the repayment not occur, 1933 Industries retains the right to convert the loan into shares at a valuation of US$4,500,000.

1933 Industries Inc. (CSE:TGIF, OTCQB:TGIFF) has scheduled its Annual General Meeting of Shareholders for June 9, 2022, at 9:00 a.m. PST via Zoom. Shareholders will review the audited financial results for the fiscal year ending July 31, 2021, and vote on the election of five directors: Paul Rosen, Lisa Capparelli, Brian Farrell, D. Richard Skeith, and Ranson K. Shepherd. Additionally, MNP, Chartered Professional Accountants, will be appointed as auditors. Detailed information is available in the management information circular sent to shareholders.

1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) has filed a preliminary short form Base Shelf Prospectus to offer up to $100 million in securities over a 25-month period. This prospectus allows the company to issue various securities, including common shares and debt securities, providing flexibility for future financing. However, there is no guarantee that securities will be sold. The securities will not be registered under U.S. laws, and the company has yet to confirm any agreements for issuance. The Base Shelf Prospectus has been filed on SEDAR.

1933 Industries Inc. (CSE:TGIF, OTCQB:TGIFF) announced its Q2 2022 financial results, reporting a 23% rise in revenues to $3.2 million, compared to $2.5 million in Q1 2022. The company achieved an 87% decrease in net loss, amounting to $0.8 million, while gross margin was 46%. Operating expenses dropped by 65% to $2.4 million. The cultivation subsidiary recorded a 33% revenue increase due to enhanced processing methods, leading to a 31% rise in inventory. 1933 Industries is on track to profitability with ongoing improvements.

Day One CBD sparkling water has partnered with LA Distributing Company to enhance distribution across Southern California, particularly in major markets like Los Angeles and Orange counties. This collaboration is expected to drive significant market penetration amidst growing consumer demand for healthier beverages. Notably, 1933 Industries (CSE:TGIF, OTCQB:TGIFF) is set to acquire Day One Beverages to leverage operational efficiencies. The CBD drinks, featuring 20mg of CBD per can and offered at a retail price of $2.99, are designed to cater to health-conscious consumers.

Day One CBD sparkling water has partnered with LA Distributing Company to enhance distribution across Southern California, including Los Angeles and surrounding regions. The brand aims to leverage growing consumer demand for healthier beverages, particularly in Los Angeles County. Day One's products, which contain 20mg of CBD per can, are already available nationwide, priced at $2.99 each. This partnership coincides with Day One's recent designation as the official CBD partner of USA Pickleball, indicating a strategic move to capitalize on the sport's expanding popularity.

1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) has successfully raised US $1.27 million through the sale of 2.78 acres of M1 zoned land in Las Vegas. Originally purchased for US $835,000 in 2017, the sale is aimed at enhancing the company's non-dilutive capital for strategic initiatives. The funds will support the company's focus on long-term growth, revenue enhancement, and product development. Their portfolio includes various cannabis products and national brands like Canna Hemp and Day One beverages.

1933 Industries Inc. (CSE:TGIF) (OTCQB:TGIFF) announces the resignation of Mr. Mark Baynes from its Board of Directors and the appointment of Mr. Ranson K. Shepherd as his successor. Shepherd, an experienced leader in the cannabis industry, has raised over $100 million in venture capital and is known for his effective business strategies. The company aims to expand cultivation and drive revenue growth with Shepherd's expertise. This change in leadership is expected to enhance the company's operations in the cannabis consumer packaged goods market.

1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) has announced a three-year partnership between its Day One Beverages and the USA Pickleball Association. This collaboration aims to offer CBD-infused beverages to America's fastest-growing sport, expected to attract over 5 million players. Day One will provide its zero-calorie, 20mg CBD drinks to enhance athlete recovery and refreshment. The partnership capitalizes on the increasing participation in Pickleball, which saw a 21% rise in 2020 alone. The acquisition of Day One is due to close by January 31, 2022, pending regulatory approval.