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1933 Industries Inc. (TGIFF) is a Nevada-based cannabis cultivator and producer engaged in the cultivation and manufacturing of a diverse range of cannabis consumer-packaged goods. The company's proprietary brands, including AMA and Level X, offer wholesale flower, pre-rolls, and extracted products in the Nevada market. In addition, the national CBD brand, Canna Hemp™, provides wellness products like tinctures, gummies, and topicals. With a focus on optimizing operational efficiencies and increasing cultivation yields, 1933 Industries continues to innovate and adapt to market trends.
1933 Industries Inc. has announced a binding Letter of Intent to acquire Day One Beverages, a company specializing in CBD-infused sparkling water. The all-stock transaction involves issuing 55 million shares, with an additional 27.5 million share purchase warrants contingent on revenue milestones. The deal, pending regulatory approval, aims for completion by January 31, 2022. 1933 Industries anticipates this acquisition will position them as leaders in the rapidly growing CBD beverage market, projected to expand significantly in the coming years.
1933 Industries (CSE:TGIF)(OTCQB:TGIFF) reported its Q1 2022 financial results, revealing total revenues of $2.5 million, down from $2.7 million year-over-year. However, the company achieved significant improvements: net loss was reduced by 66% to $948,825, while operating expenses fell by 45%. Gross margins improved to 45% from 27%, and adjusted EBITDA loss improved by 78%. Cash balance was $3.2 million at the reporting date. Despite an overall decline in Nevada's cannabis sales, the company remains focused on strategic adjustments to enhance growth.
1933 Industries Inc. reported significant financial improvements for Fiscal 2021, achieving a 72% reduction in net loss to $6.3 million, compared to $22.2 million in Fiscal 2020. Expenses decreased by 53% to $10.6 million, and gross margin rose by 21% to $4.8 million, reflecting better production efficiencies. Revenue for the fiscal year remained stable at $12.0 million. The cash balance increased by 57% to $4.4 million, supporting improved working capital.
1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF), a Nevada-based cannabis company, successfully held its Annual General Meeting (AGM) on November 25, 2021. Shareholders approved key resolutions, including the election of five directors and the appointment of MNP, Chartered Professional Accountants as auditors. The board consists of Mark Baynes, Lisa Capparelli, Brian Farrell, Paul Rosen, and D. Richard Skeith. The company expressed gratitude to shareholders for their ongoing support and provided links for further information on the AGM resolutions.
1933 Industries Inc. (CSE:TGIF, OTCQB:TGIFF) announced its Annual General and Special Meeting of Shareholders scheduled for November 17, 2021. The management information circular detailing the matters to be discussed has been sent to eligible shareholders.
Key management appointments include Mr. Brian Farrell as Interim Chief Financial Officer, Mr. Brent Hilton as Controller, and Mr. Steve Licon as Vice President of Operations. These experienced professionals are expected to strengthen the company's financial and operational capabilities.
1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) announced the voluntary delisting of its 10% Unsecured Convertible Debentures effective August 19, 2021. This decision followed approval from debentureholders during an extraordinary meeting, where they extended the maturity date from September 14, 2021, to September 14, 2022. The Company now enters into an amended indenture with Odyssey Trust to formalize this new maturity date. 1933 Industries focuses on cannabis consumer goods and operates through subsidiaries controlling cultivation and manufacturing.
1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) has secured approval from debentureholders to delist its 10% Unsecured Convertible Debentures, due September 14, 2021, from the Canadian Securities Exchange. The overwhelming support was given at an Extraordinary Meeting held on August 6, 2021. This delisting fulfills a regulatory requirement to extend the debentures' maturity to September 14, 2022. The total issued debentures are 3,703,000, convertible at C$0.10 per share, with a 10% annual interest rate.
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.
1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) has convened an extraordinary meeting for holders of its 10% Senior Unsecured Convertible Debentures scheduled for August 6, 2021, at 10:00 a.m. PT. The purpose is to seek approval for amendments to the Debentures, specifically a potential delisting from the Canadian Securities Exchange to facilitate the extension of the maturity date from September 14, 2021 to September 14, 2022. The meeting will be held virtually, and voting by proxy is encouraged due to COVID-19 restrictions.
1933 Industries (CSE:TGIF)(OTCQB:TGIFF) reported its Q3 2021 financial results, marking its first-ever quarter of profitability with net income of $582,673, compared to a loss of $4.7 million in Q3 2020. Revenues increased 32% year-over-year to $3.4 million, driven by robust demand for premium cannabis products. Adjusted EBITDA reached $1.4 million, significantly improving from a loss of $3.1 million last year. Despite a slight 1% revenue decline from the previous quarter, significant cost reductions of 67% led to a gross margin of 73%. The company also expanded its cultivation facility in Nevada.
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