1933 Industries Inc. (the “Company” or “1933 Industries”) (CSE:TGIF, OTCQX:TGIFF), a vertically integrated cannabis consumer packaged goods company that owns licensed cultivation and manufacturing assets to support its brands, reports that it received both Clark County and Nevada Department of Taxation final approvals for the transfer of its existing cultivation licenses to its new cultivation facility, which completes all the necessary steps to begin the transfer of its cannabis plants.
Mr. Caleb Zobrist, Executive Vice President and Legal Counsel commented, “We have worked closely with county and state authorities to ensure the smooth transfer of our cultivation licenses from the old facility to the new one. Having the licenses in place enables us to commence cultivation operations in the new facility immediately.”
With all site work completed, the Company will begin the transfer of its cannabis plants, including 5,000 clones, and 200 moms to populate the new facility, with the aim of completing 2 full zones or six rooms within a week in its first phase. The clones will vegetate for about four weeks before beginning the flower cycle. “We will start acclimatizing the plants in the new rooms and ensure that all life-support systems, such as temperature, irrigation, light and humidity controls are functioning as designed,” said Mr. Tim Spencer, Director of Cultivation.
Once the new facility is fully operational and all systems are optimized, the Company expects to produce approximately 700-800 lbs. of dried cannabis per month, to be utilized for its AMA branded flower and concentrate products currently sold to licensed dispensaries throughout Nevada. AMA’s live resins and vape pens are the Company’s best selling items due to their versatility and contain cannabis-derived terpenes in a variety of flavours. The new facility will provide better control over the input material for its live resin products and use a flash freezing fresh flower process to preserve monoterpenes that are not found in cured biomass. This process allows the Company to extract a better representation of the full terpene profile of the flower for increased potency and better taste.
Mr. Spencer remarked, “Our 26 in-house plant varieties were carefully selected for their quality and terpene profiles. Our goal is to cultivate premium flower to produce the best concentrates in the Nevada market at reasonable prices. We are also excited to begin working with our world class breeder partner, OG DNA Genetics, as soon as we settle in our new facility.”
About 1933 Industries Inc.
1933 Industries Inc. is a vertically integrated cannabis company with operations in the United States and Canada. 1933 Industries owns licensed medical and adult-use cannabis cultivation and production assets, proprietary hemp-based, CBD infused products, and CBD extraction services. Our proprietary brands include AMA, Canna Hemp, Canna HempX, Canna Fused, Canna Hemp Paws, and Nineteen 33 THC. Birdhouse Skateboards, OG DNA Genetics, Denver Dab Co., The Real Kurupt’s Moon Rocks and Gotti’s Gold are under licensing agreements.
About Canna Hemp
Canna Hemp CBD Relief Cream was named “Best Topical” by Leafy’s Best in State: The Top State Specific Products and Experiences of 2018. Infused’s award-winning transdermal Pain Relief Cream delivers fast-acting targeted relief to areas of discomfort, combating inflammation, arthritis joint pain, backaches, muscles spasms, strains, bruises, cramps, and headaches.
About Canna HempX
Canna Hemp X was named “Best Topicals for Pain” by Herb’s Guide to the Best Cannabis Products on the Planet. Canna Hemp X is a CBD sports recovery cream for athletes to help focus on recovery and wellness. From soothing pain, aiding with muscle spasms, healing assistance for bruises, injuries, or arthritis relief, Canna Hemp X bridges the gap between recovery and top performance.
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.
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