1933 Industries Provides Update on 2024 Debenture Conversions

Rhea-AI Summary

1933 Industries (CSE:TGIF / OTCID:TGIFF) provided an update on its 2024 unsecured convertible debentures. As of December 22, 2025, $1,035,000 of debentures were converted into units and $1,563,000 remain outstanding.

The company said the completed conversions reduced outstanding debt and helped preserve liquidity for ongoing operations. Management stated available cash is needed for day-to-day expenses and that the company does not have sufficient liquidity to repay the remaining debentures in cash without materially impairing operations. The company reported recent positive operating results and net income and will continue to monitor and disclose changes to its capital structure as required.

Positive

• Debenture conversions of $1,035,000 completed by Dec 22, 2025
• Completed conversions reduced outstanding debt and supported liquidity

Negative

• Outstanding 2024 debentures of $1,563,000 remain after conversions
• Company states insufficient liquidity to repay outstanding debentures in cash

VANCOUVER, BC / ACCESS Newswire / December 30, 2025 / 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE:TGIF)(OTCID:TGIFF) provides the following update regarding its unsecured convertible debentures issued in 2024 (the "2024 Debentures").

Debenture Conversion Status

As of December 22, 2025, the conversion deadline set out in the debenture agreement, an aggregate of $1,035,000 of debentures were converted into units of the Company. Following these conversions, $1,563,000 of debentures remain outstanding.

The Company acknowledges and thanks the debenture holders who completed conversions in accordance with the terms of the 2024 Debentures. The completed conversions reduced the Company's outstanding debt obligations and strengthened the Company's balance sheet.

Liquidity and Capital Structure Context

As previously disclosed, the Company's available cash resources are required to support ongoing operations and business continuity. The Company does not have sufficient liquidity to repay the outstanding principal amount of the 2024 Debentures in cash without materially impairing its ability to continue operating.

The Company has recently reported positive operating results and net income; however, maintaining adequate working capital remains critical to funding day-to-day operations. Cash on hand is required for ordinary course operating expenditures, and the Company continues to actively manage its liquidity position.

Management Commentary

"The conversions completed prior to the deadline reduced the Company's outstanding debt and supported the preservation of liquidity required for ongoing operations," said Brian Farrell, Chief Executive Officer and Chairman of the Board.

The Company will continue to monitor its financial position and capital structure and will provide disclosure as required in accordance with applicable securities laws.

About 1933 Industries Inc.

1933 Industries is a Nevada-based licensed producer, focused on the cultivation and extraction of a large portfolio of cannabis consumer products in a variety of formats under its flagship brand, Alternative Medicine Association (AMA). Its product offerings are cultivated at the Company's 68,000 sq. ft. indoor facility and marketed directly to retail dispensaries. AMA branded flower, infused pre-rolls, and in-house boutique concentrates consistently rank as the top products sold in Nevada. For more information, please visit www.1933industries.com

For further information please contact:

Alexia Helgason, VP, Investor Relations
604-728-4407
alexia@1933industries.com

Brian Farrell, Chairman and CEO
brian@1933industries.com

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. Forward-looking information in this news release includes, but is not limited to, statements regarding: the Company's ability (or inability) to repay the 2024 Debentures at maturity; the Company's current intentions regarding the 2024 Debentures and their terms; the Company's exploration of strategic alternatives; and the potential for cross-defaults and other insolvency measures. 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. The Company provides no assurance that it will successfully navigate its current liquidity challenges or that any financing or strategic transaction will be available on acceptable terms or at all to assist the Company with its obligations. Actual results could differ materially from those currently anticipated due to a number of factors and risks including liquidity risks as the Company lacks the cash resources to pay the 2024 Debentures, refinancing risks, cross-default risks resulting from a default under the 2024 Debentures, litigation risks should holders seek to enforce their rights pursuant to the 2024 Debentures and 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.

SOURCE: 1933 Industries Inc.

View the original press release on ACCESS Newswire

FAQ

How much of 1933 Industries debentures converted as of Dec 22, 2025 (TGIFF)?

$1,035,000 of 2024 debentures were converted into units as of Dec 22, 2025.

How much 2024 debenture principal remains outstanding for 1933 Industries (TGIFF)?

$1,563,000 of the 2024 debentures remain outstanding after conversions.

Can 1933 Industries (TGIFF) repay the remaining 2024 debentures in cash?

The company said it does not have sufficient liquidity to repay the outstanding principal in cash without materially impairing operations.

Did 1933 Industries report positive operating results in the debenture update (TGIFF)?

Yes; the company reported recent positive operating results and net income while stressing working capital needs.

What effect did the debenture conversions have on 1933 Industries' balance sheet (TGIFF)?

Management said the conversions reduced debt obligations and helped preserve liquidity for ongoing operations.