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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 (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.
1933 Industries (CSE: TGIF) has established a distribution agreement with CBD Plus to market its Canna Hemp™ wellness products in over 120 retail locations across the Midwest and South U.S. The one-year agreement includes a 45-day trial period, commencing immediately. This partnership aims to enhance Canna Hemp™'s presence in the rapidly growing CBD market, projected to reach $12.4 billion by 2023. 1933 Industries' President, Eugene Ruiz, expressed optimism about the collaboration, emphasizing quality and education in CBD wellness.
1933 Industries Inc. announced the continuation of its private placement financing, initially disclosed on July 17, 2020. This vertically-integrated cannabis company focuses on cultivating and manufacturing cannabis consumer goods across various product formats. It operates through two subsidiaries, managing the entire value chain. The firm holds a 91% stake in the Alternative Medicine Association and 100% of Infused MFG LLC, offering a diverse portfolio of brands and licensing partnerships.