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.
News and updates for 1933 Industries Inc. (CSE:TGIF, OTC:TGIFF) focus on its role as a Nevada-based licensed wholesale producer of cannabis consumer products. The company’s releases highlight its cultivation and extraction activities at a 68,000 sq. ft. indoor facility and the performance of its flagship brands, particularly Alternative Medicine Association (AMA) and Level X, in the Nevada market.
Readers can expect news about financial results, where 1933 Industries reports on revenue, gross profit, margins and net income, along with commentary on operational efficiencies and cost-saving initiatives. The company has emphasized periods of positive income, consecutive profitable quarters and improvements in earnings, positioning these updates within the context of the Nevada cannabis market and broader industry conditions.
Another key news theme is the company’s capital structure and convertible debentures. Releases describe the issuance, repurchase and cancellation of unsecured convertible debentures, as well as reminders and guidance to debenture holders regarding conversion deadlines and terms. The company explains how debenture conversions and repurchases affect its outstanding liabilities, liquidity and ability to continue operating, and why conversion is viewed by the board as a constructive outcome for stakeholders.
News items also address regulatory and industry developments, including references to U.S. federal actions related to cannabis scheduling and amendments to the Farm Bill affecting hemp-derived products. 1933 Industries discusses how these changes may influence competition from hemp-derived THC products and create potential opportunities for licensed operators in legal states such as Nevada. For ongoing insight into the company’s operations, financial performance, balance sheet actions and regulatory commentary, this news feed provides a consolidated view of 1933 Industries’ public communications.
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.
1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) announced it received approval for an Adult-Use Distribution License in Nevada, allowing direct transportation of cannabis products to wholesale accounts. This approval enhances supply chain efficiency and reduces distribution costs. Additionally, the company launched Level X, a new ultra-craft cannabis brand focusing on exotic strains, starting with the Milk Monkey strain. The brand targets the Las Vegas market and will offer limited-run strains at select dispensaries.
1933 Industries (CSE:TGIF)(OTCQB:TGIFF), a cannabis consumer packaged goods company, announced it will not amend its 10% Senior Unsecured Convertible Debentures due September 14, 2021, extending maturity to September 14, 2022. The existing indenture will remain unchanged. The Company operates two subsidiaries, managing cultivation and manufacturing of cannabis products.
1933 Industries owns 91% of Alternative Medicine Association and 100% of Infused MFG. Their product suite includes various cannabis formats aimed at both medical and recreational users.
1933 Industries Inc. (CSE:TGIF, OTCQB:TGIFF) has announced that holders of its 10% Senior Unsecured Convertible Debentures, due September 14, 2021, voted to extend the maturity date to September 14, 2022. This amendment was approved at an extraordinary meeting. The effective date is pending regulatory approval from the Canadian Securities Exchange. 1933 Industries, a vertically-integrated cannabis company, is focused on cultivating and manufacturing consumer cannabis goods through its subsidiaries.
1933 Industries reported strong Q2 2021 financial results, with revenues reaching $3.4 million, a 27% increase from the prior quarter. The company achieved a gross margin of 57%, significantly reducing its net loss by 78% to $1.4 million. Adjusted EBITDA loss improved by 98% year-over-year. Major advancements included streamlining operations and expanding premium cannabis product offerings, as well as completing a private placement raising $5 million. However, the pandemic's impact on tourism has affected Canna Hemp™ sales.
1933 Industries Inc. has scheduled an extraordinary meeting for debentureholders to vote on extending the maturity date of its 10% Senior Unsecured Convertible Debentures from September 14, 2021, to September 14, 2022. The meeting will take place virtually on April 14, 2021, at 10:00 a.m. (PT). A Management Information Circular detailing the proposed amendments has been sent to debentureholders and is available on SEDAR and the company's website. The Board encourages support for the extension, aiming to strengthen the company's financial position and optimize performance.
1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) has successfully closed a bought deal private placement, raising C$4,955,052 through the sale of 31,820,000 units at C$0.11 each. The offering includes the issuance of warrants with an exercise price of C$0.16 until March 4, 2023. Additionally, $8.2 million of convertible debentures have been converted into shares, improving the company's balance sheet. The financing supports growth strategies and enhances investor confidence in the company’s position in the cannabis sector.
1933 Industries Inc. (CSE: TGIF, OTCQB: TGIFF) has announced a bought deal private placement to raise C$3,500,200 by issuing 31,820,000 units at C$0.11 each. Each unit includes one common share and a warrant exercisable at C$0.16 for 24 months. The funds will support facility expansion and corporate purposes. Closing is expected around March 4, 2021, with an option for underwriters to purchase an additional 13,640,000 units. This financing aims to strengthen the company’s balance sheet and facilitate growth in Nevada's cannabis market.
1933 Industries (CSE:TGIF)(OTCQX:TGIFF) reported its Q4 2020 and annual financial results, revealing revenues of $12 million, a significant decline from $18 million in Fiscal 2019, largely due to the COVID-19 pandemic. The net loss reached $22.2 million, compared to $19.1 million the previous year. With a cash balance of $2.76 million, down from $17.6 million, the company aims for profitability in 2021. New management has shifted focus to improving operations and product offerings, particularly in the Nevada cannabis market.
1933 Industries Inc. announced the grant of 12,050,000 stock options to its directors, officers, consultants, and employees, as part of its stock option plan. These options are exercisable for five years at a price of $0.10 per share and will vest over a three-year period. The company, focused on cannabis consumer goods, maintains control over its operations through subsidiaries, including the Alternative Medicine Association and Infused MFG. With a diverse product portfolio, 1933 Industries aims to provide high-quality cannabis products.