1933 INDS INC - TGIFF STOCK NEWS

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.

1933 Industries Inc. (CSE:TGIF) (OTCQB:TGIFF) has announced an extraordinary meeting for holders of its 10% Senior Unsecured Convertible Debentures set for June 9, 2022. The meeting will focus on several proposed amendments to the debentures, including:

• Reducing the conversion price from $0.10 to $0.075.
• Lowering the price per share for interest payments.
• Extending the maturity date from September 14, 2022, to September 14, 2023.

The Board recommends voting in favor of these amendments.

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.