Welcome to our dedicated page for 1933 Inds news (Ticker: TGIFF), a resource for investors and traders seeking the latest updates and insights on 1933 Inds stock.
1933 Industries Inc. reports recurring developments tied to its Nevada cannabis cultivation and production business. The company owns Alternative Medicine Association, its cultivation and production subsidiary serving the medical and adult-use cannabis market in Nevada, and wholesales cannabis flower, pre-rolls and boutique concentrate products under the AMA brand to retail dispensaries across the state.
Company news commonly covers quarterly and annual financial results, gross margin trends, cultivation performance, product demand in the Las Vegas market, and industry conditions such as pricing compression, illicit hemp competition and tourism-related demand. Updates also address capital-structure matters, including unsecured convertible debentures, conversions, repurchases, liquidity needs and business-continuity considerations.
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.
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.