Proactiveinvestors USA & Canada 1933 Industries https://www.proactiveinvestors.com Proactiveinvestors USA & Canada 1933 Industries RSS feed en Mon, 20 May 2019 05:36:35 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - 1933 Industries subsidiary sells, then leases back Las Vegas cultivation site ]]> https://www.proactiveinvestors.com/companies/news/220332/1933-industries-subsidiary-sells-then-leases-back-las-vegas-cultivation-site-220332.html Alternative Medicine Association, a subsidiary of 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF), completed a sale and lease-back of its Las Vegas cultivation facility.

The company received US$10.45 million for the recently constructed site and its 1.4 acres of land. It expects to receive an additional $750,000 once the facility is entirely completed and has its proper permits.

AMA expects to have all its permits within 45 days and has received a Temporary Occupancy Permit. The lease-back deal is scheduled to last 10 years with option to extend in five-year increments to as long as 20 years.

READ: 1933 Industries names CEO Brayden Sutton chairman of the board

"We are pleased to complete the Sale Transaction and leverage our real estate asset to support our growth,” CEO Brayden Sutton said. “We funded the purchase of the land and construction of the facility without incurring any debt, so the full sale proceeds are available for working capital and to fund acquisitions in key cannabis markets."

1933 is a vertically-integrated medical and adult-use cannabis company with operations in the US and Canada. In addition to controlling 91% of AMA, it owns all of Infused MFG and Spire Global Strategy.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Wed, 15 May 2019 09:24:00 -0400 https://www.proactiveinvestors.com/companies/news/220332/1933-industries-subsidiary-sells-then-leases-back-las-vegas-cultivation-site-220332.html
<![CDATA[News - 1933 Industries is tapping into the Silver state, with plans to grow ]]> https://www.proactiveinvestors.com/companies/news/220166/1933-industries-is-tapping-into-the-silver-state-with-plans-to-grow-220166.html 1933 Industries (CSE:TGIF) (OTCMKTS:TGIF) is a cannabis company with operations in the United States and Canada. Operating via three subsidiaries, 1933 owns licensed medical and recreational cannabis cultivation and production assets, hemp-based, CBD infused products, CBD extraction services and a specialized cannabis advisory firm, that supports clients in security, intelligence and due diligence.

As for the name? The “1933” in the company name is a nod to the year when the prohibition of alcohol ended in the US. 

Vancouver-based 1933 has three subsidiaries. One is Alternative Medicine Association LC, a licensed medical and adult-use cannabis cultivation and production facility in Las Vegas that produces its own line of products and manufactures other company’s brands. AMA’s products include concentrates such as Cake Batter, Crumble and Sugar; a vape pen sold with distillate oil; and several flower strains. 

With more than 42 million visitors each year, Las Vegas is poised to become one of the world’s largest adult-use cannabis markets and 1933 is well-positioned in the silver state. The firm is aiming to establish its foothold in several different parts of the value chain in the North American medical and adult-use cannabis industries and replicate its model in other jurisdictions.

READ: 1933 Industries increases capacity at Las Vegas hemp extraction facility

Another subsidiary is Infused MFG, a Las Vegas-based manufacturer of hemp- and cannabidiol-based medicinal and skin care products. In March, 1933 Industries acquired Spire Global Strategy, an advisory firm in Vancouver that helps client businesses stay secure, compliant and competitive. The company focuses on four areas of concern for cannabis companies: international production, sales and import-export licensing agreements; domestic licensing; public policy development; and design of large-scale hemp, cannabis and cannabidiol projects for clients.

How it is doing

1933 has had a busy few months, expanding its capacity. The firm is ramping up cultivation to achieve full production capacity at its new facility -- a newly built 67,750 sq/ft cultivation facility in Las Vegas. The facility is divided into five different zones with 15 bloom rooms and four veg rooms.

The firm is also establishing a new hemp processing facility in Nevada, to produce CBD extracts for full spectrum oils, distillates and isolates. It's one of the largest in Nevada, and the company has invested heavily in the design of its customized equipment to provide maximum capacity and efficiency. 

“We believe that the time and capital invested in the R&D (research and development) of the facility will provide much larger returns for shareholders in the future,” said CEO Brayden Sutton. 

During the last year, demand for hemp/CBD products has significantly increased and this is a trend that is expected to continue, especially after passing of the 2018 Farm Bill. This is good news for 1933, which is poised to capitalize on the demand having spent years building a foundation in the space. The firm has a strong foothold in both legalized cannabis from cannabidiol (CBD) and tetrahydrocannabinol (THC) products.

In April, it announced the launch of new cannabis brand products with hip-hop legend, Kurupt. The product line, known as Gotti’s Gold, debuted at the NuWu Cannabis Marketplace celebration in Las Vegas, sponsored by the firm's brand, Canna Hemp.

It also announced the launch of Canna Fused, a line of tetrahydrocannabinol (THC) and cannabidiol (CBD) wellness products. Developed by the company's subsidiaries, Alternative Medicine Association and Infused MFG, the Canna Fused line features vape pens, cartridges, lotions and lip balms, mirroring the Canna Hemp suite of products.

Inflection points

Demand for hemp/CBD products has significantly increased and is a trend that is expected to continue, especially after passing of the 2018 Farm Bill and 1933 is well-positioned to capitalize on the boom. There is a compelling opportunity in hemp-derived CBD and high-quality CBD-branded products.

The firm is blazing new trails as it continues its expansion, notably its new lab facility for secondary extraction, distillation, isolation and purification of CBD for bulk sales to other product manufacturers and for internal use, which could have a signfiicant impact on its bottom line. 

Contact Katie Lewis at katie@proactiveinvestors.com

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Mon, 13 May 2019 17:38:00 -0400 https://www.proactiveinvestors.com/companies/news/220166/1933-industries-is-tapping-into-the-silver-state-with-plans-to-grow-220166.html
<![CDATA[News - 1933 Industries names CEO Brayden Sutton chairman of the board ]]> https://www.proactiveinvestors.com/companies/news/219716/1933-industries-names-ceo-brayden-sutton-chairman-of-the-board-219716.html The president and CEO of 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) has another hat to wear, the company announced Friday.

Brayden Sutton, who has led the cannabis cultivator since October, was named chairman of the board.

Sutton will receive 200,000 bonus shares at C$0.50 per share instead of a cash bonus, the company said.

READ: 1933 Industries increases capacity at Las Vegas hemp extraction facility

Meanwhile, the Vancouver company is looking for European investors. 1933 announced a consulting deal with Westmount Capital, which will provide investor relations services in Europe.

The firm will receive 100,000 stock options exercisable at C$0.55 per share in exchange for introducing the company to institutional investors, fund managers and family offices, among other promotion.

Shares of 1933 held at C$0.45 on the CSE and slipped 3.6% to US$0.33 on OTC markets.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Mon, 06 May 2019 07:54:00 -0400 https://www.proactiveinvestors.com/companies/news/219716/1933-industries-names-ceo-brayden-sutton-chairman-of-the-board-219716.html
<![CDATA[News - 1933 Industries increases capacity at Las Vegas hemp extraction facility ]]> https://www.proactiveinvestors.com/companies/news/219281/1933-industries-increases-capacity-at-las-vegas-hemp-extraction-facility-219281.html 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) announced Monday that it had increased throughput capacity at its Las Vegas hemp processing laboratory as work progresses to open the facility by the end of the year.

The hemp laboratory’s increased capacity is now an estimated 68,000 kilograms of hemp biomass per month, producing around 5,000 kilograms of oils or 4,500 kilograms of CBD isolate.

The cannabis investment company is aiming to launch one of Nevada’s largest hemp extraction facilities with a custom-built ethanol extraction system that provides the ability to isolate CBD, THC and several other cannabinoids, including oils.

READ: 1933 Industries launches Canna Fused products in Nevada at NuWu 420 celebration event in Las Vegas

According to 1933 president CEO Brayden Sutton, the company has invested heavily in the design of its customized equipment to provide maximum capacity and efficiency. “We believe that the time and capital invested in the R&D of the facility will provide much larger returns for shareholders in the future,” he said in a statement.

The hemp lab will also have the flexibility to isolate cannabinoids that are emerging in popularity and uses such as CBN and CBG at commercial scale volumes, said US COO Chris Rebentisch. “Our intention for this new vertical is to utilize all isolates in the manufacturing of our own proprietary consumer branded goods, securing the supply of raw materials, increasing our margins and benefiting from a recurring revenue stream from the sale to other manufacturers,” he said in a statement.

Headquartered in Vancouver, 1933 is a cannabis company with operations in the United States and Canada. Operating via three subsidiaries, 1933 owns licensed medical and recreational cannabis cultivation and production assets, hemp-based, CBD infused products, CBD extraction services and a specialized cannabis advisory firm.

Shares of 1933 Industries were up 2% at C$0.48 in Canada and yp over 3% at US$0.36 in the US on Monday aftternoon.

--Updates share price--

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Mon, 29 Apr 2019 09:12:00 -0400 https://www.proactiveinvestors.com/companies/news/219281/1933-industries-increases-capacity-at-las-vegas-hemp-extraction-facility-219281.html
<![CDATA[News - 1933 Industries launches Canna Fused products in Nevada at NuWu 420 celebration event in Las Vegas ]]> https://www.proactiveinvestors.com/companies/news/218868/1933-industries-launches-canna-fused-products-in-nevada-at-nuwu-420-celebration-event-in-las-vegas-218868.html 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIF) announced the launch Thursday of Canna Fused, a line of tetrahydrocannabinol (THC) and cannabidiol (CBD) wellness products for the prized Nevada market.

Developed by the company's subsidiaries, Alternative Medicine Association and Infused MFG, the Canna Fused line will launch on April 20, in Nevada, featuring vape pens, cartridges, lotions and lip balms, mirroring the Canna Hemp suite of products.

READ: 1933 Industries is poised to move into new cultivation facility in Nevada

Based on proprietary, chemical-free formulations and driven by consumer demand, the line is infused with CBD and THC in a variety of ratios. Canna Fused products feature organic ingredients, said the company and the cannabis-derived terpenes, are “cruelty-free, non-GMO, gluten-free, bioavailable and third-party lab tested for quality assurance,” with traceability from origin to sale.

NuWu 420 celebration​

NuWu Cannabis Marketplace is the largest recreational marijuana marketplace worldwide. The building spans nearly 16,000 square feet with 170 feet of display counters dedicated to recreational marijuana. It is hosting the first annual 420 two-day event in Vegas starting on Friday.   

Sponsored by Canna Hemp, the event will feature music by hip-hop artist Kurupt, competitions with skateboarders Torey Pudwill, TJ Rogers, Jordan Maxham, Mikey Haywood, Tony Tave, Rag Doll and Grizzly Gang, and pop-up tents with free swag featuring the company's brands Canna Hemp, Canna Hemp X, Canna Hemp Paws, AMA, Canna Fused, Gotti's Gold, and The Real Kurupt Moonrocks.

Canna Hemp X new products launch​

The company's top performing Canna Hemp X CBD sports recovery line will be introducing four new products: CBD Recovery Elixir (Post-Work Out), Endurance Elixir (Pre-Work Out) and two lip balms.

"Our company's focus is on the health and wellness of our customers and our products are specifically designed to combine the medicinal benefits of CBD and THC into all-natural products that aid in better living," Chris Rebentisch, founder of Infused MFG, a1933 subsidiary, said in a statement. "Our impressive portfolio of unique brands is growing with the addition of the Canna Fused suite of offerings and we continue to build our collection of high-quality hemp and CBD branded products that have wide appeal and are now available across the United States."

Headquartered in Vancouver, 1933 is a cannabis company with operations in the United States and Canada. Operating via three subsidiaries, 1933 owns licensed medical and recreational cannabis cultivation and production assets, hemp-based, CBD infused products, CBD extraction services and a specialized cannabis advisory firm.

In addition to its ownership of Infused MFG, the company owns 91% of Alternative Medicine Association and 100% of Spire Global Strategy.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

 

 

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Thu, 18 Apr 2019 10:07:00 -0400 https://www.proactiveinvestors.com/companies/news/218868/1933-industries-launches-canna-fused-products-in-nevada-at-nuwu-420-celebration-event-in-las-vegas-218868.html
<![CDATA[Media files - 1933 Industries adds another major brand following deal with hip-hop artist Kurupt ]]> https://www.proactiveinvestors.com/companies/stocktube/13026/1933-industries-adds-another-major-brand-following-deal-with-hip-hop-artist-kurupt-13026.html Tue, 16 Apr 2019 14:51:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13026/1933-industries-adds-another-major-brand-following-deal-with-hip-hop-artist-kurupt-13026.html <![CDATA[News - 1933 Industries to launch cannabis brand with Hip Hop legend Kurupt ]]> https://www.proactiveinvestors.com/companies/news/218602/1933-industries-to-launch-cannabis-brand-with-hip-hop-legend-kurupt-218602.html 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIF) is teaming up with Hip Hop legend Kurupt to develop a brand of cannabis products set to launch on April 20.

The product line, known as Gotti’s Gold, will debut at the NuWu Cannabis Marketplace celebration in Las Vegas, sponsored by the British Columbia cannabis producer's brand Canna Hemp.

READ: 1933 Industries is poised to move into new cultivation facility in Nevada

Products include flower, pre-rolled cigarettes, THC and cannabidiol cartridges and Gold Nuggets, a variation of the cannabis moon rocks that Kurupt helped make famous. 

"We've teamed-up once again with the legendary Kurupt and we are proud to continue to build on our relationship with the launch of Gotti's Gold in the active Las Vegas market," Chief Operating Officer Joe Bleackley said.

Kurupt, the former Executive Vice President of Death Row Records, joined the cannabis sectors in 2014, when he created Kurupt’s Moon Rocks. Moon rocks, including the Gold Nuggets of Gotti’s Gold, are made by rolling a bud of cannabis flower in hash oil and coating it with kief, a THC-packed cannabis resin.

The licensing agreement is a partnership between Gotti's Gold Ex LLC and Alternative Medicine Association, the second time 1933 has partnered with AMA. Kurupt has also worked with the association, launching The Real Kurupt’s Moonrocks in 2017.

Shares slipped 2% to C$0.48 on the CSE and 2.4% to US$0.36 on OTC markets. 

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Mon, 15 Apr 2019 09:25:00 -0400 https://www.proactiveinvestors.com/companies/news/218602/1933-industries-to-launch-cannabis-brand-with-hip-hop-legend-kurupt-218602.html
<![CDATA[News - 1933 Industries is poised to move into new cultivation facility in Nevada ]]> https://www.proactiveinvestors.com/companies/news/218337/1933-industries-is-poised-to-move-into-new-cultivation-facility-in-nevada-218337.html 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF), the cannabis company, told investors Wednesday that its subsidiary Alternative Medicine Association is preparing to move into its new cannabis cultivation facility as its construction wraps up.

Grow equipment is expected to be installed at the Las Vegas cannabis producer’s new facility in Nevada three to four weeks after a temporary certificate of occupancy is issued by state regulators there at the end of April.

"The new facility is a vital component of the company's strategy, ensuring the consistent supply of cannabis flower and input material for our AMA branded concentrates and white label production,” Chris Rebentisch, founder of Infused MFG, another 1933 subsidiary, said in a statement. “The increased capacity, coupled with efficiencies in production and economies of scale will undoubtedly improve yields and provide higher margins."

READ: 1933 Industries strikes deal to purchase remaining 9% of Infused MFG subsidiary

Moving forward, the Vancouver company intends to work with Nevada’s various local and state departments including Health & Safety, Air Quality, Business License and Fire Prevention, to receive final inspection approvals, which will trigger a certificate of occupancy.

The Company has also submitted requests to Nevada regulators to approve the change of location of AMA’s cultivation licenses to the new cultivation facility. The applications have been submitted and are under review, and are expected to be approved shortly after receipt of a certificate of occupancy.

After regulators sign off on the certificate of occupancy, AMA will focus on ramping up cultivation to achieve full production capacity at its new facility, which is divided into five different zones with 15 bloom rooms and four veg rooms.

READ: 1933 Industries shares rise on exclusive licensing agreement to sell cannabis products in Nevada

The cannabis plants will move into a new zone every 12 days during their life cycle, and after 90-120 days, the facility is expected to be utilized and operating at full capacity.

Headquartered in Vancouver, 1933 is a cannabis company with operations in the United States and Canada. Operating via three subsidiaries, 1933 owns licensed medical and recreational cannabis cultivation and production assets, hemp-based, CBD infused products, CBD extraction services and a specialized cannabis advisory firm.

In addition to its ownership of Infused MFG, the company owns 91% of Alternative Medicine Association and 100% of Spire Global Strategy.

1933 shares traded 2.9% higher at US$0.39 in morning trade Wednesday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Wed, 10 Apr 2019 09:55:00 -0400 https://www.proactiveinvestors.com/companies/news/218337/1933-industries-is-poised-to-move-into-new-cultivation-facility-in-nevada-218337.html
<![CDATA[Media files - Buds & Duds: Cannabis stocks slide steeply as investors pause; 1933 Industries shares pop on Nevada licensing deal ]]> https://www.proactiveinvestors.com/companies/stocktube/12936/buds--duds-cannabis-stocks-slide-steeply-as-investors-pause-1933-industries-shares-pop-on-nevada-licensing-deal-12936.html Tue, 09 Apr 2019 15:39:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12936/buds--duds-cannabis-stocks-slide-steeply-as-investors-pause-1933-industries-shares-pop-on-nevada-licensing-deal-12936.html <![CDATA[News - Buds & Duds: Cannabis stocks slide steeply as investors pause; 1933 Industries shares pop on Nevada licensing deal ]]> https://www.proactiveinvestors.com/companies/news/218263/buds--duds-cannabis-stocks-slide-steeply-as-investors-pause-1933-industries-shares-pop-on-nevada-licensing-deal-218263.html it was a dark day for most cannabis stocks Tuesday, with the majority tumbling on the back of broader stock market drops. Investors are also awaiting the fate of the STATES Act, which would protect the cannabis industry in legal states. 

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was down 3% to 296.10. The Horizons Marijuana Life Sciences Index ETF was down 2.2% at C$20.93.

Buds

1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) bucked the trend on Tuesday, with its shares jumping after it announced subsidiary Alternative Medicine Association (AMA) has agreed to an exclusive licensing deal with a leading cannabis brand to cultivate, manufacture, sell and distribute cannabis products in Nevada.

On Monday, 1933 Industries also announced a two-year licensing agreement between subsidiary Infused MFG LLC and House of Hawk LLC for the launch of several co-branded CBD wellness products in North America.

READ: 1933 Industries shares rise on exclusive licensing agreement to sell cannabis products in Nevada

The company will launch hemp and CBD recovery creams and lotions in collaboration with famed American skateboarder Tony Hawk’s Birdhouse Skateboards.

Shares of 1933 Industries jumped 6% on Tuesday morning, settling up 2% by Tuesday afternoon. Shares were up 2.0% at C$0.51 in Toronto and up 2.9% at US$0.39 in New York. 

Also on the rise Tuesday was RedFund Capital Corp (CSE:LOAN) (OTC:PNNRF) which saw its shares up 2.9% at C$0.18 in Toronto.

READ: Redfund Capital provides $1M in financing to fund Cannaki Beverage

The cannabis-focused investment firm recently announced it will provide financing of about US$1 million to Cannaki Beverage Inc to help fund the beverage company’s expansion.

Further to that, the Vancouver-based company recently formed a strategic alliance with Cannabis Mercantile Exchange, a hemp auction platform.

Duds

There were more duds than buds on Tuesday, with broad drops across the board.

Top detractors included Planet 13 Holdings Inc (CSE:PLTH), which was down 6.7% at C$3.04. The company runs the largest cannabis dispensary in the world, hosted in Las Vegas. 

Hemp company Isodiol International Inc (CSE:ISOL) shares dropped on Tuesday, down 6.3% at C$1.35 in Toronto and off 5.4% at US$1.02 in New York. 

Other detractors Tuesday included OrganiGram Holdings (CVE:OGI) (OTCMKTS:OGRMF), which was down 4.8% at US$6.81 in New York and off 4.6% at C$9.07 in Toronto. 

 

Contact Katie Lewis at katie@proactiveinvesors.com

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Tue, 09 Apr 2019 10:59:00 -0400 https://www.proactiveinvestors.com/companies/news/218263/buds--duds-cannabis-stocks-slide-steeply-as-investors-pause-1933-industries-shares-pop-on-nevada-licensing-deal-218263.html
<![CDATA[News - 1933 Industries shares rise on exclusive licensing agreement to sell cannabis products in Nevada ]]> https://www.proactiveinvestors.com/companies/news/218250/1933-industries-shares-rise-on-exclusive-licensing-agreement-to-sell-cannabis-products-in-nevada-218250.html 1933 Industries Inc's (CSE:TGIF) (OTCMKTS:TGIFF) subsidiary Alternative Medicine Association (AMA) announced Tuesday that it had agreed to an exclusive licensing deal with a leading cannabis brand to cultivate, manufacture, sell and distribute cannabis products in Nevada.

Share of 1933 Industries rose over 2% in Canada to C$0.51 and nearly 3% to US$0.39 on Tuesday morning.

AMA and its partner OG DNA Genetics Inc (DNA) will co-brand a variety of cannabis products for a two-year term in Nevada. DNA’s expertise in research and development of cannabis genetics will complement AMA’s cultivation of a consistent phenotype strain of high-quality cannabis flower, which is grown at AMA’s new Las Vegas facility.

READ: 1933 Industries, Birdhouse Skateboards launch co-branded hemp, CBD products for action-sports market

“We are excited for the opportunity to partner with such a world-renowned brand in our new purpose-built, advanced cultivation facility,” said Chris Rebentisch, USA COO and Founder of Infused. “Through our strong distribution networks where our products are sold in state-wide dispensaries, AMA controls one of the largest market shares for wholesale branded goods in the state of Nevada.”

DNA’s genetics have won more than 200 awards at major, global cannabis events including the High Times Trailer Blazers Award for contributions made towards uniting entrepreneurship, politics and medicine.

“We have always looked at Vegas as a key market and wanted to make sure we had the right partner,” said on Morris, co-founder of DNA. “With 1933's new state of the art facility and their commitment to education and quality standards, we will really be able to showcase our work and bring the very best in California cannabis to Nevada.”

--Updates with share price--

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Tue, 09 Apr 2019 09:55:00 -0400 https://www.proactiveinvestors.com/companies/news/218250/1933-industries-shares-rise-on-exclusive-licensing-agreement-to-sell-cannabis-products-in-nevada-218250.html
<![CDATA[News - 1933 Industries, Birdhouse Skateboards launch co-branded hemp, CBD products for action-sports market ]]> https://www.proactiveinvestors.com/companies/news/218163/1933-industries-birdhouse-skateboards-launch-co-branded-hemp-cbd-products-for-action-sports-market-218163.html 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) announced Monday a two-year licensing agreement between subsidiary Infused MFG LLC and House of Hawk LLC for the launch of several co-branded CBD wellness products in North America.

Headquartered in Vancouver, 1933 is a cannabis company with operations in the US and Canada. Operating via three subsidiaries, 1933 owns licensed medical and recreational cannabis cultivation and production assets, hemp-based, CBD infused products, CBD extraction services and a specialized cannabis advisory firm.

DEEP DIVE: 1933 Industries stokes Las Vegas capacity expansion in anticipation of medical and recreational cannabis product demand

1993 Industries views the action sports market as “a champion” of the potential benefits of CBD. Infused MFG has been a leader in this segment since launching its Canna Hemp X line in 2018 led by brand manager David Hafsteinsson.

Infused MFG will launch a slew of co-branded products, including CBD recovery creams and lotions, as well as hemp-only recovery creams and lotions in collaboration with Birdhouse Skateboards which is wholly owned by House of Hawk, a skateboard company co-founded in 1992 by star American skateboarder Tony Hawk. The products will be sold under the Canna Hemp, Canna Hemp X and Birdhouse Skateboards names.

The Canna Hemp X line has been formulated with muscle recovery in mind exploiting CBD's anti-inflammatory and pain relief natural properties to speed up recovery.

"It's truly an honor to be working with Tony Hawk's Birdhouse Skateboards brand and their incredible organization,” said Infused USA COO and founder Chris Rebentisch. “The opportunity of offering our sports recovery products under a partnership with Hawk's brand Birdhouse adds credence to our brand. Tony is an internationally recognized action sports figure and responsible for fuelling the growth of skateboarding as a professional sport."

READ: 1933 Industries' Canna HempX products featured in top mixed martial arts gym in Las Vegas

Rebentisch said the company viewed the “action sports vertical” as an “underserved market” which held great potential for sales.  

"We're excited to be a part of this new movement that is becoming more recognized as a healthy alternative to recovering from the aches and pains that we regularly incur in the action sports world,” said Tony Hawk, co-founder of Birdhouse Skateboards. “And we couldn't be happier to join forces with Canna Hemp, an established and trusted partner with an expertise in this market."

Vertically integrated 1933 Industries owns 91% of Alternative Medicine Association and fully owns both Infused MFG and Spire Global Strategy.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

 

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Mon, 08 Apr 2019 09:40:00 -0400 https://www.proactiveinvestors.com/companies/news/218163/1933-industries-birdhouse-skateboards-launch-co-branded-hemp-cbd-products-for-action-sports-market-218163.html
<![CDATA[News - 1933 Industries Inc reports "steady" 54% growth in sales revenues for 2Q 2019 ]]> https://www.proactiveinvestors.com/companies/news/217691/1933-industries-inc-reports--steady--54-growth-in-sales-revenues-for-2q-2019-217691.html 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) released its second-quarter 2019 financial results on Monday, reporting a 54% bump in sales revenues over the same time period in 2018.

The company reported revenues of C$8.3 million for the three months ended January 31, 2019, up from C$5.4 million over the same period in 2018. This included consolidated revenues of C$3.7 million. 

1933 Industries' Alternative Medicine Association (AMA) segment reported sales revenue of C$1.29 million, while its Infused MFG segment reported C$2.4 million revenue. 

Headquartered in Vancouver, 1933 is a cannabis company with operations in the United States and Canada. Operating via three subsidiaries, 1933 owns licensed medical and recreational cannabis cultivation and production assets, hemp-based, CBD infused products, CBD extraction services and a specialized cannabis advisory firm.

READ: 1933 Industries closes deal to purchase remainder of Infused MFG subsidiary

On Monday, the firm also announced that it has closed its agreement to purchase the remaining 9% of its Infused MFG subsidiary, which it doesn’t already own, for almost C$1.25 million. Infused MFG Business is a Nevada-based firm that provides legal hemp-derived and cannabidiol (or CBD) products, and 1933 Industries, formerly known as Friday Night, bought a 91% stake in the company in 2017.

For the second quarter, the firm reported a net loss of C$6.1 million, or C$0.03 a share. It reported a cash balance of C$8,811,807 at the end of the period

"Year to date, the company has experienced steady 54% growth in sales revenues over the same period last year. Sales in Q2 were lower than in the previous quarter due to the performance of our AMA subsidiary, which experienced slower than expected sales due to challenges with yield and access to supply. We are seeing dramatic increases in yield and quality since appointing an experienced master grower," said Chris Rebentisch, USA COO and Founder of Infused in a statement. 

"AMA will benefit from moving into our new sophisticated cultivation facility. With the additional cultivation capacity in the new building, AMA will not have to rely on third party input material, which is expected to result in increased yields, increased quality, and higher margins," added Rebentisch. "Infused continued to deliver exceptional results as it expanded sales of its wellness line of Canna Hemp™ branded products across the United States."

Shares of 1933 Industries were up 7.3% at C$0.59 in Toronto on Monday. 

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Mon, 01 Apr 2019 17:20:00 -0400 https://www.proactiveinvestors.com/companies/news/217691/1933-industries-inc-reports--steady--54-growth-in-sales-revenues-for-2q-2019-217691.html
<![CDATA[News - 1933 Industries closes deal to purchase remainder of Infused MFG subsidiary ]]> https://www.proactiveinvestors.com/companies/news/217667/1933-industries-closes-deal-to-purchase-remainder-of-infused-mfg-subsidiary-217667.html 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) said Monday it has closed on its agreement to purchase the remaining 9% of its Infused MFG subsidiary, which it doesn’t already own, for almost C$1.25 million.

Infused MFG Business is a Nevada-based firm that provides legal hemp-derived and cannabidiol (or CBD) products, and 1933 Industries, formerly known as Friday Night, bought a 91% stake in the company in 2017.

READ: 1933 Industries VP recognized among Women of Weed by High Times magazine

Under the deal’s terms, 1933 will pay Infused just under C$1.25 million by issuing a promissory note with a principal value of US$940,000 and a maturity date of December 1, 2019, as well as issuing 7 million shares at a deemed price of C$0.45.

The note will carry an interest rate of 6% per year and interest payments will be due on the first of each month until repaid.

The deal’s price also includes 1933's issuance of 1 million two-year warrants with a strike price of C$0.53.

READ: 1933 Industries' Canna HempX products featured in top mixed martial arts gym in Las Vegas

Headquartered in Vancouver, 1933 is a cannabis company with operations in the United States and Canada. Operating via three subsidiaries, 1933 owns licensed medical and recreational cannabis cultivation and production assets, hemp-based, CBD infused products, CBD extraction services and a specialized cannabis advisory firm.

In addition to its ownership of Infused MFG, the company owns 91% of Alternative Medicine Association and 100% of Spire Global Strategy.

1933 shares traded 2.2% higher to hit US$0.42 in OTC trading in New York on Monday and flat in Canadian trading at C$0.55.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Mon, 01 Apr 2019 10:32:00 -0400 https://www.proactiveinvestors.com/companies/news/217667/1933-industries-closes-deal-to-purchase-remainder-of-infused-mfg-subsidiary-217667.html
<![CDATA[News - 1933 Industries VP recognized among Women of Weed by High Times magazine ]]> https://www.proactiveinvestors.com/companies/news/217554/1933-industries-vp-recognized-among-women-of-weed-by-high-times-magazine-217554.html 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF), the vertically-integrated cannabis company, announced that its US vice president of sales, Ester Vigil, was named among 21 honorees at the Women in Weed awards in Beverly Hills, California.

The 2019 recipients are individuals who have made significant change, progress or advances in their respective field in the cannabis industry as selected by media outlet High Times.

READ: 1933 Industries strikes deal to purchase remaining 9% of Infused MFG subsidiary

A skilled marketer with more than 17 years of experience in the cosmetics industry, Vigil leads all of 1933’s sales initiatives, client management and marketing products. She has been instrumental in the growth of the Canna Hemp line of wellness products to over 600 retail outlets in the US.

“I am extremely honored to be part of such an esteemed group of forward thinkers, innovators and trailblazers in the cannabis industry,” Vigil said in a statement.

1933 Industries owns licensed medical and adult-use cannabis cultivation and production assets in Canada and the United States.

Shares of 1933 Industries traded at C$0.53 on Friday in Toronto. In the US, its shares were up nearly 3% to US$0.41 by midday.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Fri, 29 Mar 2019 12:04:00 -0400 https://www.proactiveinvestors.com/companies/news/217554/1933-industries-vp-recognized-among-women-of-weed-by-high-times-magazine-217554.html
<![CDATA[News - 1933 Industries strikes deal to purchase remaining 9% of Infused MFG subsidiary ]]> https://www.proactiveinvestors.com/companies/news/217444/1933-industries-strikes-deal-to-purchase-remaining-9-of-infused-mfg-subsidiary-217444.html 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) on Thursday said it has struck a deal to purchase the remaining 9% of its Infused MFG subsidiary, which it doesn’t already own, for almost C$1.25 million.

Infused MFG Business is a Nevada-based firm that provides legal hemp-derived and cannabidiol (or CBD) products, and 1933 Industries, formerly known as Friday Night, bought a 91% stake in the company in 2017.

READ: 1933 Industries Inc raises C$4.5M in private placement, thanks to single investor Paul Rosen

“Acquiring the additional 9% positions us to fully benefit from the future growth potential of Infused,” said Brayden Sutton, CEO of 1933 in a statement.

Under the deal’s terms, 1933 will pay Infused just under C$1.25 million by issuing a promissory note with a principal value of US$940,000 and a maturity date of December 1, 2019 as well as issuing 7 million shares at a deemed price of C$0.45.

The note will carry an interest rate of 6% per year and interest payments will be due on the first of each month until repaid.

READ: 1933 Industries recruits mixed-martial arts fighter Sarah Moras to promote Canna HempX sports recovery cream

Headquartered in Vancouver, 1933 is a cannabis company with operations in the United States and Canada. Operating via three subsidiaries, 1933 owns licensed medical and recreational cannabis cultivation and production assets, hemp-based, CBD infused products, CBD extraction services and a specialized cannabis advisory firm.

In addition to its ownership of Infused MFG, the company owns 91% of Alternative Medicine Association and 100% of Spire Global Strategy.

1933 shares were trading a 1.92% higher at C$0.53 in afternoon trade in Canada on Thursday.

Contact ellen kelleher at ellen@proactiveinvestors.com

-- This story is updated to reflect latest share price movement --

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Thu, 28 Mar 2019 10:08:00 -0400 https://www.proactiveinvestors.com/companies/news/217444/1933-industries-strikes-deal-to-purchase-remaining-9-of-infused-mfg-subsidiary-217444.html
<![CDATA[Media files - Buds & Duds: Aurora gains as Cowen impressed with Nelson Peltz investment ]]> https://www.proactiveinvestors.com/companies/stocktube/12627/buds--duds-aurora-gains-as-cowen-impressed-with-nelson-peltz-investment-12627.html Fri, 15 Mar 2019 15:03:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12627/buds--duds-aurora-gains-as-cowen-impressed-with-nelson-peltz-investment-12627.html <![CDATA[News - 1933 Industries Inc raises C$4.5M in private placement, thanks to single investor Paul Rosen ]]> https://www.proactiveinvestors.com/companies/news/216572/1933-industries-inc-raises-c45m-in-private-placement-thanks-to-single-investor-paul-rosen-216572.html 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) said Friday it has closed a private placement which raised C$4.5 million, thanks to an investment by a single investor Paul Rosen.

Under the offering’s terms, the cannabis company issued 10 million units at C$0.45 per unit, which each consist of one common share and one share purchase warrant. Each warrant allows for the purchase of one share at a price of $0.50 per share for a period of 24 months following today’s closing date of the offering, subject to 1933’s acceleration right.

The offering, which will be used for general working capital, was fully subscribed by Rosen, a co-founder and former CEO of PharmaCan Capital Corp, which underwent a rebranding to become Cronos Group Inc.

READ: 1933 Industries recruits mixed-martial arts fighter Sarah Moras to promote Canna HempX sports recovery cream

“We are extremely pleased to welcome Paul as a strategic investor in the company,” said Mr Brayden Sutton, 1933’s CEO in a statement. “Paul has been involved with some of the most iconic cannabis businesses in Canada and across the world. … Paul shares our view of the rising opportunities in the US as more states develop regulations and open up cannabis markets.”

Rosen is also the founder and former CEO & Chairman of Tidal Royalty Corporation and sits on the boards of iAnthus Capital Holdings, Hill Street Beverages and High Tide Ventures.

Headquartered in Vancouver, 1933 Industries is a cannabis company with operations in the United States and Canada. Operating via three subsidiaries, 1933 owns licensed medical and recreational cannabis cultivation and production assets, hemp-based, CBD infused products, CBD extraction services and a specialized cannabis advisory firm.

The company owns 91% of both Alternative Medicine Association and Infused MFG and 100% of Spire Global Strategy.

1933 shares were trading 2% higher at C$0.52 in Canadian trade on Friday morning.

Contact Ellen Kelleher at ellen@proactiveinvestors.com 

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Fri, 15 Mar 2019 10:16:00 -0400 https://www.proactiveinvestors.com/companies/news/216572/1933-industries-inc-raises-c45m-in-private-placement-thanks-to-single-investor-paul-rosen-216572.html
<![CDATA[News - Cannabis company 1933 Industries re-elects six board members at special meeting ]]> https://www.proactiveinvestors.com/companies/news/216322/cannabis-company-1933-industries-re-elects-six-board-members-at-special-meeting-216322.html 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) said Tuesday that six directors were re-elected at its recent annual meeting.

The directors returning for service on the company’s board are Brayden Sutton, Cam Watt, Rick Skeith, Brian Farrell, Chris Rebentisch, and Andrew Richards.

DEEP DIVE: 1933 Industries stokes Las Vegas capacity expansion in anticipation of medical and recreational cannabis product demand

In addition, a resolution was approved indicating a quorum when at least 10% of the voting rights attached shares entitled to be voted at the meeting are present in person or represented by proxy.

Shares of 1933 slipped C$0.01 to C$0.50 in Tuesday’s Canadian trading. They were down US$0.01 to US$0.38 on the OTC Markets.

The Vancouver-based company owns licensed medical and adult-use cannabis cultivation and production assets.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Tue, 12 Mar 2019 15:22:00 -0400 https://www.proactiveinvestors.com/companies/news/216322/cannabis-company-1933-industries-re-elects-six-board-members-at-special-meeting-216322.html
<![CDATA[News - 1933 Industries releases short film touting the history and benefits of marijuana ]]> https://www.proactiveinvestors.com/companies/news/215559/1933-industries-releases-short-film-touting-the-history-and-benefits-of-marijuana-215559.html 1933 Industries Inc (CSE: TGIF) (OTCQX: TGIFF) released its new educational short film, The Dawn of a New Era by documentary filmmaker Atlee James.

The film tells the story of weed from the dawn of civilization through its prohibition to the current trend pushing toward legalization. The film hopes to educate and destigmatize cannabis by revisiting prohibition and its complex history based on misinformation and state propaganda.

"While perceptions of the plant continue to evolve, we are witnessing a post-prohibition booming industry, where the medicinal nature of the cannabis plant is being recognized," said 1933 Industries CEO Brayden Sutton. "The trends in the cannabis market are akin to those at the end of alcohol prohibition, where the rapid growth of new companies, brands, jobs, and investment have the potential to create an industry as large as that of alcohol today."

READ: 1933 Industries' Canna HempX products featured in top mixed martial arts gym in Las Vegas

When prohibition was instituted in 1919, there was a large alcohol economy that was suddenly made illegal. An estimated 200,000 saloons and breweries were shut down by the passage of the 18th Amendment and consumers turned to black market speakeasies to consume alcohol.

Marijuana prohibition has had a similar impact. The film pushes for the mainstreaming of marijuana highlighting that the second chemical in marijuana which is cannabidiol (CBD) is potentially effective in combating psychosis, anxiety, addiction, epilepsy among a host of other medical issues.

1933 is a cannabis company with operations in the US and Canada. The company owns 91% of both Alternative Medicine Association and Infused MFG and 100% of Spire Global Strategy.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Thu, 28 Feb 2019 13:17:00 -0500 https://www.proactiveinvestors.com/companies/news/215559/1933-industries-releases-short-film-touting-the-history-and-benefits-of-marijuana-215559.html
<![CDATA[News - 1933 Industries' Canna HempX products featured in top mixed martial arts gym in Las Vegas ]]> https://www.proactiveinvestors.com/companies/news/215546/1933-industries--canna-hempx-products-featured-in-top-mixed-martial-arts-gym-in-las-vegas-215546.html 1933 Industries Inc (CSE:TGIF) (OTCWX:TGIFF) announced Thursday that its Canna HempX line of products have been introduced at Xtreme Couture MMA, a world-class mixed martial arts gym and pro shop in Las Vegas.

The company’s subsidiary Infused MFG which makes the Canna HempX line of products has set up a new action sports division and will be working with professional athletes to market Canna HempX, a cannabinoid sports recovery cream.

It's shaking things up by recruiting mixed martial arts fighter Sarah Moras to promote its new action sports division as well as its Canna HempX brand of sports recovery creams.

READ: 1933 Industries nears completion of its large new cannabis cultivation facility in Las Vegas

Moras who competes in the Bantamweight division has risen to prominence since making her professional debut in 2010.

"Xtreme Couture MMA was the obvious outlet for Canna HempX as it has become a favorite destination for people from all over the world who strive to achieve their fitness and sports goals,” said Moras. "Xtreme Couture MMA is one of the biggest MMA gyms attracting athletes from all levels under one roof in one of the biggest fight meccas in the world. I hope that other fighters try the product and see their own recovery results."

Moras, who is on a six-month contract, will play a key role in helping in the marketing efforts of Infused MFG.

With over 80 stock keeping units (SKUs) and new products introduced regularly, the Canna Hemp line of products includes Canna HempX, Canna Paws and Canna Fused.

Canna HempX is a CBD sports recovery cream for athletes that sooths pain, aids with muscle spasms and also helps with bruises, injuries and arthritis relief.

1933 is a cannabis company with operations in the US and Canada. The company owns 91% of both Alternative Medicine Association and Infused MFG and 100% of Spire Global Strategy.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Thu, 28 Feb 2019 10:05:00 -0500 https://www.proactiveinvestors.com/companies/news/215546/1933-industries--canna-hempx-products-featured-in-top-mixed-martial-arts-gym-in-las-vegas-215546.html
<![CDATA[News - 1933 Industries recruits mixed-martial arts fighter Sarah Moras to promote Canna HempX sports recovery cream ]]> https://www.proactiveinvestors.com/companies/news/215243/1933-industries-recruits-mixed-martial-arts-fighter-sarah-moras-to-promote-canna-hempx-sports-recovery-cream-215243.html 1933 Industries (CSE:TGIF) (OTCWX:TGIFF), is shaking things up by recruiting mixed martial arts fighter Sarah Moras to promote its new action sports division as well as its Canna HempX brand of sports recovery creams.

A mixed martial artist who competes in the Bantamweight division, Moras has risen to prominence since making her professional debut in 2010.

Moras, who is on a six-month contract, will play a key role in helping in the marketing efforts of Infused MFG, a subsidiary of 1933, and the manufacturer of the CannaHempX branded products.

READ: 1933 Industries to showcase its CBD products at Oscars festivities

This division of the cannabis company has set up a new action sports division and will be working with professional athletes to market Canna HempX, its cannabinoid sports recovery cream.

Its canna hemp cream is now being marketed to the mixed martial arts sports community after seeing a surge in interest from skateboarders.

 

“Training multiple times a day is exhausting and takes a toll on my body,” said Moras in a statement. “With Canna HempX CBD, I am able to push harder, recover quickly and stay focused longer.”

READ: 1933 Industries stokes Las Vegas capacity expansion in anticipation of medical and recreational cannabis product demand

Canna HempX is a CBD sports recovery cream for athletes that sooths pain, aids with muscle spasms and also helps with bruises, injuries and arthritis relief.

1933 is a cannabis company with operations in the US and Canada. The company owns 91% of both Alternative Medicine Association and Infused MFG and 100% of Spire Global Strategy.

1933 shares nudged up 1.8% to C$0.57 in morning trade on Monday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

PHOTO CREDIT: UFC.COM ]]>
Mon, 25 Feb 2019 09:41:00 -0500 https://www.proactiveinvestors.com/companies/news/215243/1933-industries-recruits-mixed-martial-arts-fighter-sarah-moras-to-promote-canna-hempx-sports-recovery-cream-215243.html
<![CDATA[News - 1933 Industries to showcase its CBD products at Oscars festivities ]]> https://www.proactiveinvestors.com/companies/news/215060/1933-industries-to-showcase-its-cbd-products-at-oscars-festivities-215060.html 1933 Industries (CSE:TGIF) (OTCQX:TGIFF) is having its day on the red carpet as it will be giving out some of its hemp-derived CBD products at an Oscars-related event on Friday at the W Hotel in Beverly Hills.

As part of the festivities, a team from 1933 Industries’ subsidiary Infused MFG will be giving out free CBD Relief Cream and other CBD elixirs at the WOW Creations Celebrity Gift lounge at the W.

READ: 1933 Industries stokes Las Vegas capacity expansion in anticipation of medical and recreational cannabis product demand

“We look forward to introducing our products to a celebrity audience during the week of the Academy Awards,” said Chris Rebentisch, USA chief operations officer.

Canna Hemp CBD relief cream takes aim at inflammation, arthritis joint pain, backaches, muscle spasms, bruises, cramps and headaches.

Operating via three subsidiaries, 1933 specializes in licensed medical and recreational cannabis cultivation and production as well as hemp-based and CBD-infused products and CBD extraction services.

The company owns 91% of both the Alternative Medicine Association and Infused MFG and 100% of Spire Global Strategy, a cannabis advisory firm.

1933 shares closed 3.6% higher to hit C$0.59 on Wednesday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Thu, 21 Feb 2019 08:55:00 -0500 https://www.proactiveinvestors.com/companies/news/215060/1933-industries-to-showcase-its-cbd-products-at-oscars-festivities-215060.html
<![CDATA[News - 1933 Industries taps CB1 Capital Advisors as consultant ]]> https://www.proactiveinvestors.com/companies/news/214892/1933-industries-taps-cb1-capital-advisors-as-consultant-214892.html 1933 Industries Inc (CSE:TGIF) (OTCQX:TGIFF), the Vancouver cannabis cultivation and production company, has hired CB1 Capital Advisors LLC, a New York advisory firm, to serve as a strategic business adviser for a year.

As an advisory firm focused on cannabinoid-based wellness strategies, CB1 Capital will provide business development advice to 1933 that includes analyzing investments and partnerships.

READ: 1933 Industries steps up its CBD consumer product distribution in the US

“We have accumulated an equity position in 1933 Industries and we look forward to working in an advisory capacity to assist the company in evaluating and pursuing business opportunities in the US,” said Todd Harrison, chief investment officer of CB1 Capital Management.

Operating via three subsidiaries, 1933 specializes in licensed medical and recreational cannabis cultivation and production as well as hemp-based and CBD-infused products and CBD extraction services.

The company owns 91% of both the Alternative Medicine Association and Infused MFG and 100% of Spire Global Strategy, a cannabis advisory firm.

READ: 1933 Industries stokes Las Vegas capacity expansion in anticipation of medical and recreational cannabis product demand

1933 shares added 10.2% to trade at $0.41 in New York in the morning trading session on Tuesday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Tue, 19 Feb 2019 09:14:00 -0500 https://www.proactiveinvestors.com/companies/news/214892/1933-industries-taps-cb1-capital-advisors-as-consultant-214892.html
<![CDATA[News - 1933 Industries steps up its CBD consumer product distribution in US ]]> https://www.proactiveinvestors.com/companies/news/214563/1933-industries-steps-up-its-cbd-consumer-product-distribution-in-us-214563.html 1933 Industries Inc (CSE:TGIF) (OTCQX:TGIFF) announced Wednesday that its subsidiary Infused MFG is continuing to expand by distributing its hemp-based CBD infused health and wellness products across 46 states.

The company which is based in Las Vegas, Nevada has established its own distribution to over 600 stores, the company said.

Infused MFG’s well-known brands like Canna Hemp, Canna Hemp X, and Canna Hemp Paws are now available in over 250 retail stores in California, Nevada, Arizona, Colorado, and other US states.

READ: 1933 Industries nears completion of its large new cannabis cultivation facility in Las Vegas

Infused has a strong e-commerce presence, sales agents, call center and a sales and marketing team which works directly with retailers, building relationships, providing customer service and education.

"Owning our distribution is key to our growth strategy and to our success, ensuring that our branding and messaging is properly delivered," said Infused MFG USA COO Chris Rebentisch. "Our operational expertise and excellence have set the benchmark for product manufacturing, distribution and compliance in Nevada."

Infused’s production is fully integrated in-house, with proprietary chemical-free formulas, containing non-GMO, organic ingredients and real cannabis-derived terpenes. The company’s CBD formulated products are tripled tested — internally, independently by a certified lab and then re-tested — to meet the company’s stringent quality standards.

With the new farm bill which legalizes the production of hemp, a form of cannabis with lower THC levels than marijuana, there’s renewed interest in the hemp-CBD industry which is forecast to grow to $22 billion by 2022, according to the Brightfield Group.

1933 Industries is a vertically integrated cannabis company with operations in the US and Canada. It operates through three subsidiaries which own licensed medical and adult-use cannabis cultivation and production assets, proprietary hemp-based, CBD infused products, CBD extraction services and a specialized cannabis advisory firm.

The company owns 91% of both Alternative Medicine Association and Infused MFG and 100% of Spire Global Strategy.

Shares added 6.6% in Toronto at $0.485. In New York, they gained 8.5% to US$0.37.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Wed, 13 Feb 2019 09:30:00 -0500 https://www.proactiveinvestors.com/companies/news/214563/1933-industries-steps-up-its-cbd-consumer-product-distribution-in-us-214563.html
<![CDATA[News - 1933 Industries nears completion of its large new cannabis cultivation facility in Las Vegas ]]> https://www.proactiveinvestors.com/companies/news/214097/1933-industries-nears-completion-of-its-large-new-cannabis-cultivation-facility-in-las-vegas-214097.html 1933 Industries Inc (CSE:TGIF) (OTCQX:TGIFF) said Wednesday that construction on its new cannabis cultivation facility in Las Vegas is “nearing completion” and waiting for electrical meter installation. 

Now that recreational adult use of cannabis is legal in 10 US states, the District of Columbia and Canada, expansion of capacity is a priority for 1933 Industries. As a result, the company is laser-focused on the timely construction of a 67,750-square-foot cannabis cultivation facility in Las Vegas. In addition, the company recently took possession of a 12,160-square-foot building to add to its hemp processing and cannabidiol extraction capabilities.

DEEP DIVE: 1933 Industries stokes Las Vegas capacity expansion in anticipation of medical and recreational cannabis product demand

The new Las Vegas facility will house the company's subsidiary, Alternative Medicine Association's indoor cannabis cultivation facility. 1933 Industries owns 91% of Alternative Medicine Association (AMA), a licensed medical and adult-use cannabis cultivation and production facility in Las Vegas that produces its own line of products and manufactures other company’s brands.

In 2013, AMA became the first licensed cultivator to sell cannabis in the Las Vegas area and is now one of Nevada's largest wholesalers of branded flower, distillate for vape products, and a broad range of concentrates.

"This is a very exciting time at AMA," said Tim Spencer, a master grower at Alternative Medicine Association. "We have made small adjustments to the design that should result in complete climate control and considerable efficiencies in production. This will keep us competitive while raising the standard for high end cannabis in Nevada."

Las Vegas is the North American mecca for gambling, and 1933 Industries is doubling down on the Entertainment Capital of the World as a place to expand the sale and cultivation of medical and recreational cannabis products.

The purpose-built 67,750-square-foot cannabis cultivation facility in Vegas has been developed as a two-story building on 1.39 acres. It includes a sophisticated, fully automated irrigation and fertigation system (delivering precise concentrations and ratios of nutrients to each plant), a system of small vegetation/cultivation rooms for better crop management, packaging areas, supporting offices, vault, climate-controlled rooms to cater to each phase of plant production, and other work areas.

The company said a “benching system will maximize growing space" and an advanced data tracking system will allow for 'steering' the crop scientifically, reducing crop time while increasing yield and quality. Once up and running, the newly constructed facility will deliver a ten-fold infrastructure expansion and significantly increase AMA's flower cultivation output.

The facility is waiting on the state's power provider for its meter installation, which may take up to several weeks, said the company. Once power is installed in the facility, state and city fire and health inspections will take place for the issuance of an occupancy permit. The occupancy permit is the final step in the process before allowing for cultivation in the new facility. 

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

 

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Wed, 06 Feb 2019 09:13:00 -0500 https://www.proactiveinvestors.com/companies/news/214097/1933-industries-nears-completion-of-its-large-new-cannabis-cultivation-facility-in-las-vegas-214097.html
<![CDATA[News - 1933 Industries hires master grower for Nevada cannabis business ]]> https://www.proactiveinvestors.com/companies/news/212067/1933-industries-hires-master-grower-for-nevada-cannabis-business-212067.html 1933 Industries Inc (CSE:TGIF) (OTCQX:TGIFF), the cannabis company, has tapped Tim Spencer as a master grower at its subsidiary Alternative Medicine Association (AMA).

Spencer will oversee AMA’s cannabis cultivation operations upon their relocation to a new, expanded facility near Las Vegas, Nevada, which is soon to be completed.

Spencer is a seasoned agriculture specialist with more than 20 years of experience.

READ: 1933 Industries ends 2018 on high note as revenue climbs

In his new job, Spencer will take responsibility for managing the gamut of AMA’s operations, from production planning to cultivation and harvesting.

“Tim has expertise at a scale rarely seen in the cannabis sector,” said Chris Rebentisch, 1933’s USA chief operations officer. “We are confident that Tim will be instrumental in the successful launch of our new operations in Las Vegas.”

READ: 1933 Industries sets sights on cannabidiol market after Trump signs US farm bill

Spencer, who began growing medical cannabis in California in 2008, went on to operate his own cannabis facility and later worked as a director of cultivation for The Green Solution, one of Colorado’s largest cannabis companies. In this role, Spencer oversaw 250,000 square feet of five-tier vertical indoor production with more than 45,000 plants and over 180 employees as well as one million square feet of outdoor and greenhouse production totaling four cultivation sites.

With operations in the US and Canada, 1933 owns licensed medical and adult-use cannabis cultivation and production assets via three subsidiary companies. The Vancouver-based company owns 91% of both Alternative Medicine Association and Infused MG and 100% of Spire Global Strategy.

1933 climbed 12.5% to hit C$0.405 on Friday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Mon, 07 Jan 2019 08:30:00 -0500 https://www.proactiveinvestors.com/companies/news/212067/1933-industries-hires-master-grower-for-nevada-cannabis-business-212067.html
<![CDATA[News - 1933 Industries ends 2018 on high note as revenue climbs ]]> https://www.proactiveinvestors.com/companies/news/211810/1933-industries-ends-2018-on-high-note-as-revenue-climbs-211810.html 1933 Industries Inc (CSE:TGIF) (OTCQX:TGIFF), a Canadian cannabis company with a presence in Nevada, said its first year of operations has seen “excellent progress.”

The company noted its consistent sales revenue growth, totaling C$4.6 million this October, compared with C$2.5 million in October 2017.

BIG PICTURE: 1933 Industries stokes Las Vegas capacity expansion in anticipation of medical and recreational cannabis product demand

“Our strong financial results of $12.6 million in sales revenue for our fiscal year 2018 are a testament of our sound operational management and diligent business practices as we continue to build a solid foundation for the future”, said CEO Brayden Sutton in the company’s press release.

The cannabis company highlighted its infrastructure progress and its expansion of its wholesale capacity.

1933 Industries’ 67,750-square-foot cannabis cultivation facility in Las Vegas is on track to be completed by February 2019.

The company has also acquired a 12,160-square-foot building to expand its hemp processing and cannabidiol extraction capabilities.

 

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Mon, 31 Dec 2018 09:16:00 -0500 https://www.proactiveinvestors.com/companies/news/211810/1933-industries-ends-2018-on-high-note-as-revenue-climbs-211810.html
<![CDATA[News - 1933 Industries sets sights on cannabidiol market after Trump signs US farm bill ]]> https://www.proactiveinvestors.com/companies/news/211671/1933-industries-sets-sights-on-cannabidiol-market-after-trump-signs-us-farm-bill-211671.html The management of 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) is bullish about the passage of the 2018 farm bill, which legalizes hemp in the US,  as the new law is set to boost the cannabis company’s plans to produce CBD extracts and will open new markets across the US.

In a victory for cannabis companies, President Donald Trump signed the farm bill earlier this month, which sanctions the production of hemp – a type of cannabis that doesn’t produce the psychoactive effects of marijuana. The move allows for the acceptance of industrial hemp as well as cannabidiol or CBD, a non-psychoactive compound that is making its way into drinks and foods.

The rise of hemp is a coup for cannabis companies as the domestic hemp market is set to grow to US$22 billion by 2020, according to statistics from the Brightfield Group.

READ: 1933 Industries stokes Las Vegas capacity expansion in anticipation of medical and recreational cannabis product demand

In response to the passage of the farm bill, Infused MFG, 1933’s manufacturer of hemp-based and CBD-infused products, has announced plans to begin processing hemp into CBD extracts for the production of an array of oils and other products. CBD production by Infused is now set to jump to 2,000 kgs per month, up from 200 kgs.

In a statement, Chris Rebentisch, Infused’s chief operations officer and founder, argued that producing isolated cannabidiol extract would produce the greatest return on investment over the next five years thanks to the new US law.

“The impact of the Farm Bill is significant to our business,” said Rebentisch. “Overall, we expect the CBD industry to break market expectations, become commoditized and follow strict regulations.”

READ: 1933 Industries sees fiscal 1Q revenue pop thanks to cannabis demand in Western US

1933’s management team also expects that the legalization of hemp in the US will entice more financial institutions and investors to back its business. It throws up the chance as well for 1933’s suite of branded hemp-derived products to be carried by big US retailers.

“The untapped versatility of CBD will become sought-after, as regular products begin to be infused with CBD and national retailers enter this sector,” concluded Brayden Sutton, 1933’s CEO in a statement.

1933 Industries Inc. is a cannabis company based in Chilliwack, Canada with operations in the US. Operating through three subsidiary companies, 1933 Industries owns licensed medical and recreational cannabis cultivation and production assets as well as CBD extraction services and a specialized cannabis advisory firm.

The company owns 91% of both Alternative Medicine Association and Infused MFG. and 100% of Spire Global Strategy.

1933 shares closed up 2.8% to hit C$0.37 on Thursday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Fri, 21 Dec 2018 09:02:00 -0500 https://www.proactiveinvestors.com/companies/news/211671/1933-industries-sets-sights-on-cannabidiol-market-after-trump-signs-us-farm-bill-211671.html
<![CDATA[News - 1933 Industries sees fiscal 1Q revenue pop thanks to cannabis demand in Western US ]]> https://www.proactiveinvestors.com/companies/news/211667/1933-industries-sees-fiscal-1q-revenue-pop-thanks-to-cannabis-demand-in-western-us-211667.html 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) saw its sales soar in its fiscal first quarter on the back of robust demand for cannabis products across Nevada, California and Colorado.

In the three months until the close of October, the cannabis company clocked in with revenue of C$4.62 million, up from C$2.46 million in the corresponding period a year ago.

Its gross profit also jumped over the same period to $1.93 million from $1.162 million. Its current assets climbed as well to $23.76 million from $13.4 million in the previous quarter

“We are pleased to report another strong quarter of steady growth from our subsidiary companies,” said CEO Brayden Sutton in a statement.

“Increased demand for our cannabis products in the states of Nevada, California, and Colorado are continuing to fuel this growth, while we focus on expanding wholesale capacity for our THC line of products and increasing sales of our CBD products across the US,” Sutton added.

READ: Cannabis company 1933 Industries uplists to the OTCQX in the US

1933, which operates in the US and Canada, owns licensed medical and recreational cannabis cultivation and production assets. It controls three subsidiaries, with 91% ownership of both Alternative Medicine Association and Infused MFG and all of Spire Global Strategy.

In the quarter, Alternative Medicine Association reported sales revenue of $2.26 million while Infused MFG posted sales of $2.278 million. Lastly, Spire Global Strategy posted consulting revenue of $81,905.

On 1933’s list of advances for its latest quarter was its launch of Canna Fused, a CBD/THC-infused product line making its debut in Denver in partnership with Denver Dab Company (DDC).

READ: 1933 Industries stokes Las Vegas capacity expansion in anticipation of medical and recreational cannabis product demand

The company also announced that its subsidiary Spire Global Strategy has been awarded a contract to develop a cannabis regulatory compliance course at Selkirk College, a post-secondary institution in British Columbia.

In another quarterly development, 1933 raised gross proceeds of $17.25 million after closing an offering of convertible debenture units.

1933’s net loss for the quarter came in at $3.04 million, or $0.01 per share, compared with a loss of $570,695, or $0.06 per share, in the year-ago period.

1933 shares finished up 2.8% to close at C$0.37 in Canadian trading on Thursday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Fri, 21 Dec 2018 08:06:00 -0500 https://www.proactiveinvestors.com/companies/news/211667/1933-industries-sees-fiscal-1q-revenue-pop-thanks-to-cannabis-demand-in-western-us-211667.html
<![CDATA[News - 1933 Industries moving to boost Las Vegas monthly cannabidiol production capacity to 2,000 kilograms ]]> https://www.proactiveinvestors.com/companies/news/211603/1933-industries-moving-to-boost-las-vegas-monthly-cannabidiol-production-capacity-to-2000-kilograms-211603.html Cannabis cultivator and producer 1933 Industries Inc (CSE:TGIF) (OTCQX:TGIFF) said Thursday that it is taking steps to increase its Las Vegas capacity to produce cannabidiol extracts from its initial monthly target of 200 kilograms to an estimated 2,000 kilograms.

The Vancouver-based company said in a release that it received local regulatory approval for new zoning and permitting for hazardous materials in Clark County, Nevada. The approval allows 1933 Industries to move ahead with plans to renovate a 12,160-square-foot building that will house a cannabis production facility as well as a cannabidiol lab.

READ: 1933 Industries stokes Las Vegas capacity expansion in anticipation of medical and recreational cannabis product demand

The company has already received an industrial hemp handler certificate from the Nevada Department of Agriculture.

Plans call for the lab to process wholesale hemp-derived cannabidiol extracts, used to produce oils, distillates and isolates. 

"As pioneers in the cannabis industry in Nevada, we have the vision, resources, know-how and in-house talent to ensure a successful venture into this emerging and exciting field," Chris Rebentisch, USA chief operations officer and founder of Infused MFG, a 1933 Industries subsidiary, said in a statement.   

Shares of 1933 Industries climbed C$0.02 to C$0.38 in Thursday’s Canadian trading. They slipped US$0.01 to US$0.27 on the OTC Markets.

Earlier this month, the company announced that it had been accepted for trading on the OTCQX, the top tier of the three marketplaces for over-the-counter stocks.

 

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Thu, 20 Dec 2018 10:41:00 -0500 https://www.proactiveinvestors.com/companies/news/211603/1933-industries-moving-to-boost-las-vegas-monthly-cannabidiol-production-capacity-to-2000-kilograms-211603.html
<![CDATA[News - 1933 Industries stokes Las Vegas capacity expansion in anticipation of medical and recreational cannabis product demand ]]> https://www.proactiveinvestors.com/companies/news/211179/1933-industries-stokes-las-vegas-capacity-expansion-in-anticipation-of-medical-and-recreational-cannabis-product-demand-211179.html Las Vegas is the North American mecca for gambling, and 1933 Industries Inc (CSE:TGIF) (OTCQX:TGIFF) is doubling down on the Entertainment Capital of the World as a place to expand the sale and cultivation of medical and recreational cannabis products.

The company is active as a fully integrated medical, adult-use licensee in Nevada, with exposure to Las Vegas’s emerging recreational-use cannabis market. With more than 42 million visitors each year, Las Vegas is poised to become one of the world’s largest adult-use cannabis markets, according to 1933 Industries’ website.

The executive team led by CEO Brayden Sutton changed the company’s name in September to 1933 Industries, from Friday Night Inc. The change was made to reflect a diversified business model as well as a strategy aiming for growth in the United States and Canada.

READ: Cannabis company 1933 Industries uplists to the OTCQX in the US

The “1933” in the name is a nod to the year when the prohibition of alcohol ended in the US. While “Friday Night” was jettisoned from the name, the company held on to its ticker, TGIF.

Chilliwack, British Columbia-based 1933 is a three-pronged conglomerate.

It owns 91% of Alternative Medicine Association LC, a licensed medical and adult-use cannabis cultivation and production facility in Las Vegas that produces its own line of products and manufactures other company’s brands. In 2013, AMA became the first licensed cultivator to sell cannabis in the Las Vegas area.

Concentrates and vape pen

AMA’s products include concentrates such as Cake Batter, Crumble and Sugar; a vape pen sold with distillate oil; and several flower strains. AMA also manufactures and sells products from companies that are not licensed in Nevada, including The Real Kurupt’s Moon Rocks.

The company holds a 91% stake in Infused MFG, a Las Vegas-based manufacturer of hemp- and cannabidiol-based medicinal and skin care products. Entering Colorado for the first time, Infused recently signed a one-year licensing agreement with Denver Dab Co, a producer of high-quality concentrates and pure cannabis oils for medical and recreational use.

In March, 1933 Industries acquired Spire Global Strategy, an advisory firm in Vancouver that helps client businesses stay secure, compliant and competitive. The company focuses on four areas of concern for cannabis companies: international production, sales and import-export licensing agreements; domestic licensing; public policy development; and design of large-scale hemp, cannabis and cannabidiol projects for clients.

Now that recreational adult use of cannabis is legal in 10 US states, the District of Columbia and Canada, expansion of capacity is a priority for 1933 Industries. 

Construction of a 67,750-square-foot cannabis cultivation facility in Las Vegas is on track for occupancy in February 2019. In addition, the company recently took possession of a 12,160-square-foot building to add to its hemp processing and cannabidiol extraction capabilities.

READ: 1933 Industries bolsters business development team

“1933 has invested significant capital in building out our new cultivation and production facilities in Las Vegas, which will be operational in the new year,” Sutton said in a statement. “The company is actively expanding its footprint in Nevada, California and Colorado.”

The company has logged significant growth. Total annual revenue for the year ended July 31 was 12 times higher compared with the prior year, rising to C$12.6 million.

The company is forgoing profit as it expands its Las Vegas capacity. For the prior fiscal year, the comprehensive loss was C$4.8 million, or C$0.02 per share, compared with C$3.8 million, or C$0.06 per share. Total cash slipped to C$9.6 million during the fourth quarter, from C$13 million in the third quarter. The company’s loss was primarily driven by investment in future growth initiatives, according to the company.

“We are very pleased with the results,” Sutton said.

A highlight for the company was the announcement in September of a convertible debenture offering that raised C$17.25 million. In early December, the company celebrated the promotion of its stock to OTCQX, the top tier of the US OTC Markets, from OTCQB.

Bullish prospects for cannabis industry

The cannabis company is bullish as more areas legalize recreational marijuana. The US cannabis industry is projected to exceed US$50 billion in revenue by 2026, according to 1933 Industries, citing figures from Cowen & Co. The marijuana business in Canada is seen reaching C$4.2 billion in 2019 and C$6.2 billion by 2024. The cannabinoid market is expected to grow to C$21 billion in 2020, according to Hemp Business Journal.

Sutton has been involved in the legal cannabis sector since 2012, having held executive positions at public and private companies. In December, the company named Ryan Maarschalk as chief financial officer, replacing Michael Hopkinson. Before going into finance, Maarschalk played tennis professionally and coached junior teams. Another recent arrival is Josh Taylor, a member of the business development division and a two-time High Times Cannabis Cut award winner for work with cannabis strains.

Back in May, the company entered a one-year licensing agreement with five-time World Series of Poker winner Scott Nguyen. The appointment seems appropriate for a company betting big on the cannabis industry from its hub in Las Vegas.


Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Thu, 13 Dec 2018 12:04:00 -0500 https://www.proactiveinvestors.com/companies/news/211179/1933-industries-stokes-las-vegas-capacity-expansion-in-anticipation-of-medical-and-recreational-cannabis-product-demand-211179.html
<![CDATA[News - Cannabis company 1933 Industries uplists to the OTCQX in the US ]]> https://www.proactiveinvestors.com/companies/news/210678/cannabis-company-1933-industries-uplists-to-the-otcqx-in-the-us-210678.html Cannabis company 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) announced Thursday that it has been accepted for trading on the OTCQX after meeting its eligibility requirements. 

The company’s shares will continue to trade under the symbol TGIFF. The uplisting reflects well on the Vancouver-based company as the OTCQX is the top tier of the three marketplaces for the over-the-counter trading of stocks. The top tier is for established, high-growth and investor-focused companies wishing to gain added exposure in the United States.

READ: 1933 Industries appoints Ryan Maarschalk as cannabis company’s chief financial officer​

"Meeting the OTCQX Best Market high financial and corporate governance standards was a significant milestone for the company during our first year of trading," said 1933 Industries CEO Brayden Sutton.

"As a US-focused issuer, we view graduating to the OTCQX Best Market as an important step in our Company's growth. Not only does it provide greater visibility and profile for our Company as we continue to penetrate legal markets in the US, but it allows us to connect with an expanded and diverse network of potential investors," he added.

The company, operating in the United States and Canada, owns licensed medical and adult-use cannabis cultivation and production assets. It controls three subsidiaries, with 91% ownership of both Alternative Medicine Association and Infused MFG and all of Spire Global Strategy.

"Graduating from the OTCQB to the OTCQX Best Market marks an important milestone for 1933 Industries," said Jason Paltrowitz, director of the OTC Markets Group International Ltd. "Trading on our premium OTCQX Market provides companies with increased visibility and more efficient trading for their global investors."

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

-- (Updates with comments ) --

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Thu, 06 Dec 2018 07:29:00 -0500 https://www.proactiveinvestors.com/companies/news/210678/cannabis-company-1933-industries-uplists-to-the-otcqx-in-the-us-210678.html
<![CDATA[News - 1933 Industries appoints Ryan Maarschalk as cannabis company’s chief financial officer ]]> https://www.proactiveinvestors.com/companies/news/210502/1933-industries-appoints-ryan-maarschalk-as-cannabis-companys-chief-financial-officer-210502.html Cannabis company 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) said Tuesday that Ryan Maarschalk has been appointed chief financial officer.

The Vancouver-based company said in a press release that he is replacing Michael Hopkinson. Maarschalk is a chartered professional accountant (CPA) and candidate for the chartered business valuation designation. Before going into finance, he played tennis professionally and coached junior teams.

READ: 1933 Industries bolsters business development team

Earlier this week, the company said it had appointed Josh Taylor, the co-founder of a cannabis start-up, to its business development division.

The company, operating in the United States and Canada, owns licensed medical and adult-use cannabis cultivation and production assets. It controls three subsidiaries, with 91% ownership of both Alternative Medicine Association and Infused MFG and all of Spire Global Strategy.

Shares of 1933 Industries slipped C$0.03 to C$0.38 in Tuesday’s Canadian trading. They were down US$0.05 to US$0.30 on the OTC Markets.


Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Tue, 04 Dec 2018 10:01:00 -0500 https://www.proactiveinvestors.com/companies/news/210502/1933-industries-appoints-ryan-maarschalk-as-cannabis-companys-chief-financial-officer-210502.html
<![CDATA[News - 1933 Industries bolsters business development team ]]> https://www.proactiveinvestors.com/companies/news/210419/1933-industries-bolsters-business-development-team-210419.html 1933 Industries Inc (OTCMKTS:TGIFF, CSE:TGIF) announced Monday it has appointed Josh Taylor to the company's business development division. 

Taylor will identify and evaluate licensing and acquisition opportunities, establish distribution networks for the company's branded suite of products, and open new markets for expansion in North America.

"We are building and strengthening our organization with seasoned talent to better position us for growth. Josh's addition to our business development division will be invaluable as we progress to the next stage of our development. We are delighted to welcome Josh to the team," said Brayden Sutton, president and chief executive officer of 1933 Industries.

READ: Friday Night’s focus on specific US cannabis markets reflects national, regional outlooks

Taylor's experience includes sales, marketing and business development roles. As the co-founder of a cannabis start-up, Taylor received two High Times Cannabis Cup awards and a Diamond Cup award for solvent-less concentrates.

Shares of 1933 Industries were at C$0.41 on Monday.

 

Contact Katie Lewis at katie@proactiveinvestors.com

Follow her on Twitter: @kelewis

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Mon, 03 Dec 2018 13:54:00 -0500 https://www.proactiveinvestors.com/companies/news/210419/1933-industries-bolsters-business-development-team-210419.html
<![CDATA[News - Friday Night shares up as subsidiary Spire to provide its expertise to Canadian provincial government ]]> https://www.proactiveinvestors.com/companies/news/194885/friday-night-shares-up-as-subsidiary-spire-to-provide-its-expertise-to-canadian-provincial-government-194885.html Cannabis- focused Friday Night Inc (CSE:TGIF, OTCQB:TGIFF) saw shares shoot up 11% Thursday on the back of an announcement about its new acquisition Spire Secure Logistics and Canada.

In late February, the group said it had acquired Spire, which specializes in security and has expertise in the cannabis industry. It closed the deal in March.

Spire is led by experts with international backgrounds in covert and undercover operations to infiltrate and disrupt organized crime, including cartels and other violent gangs.

The new subsidiary is to provide strategic advice and expertise to a Canadian provincial government on security programs and infrastructure for the legal distribution and sale of cannabis, Friday Night said.

"We are pleased to be developing secure and compliant strategies and programs as Canadian provinces and cities begin to implement legal cannabis distribution and sales," said Friday Night director and Spire CEO Andrew Richards.

Friday Night also announced today the appointment of  Kevin Mead as chief administration officer and director of International programs at Spire.

Mead is a 23-year career veteran of the Canadian Army and has served in numerous command, training and senior staff positions at tactical, operational and strategic levels.

Friday Night is a rapidly growing firm in the legal cannabis space.

It owns the first licensed cultivation facility in the Las Vegas area, Alternative Medicine Association (AMA), as well as the developer of hemp and cannabidiol (CBD) infused product maker called Infused Mfg.

Shares in Toronto added 11.34% to stand at C$0.54.

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Thu, 12 Apr 2018 11:52:00 -0400 https://www.proactiveinvestors.com/companies/news/194885/friday-night-shares-up-as-subsidiary-spire-to-provide-its-expertise-to-canadian-provincial-government-194885.html
<![CDATA[News - Friday Night, the Las Vegas cannabis group, on the way to profitability ]]> https://www.proactiveinvestors.com/companies/news/194276/friday-night-the-las-vegas-cannabis-group-on-the-way-to-profitability-194276.html Nevada-focused Friday Night Inc (CSE:TGIF, OTCQB:TGIFF) represents a 'compelling' investment opportunity in the legal cannabis space, according to an article on CFN Media.

"In addition to its existing revenue growth, the company’s Nevada facility is nearing final approval and could produce significant shareholder value over the coming years once complete," it says.

READ THE ARTICLE HERE..

Friday Night’s priority is building a new 67,000 sq ft building to boost production.

After acquiring the land and securing zoning approval, it is now awaiting final plan approval from the county.

Friday Night owns the first licensed cultivation facility in the Las Vegas area, Alternative Medicine Association (AMA), as well as the developer of hemp and cannabidiol (CBD) infused product maker called Infused Mfg.

Robust results..

Last week, the group reported a 20.2% increase in total sales in the second quarter against the first.

The figure was C$2.96mln compared to C$2.46mln in the first quarter and the increase was contributed to by both Las Vegas subsidiaries.

Alternative Medicine Association (AMA) has increased its focus on producing higher quality plants that command a higher price in the marketplace. Sales were up 11%.

Infused Mfg has increased its product offering, and both its top line sales and profits significantly contributed to the company's bottom line, it said. Sales added an impressive 45%.

"On the bottom line, gross profits reached $1,579,127, representing attractive gross margins of about 53.3 percent, while the company’s balance sheet remains robust with $15,753,139 in cash and cash equivalents," said CFN.

"These cash reserves provide ample buying power to complete future acquisitions and build out its new cultivation facility in Nevada, while strong profit margins pave the way towards profitability over the coming years."

Growing industry..

Notably, the pot industry is expected to surpass US$50bn by 2026, according to investment banker and advisor Cowen & Co, driven by the legalization of adult-use and medical cannabis in a growing number of states.

"In addition to California, Nevada has become one of the most promising states that has legalized adult-use cannabis given its enormous tourism industry. Investors looking for exposure to the market should look no further than Friday Night," says the article.

The company is also building new  revenue streams.

Last November, it reached an exclusive agreement with MariMed Advisors to produce THC products, including their “Melts” product line, a “Mints” line, “Kalm Corn” products, and the "Betty Eddies” and “Berry Bombs” line of products.

This year it also acquired Spire Secure Logistics, a private Canadian firm specializing in security, intelligence, with expertise in both the regulated cannabis industry and other sectors.

"Management also continues to look at various acquisition targets to augment its current operations, both within and outside of Nevada.

"It has entered into numerous LOIs that did not close as management determined these acquisitions either did not meet its stringent specifications or the asking price was not justifiable," said the article.

Friday Night shares are up 3.77% to C$0.55 in Toronto.

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Wed, 04 Apr 2018 14:46:00 -0400 https://www.proactiveinvestors.com/companies/news/194276/friday-night-the-las-vegas-cannabis-group-on-the-way-to-profitability-194276.html
<![CDATA[News - Friday Night to collaborate with skateboard legend on new CBD-infused recovery cream ]]> https://www.proactiveinvestors.com/companies/news/194170/friday-night-to-collaborate-with-skateboard-legend-on-new-cbd-infused-recovery-cream-194170.html Nevada-focused cannabis group Friday Night Inc. (CSE:TGIF, OTCQB:TGIFF) has skated into the action sports market with a new one-year licensing agreement.

Subsidiary Infused Mfg has struck the deal with skateboard firm Grizzly Griptape, founded by skateboard legend Torey Pudwill, for Infused's newest product -  'Canna Hemp X', which includes a CBD-infused recovery cream targeting the rapidly growing sports recovery market.

READ - Friday Night nudges higher as sales increase 20% in second quarter

"We are excited to launch our new action sports Recovery Cream in collaboration with Grizzly Griptape", Brayden Sutton, president and chief executive of Friday Night, told investors.

"Torey Pudwill is a legendary name in skateboarding and it has been a pleasure to work with him and the team at Grizzly.

"Our company continues to innovate and advance our hemp and CBD-infused product line and we will continue to seek opportunities to enter into new markets."

Friday Night said it was one of the first cannabis companies to partner with a major action sports company to launch a CBD recovery product.

It is also its first collaboration with a well-known professional athlete.

Pudwill is one of the world's top professional skateboarders and an industry entrepreneur.

READ - Friday Night's market cap growth places firm on CSE25 Index in Toronto

Pudwill earned a spot in many podiums in a variety of competitions including Street League Skateboarding and also represents well-known brands, including Red Bull, Diamond Supply and Footwear Co, Young Money, Plan-B Skateboards, Grizzly Grip.

The recovery cream will be available for pre-order on April 20 this year to coincide with industry celebrations and will be sold online and through retail outlets across the USA.

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Tue, 03 Apr 2018 10:31:00 -0400 https://www.proactiveinvestors.com/companies/news/194170/friday-night-to-collaborate-with-skateboard-legend-on-new-cbd-infused-recovery-cream-194170.html
<![CDATA[News - Friday Night nudges higher as sales increase 20% in second quarter ]]> https://www.proactiveinvestors.com/companies/news/194068/friday-night-nudges-higher-as-sales-increase-20-in-second-quarter-194068.html Shares in recreational cannabis  group Friday Night Inc. (CSE:TGIF, OTCQB:TGIFF) nudged higher as it reported a 20.2% increase in total sales in the second quarter against the first.

The figure for the latest quarter came in at over C$2.96mln compared to C$2.46mln in the first quarter.

The increase was contributed to by both subsidiaries in Las Vegas, Nevada, the firm said.

Alternative Medicine Association (AMA) has increased its focus on producing higher quality plants that command a higher price in the marketplace. Sales were up 11%.

Infused Mfg has increased its product offering, and both its top line sales and profits significantly contributed to the company's bottom line, it said. Sales added an impressive 45%.

Post period end, Friday Night acquiredSpire Secure Logistics Inc, a Canadian private company specializing in security, intelligence, with expertise in both the regulated cannabis industry and other sectors.

Friday Night had cash at end of the period of C$15.7mln.

Shares added 3.17% to C$0.65 each.

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Thu, 29 Mar 2018 16:28:00 -0400 https://www.proactiveinvestors.com/companies/news/194068/friday-night-nudges-higher-as-sales-increase-20-in-second-quarter-194068.html
<![CDATA[News - Friday Night in conversation with medics on medical pot ]]> https://www.proactiveinvestors.com/companies/news/193642/friday-night-in-conversation-with-medics-on-medical-pot-193642.html Nevada-focused cannabis group Friday Night Inc (CSE:TGIF, OTCQB:TGIFF) is talking to doctors about the use of medical pot.

The group's subsidiary Infused Mfg, which produces Canna Hemp products, has addressed a team of spine experts at the renown Cedars-Sinai Medical Centre.

Canna Hemp's director of operations Chris Rebentisch  addressed surgeons, neurosurgeons, anesthesiologists and radiologists during a course called 'The Science of Cannabis: Cannabis as Medicine'.

"This was an incredible opportunity for our company to join an important conversation with physicians," said Brayden Sutton, Friday Night's chief executive.

"We are seeing increasing interest from established health authorities as they begin to implement their own cannabis regimes.

"Having an open dialogue with physicians on medical cannabis is important as it may improve access for patients seeking alternative therapeutic options."

Rebentisch added: "This was an exciting opportunity to partner with academia and health care professionals to help bridge the gap between conventional and alternative medicines and to engage in an in-depth discussion about the viable applications of cannabis pharmacology as it applies to pain management and rehabilitation."

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Thu, 22 Mar 2018 10:17:00 -0400 https://www.proactiveinvestors.com/companies/news/193642/friday-night-in-conversation-with-medics-on-medical-pot-193642.html
<![CDATA[News - Friday Night's market cap growth places firm on CSE25 Index in Toronto ]]> https://www.proactiveinvestors.com/companies/news/193477/friday-night-s-market-cap-growth-places-firm-on-cse25-index-in-toronto-193477.html Recreational cannabis-focused group Friday Night Inc (CSE:TGIF, OTCQB:TGIFF) has reached another milestone.

On Tuesday, it told investors it was to be included in the CSE25 Index which consists of the 25 largest companies in the Canadian Securities Exchange (CSE) Composite Index by market cap.

"We are very proud to be recognized as one of the 25 largest companies on the CSE by market capitalization," said Brayden Sutton, the chief executive of TGIF.

The inclusion on the CSE25 Index not only distinguishes our company as a highly liquid issuer but gives validation to our business strategy and recognizes our impressive growth over the last 9 months of trading," said Brayden Sutton, the chief executive.

The CSE25 Index is a subset of the CSE composite index and contains over 52.75% of the total weight of the composite index.

Friday Night has a market cap of around C$147mln.

Richard Carleton, the chief executive of the CSE, added: "As the exchange has grown rapidly in terms of trading volumes and market capitalization it is appropriate that we give market participants a benchmark that monitors the performance of our largest and most liquid issues.

"As the 'exchange for entrepreneurs' we are proud of their success in the Canadian capital markets."

Earlier this month, the firm said it had appointed Andy Richards, the chief executive of Spire Secure Logistics, as director, after the group announced the acquisition of Spire the month before.

Spire specialises in security and has expertise in the cannabis industry.

It is led by experts with international backgrounds in covert and undercover operations to infiltrate and disrupt organised crime, including outlaw motorcycle gangs, cartels and other violent gangs.

Shares in Friday Night In Toronto added 1.45% to C$0.70 each.

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Tue, 20 Mar 2018 09:46:00 -0400 https://www.proactiveinvestors.com/companies/news/193477/friday-night-s-market-cap-growth-places-firm-on-cse25-index-in-toronto-193477.html
<![CDATA[News - Friday Night welcomes Spire Secure Logistics chief to board ]]> https://www.proactiveinvestors.com/companies/news/192875/friday-night-welcomes-spire-secure-logistics-chief-to-board-192875.html Recreational cannabis-focused group Friday Night Inc (CNSX:TGIF, OTC:TGIFF) has appointed Andy Richards, the chief executive of Spire Secure Logistics, as director.

In late February, the group said it had acquired Spire Secure Logistics Inc, which specialises in security and has expertise in the cannabis industry. It closed the deal this month.

READ: Friday Night diversifies portfolio as it acquires security firm

Spire is led by experts with international backgrounds in covert and undercover operations to infiltrate and disrupt organised crime, including outlaw motorcycle gangs, cartels and other violent gangs.

"The Spire team brings decades of experience in the trenches of law enforcement, security and high-stakes risk management," said Brayden Sutton, chief executive at Fright Night.

"Spire works with companies who want to make an honest dollar in a secure, compliant, law-abiding cannabis industry," Richards, a 34-year law enforcement veteran who has led numerous high-profile investigations of organised drug crime, had said.

READ: Friday Night poised for future expansion as it closes land purchase deal

For over half his career,  Richards specialised in complex organised crime investigations and led many successful major projects, most with an international component.

Friday Night shares  zipped up 5.63% to C$0.75 in Toronto.

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Thu, 08 Mar 2018 12:00:00 -0500 https://www.proactiveinvestors.com/companies/news/192875/friday-night-welcomes-spire-secure-logistics-chief-to-board-192875.html
<![CDATA[News - Friday Night poised for future expansion as it closes land purchase deal ]]> https://www.proactiveinvestors.com/companies/news/192690/friday-night-poised-for-future-expansion-as-it-closes-land-purchase-deal-192690.html Recreational cannabis-focused group Friday Night Inc (CNSX:TGIF, OTC:TGIFF) continues to make progress with long term plans - as it closed on a previously announced land purchase agreement in Nevada.

The purchase is of a further 2.78 acres of land which is contiguous to the current location that will host subsidiary Alternative Medicine Association's (AMA's) new cultivation facility.

READ: Friday Night completes acquisition of Spire Secure Logistics

AMA now owns 4.17 acres of land on a major thoroughfare in the city of Las Vegas, which includes the original plot of 1.39 acres that has already received a special use permit for cannabis cultivation and a building permit for its future 67,000 sq ft cultivation facility, the firm said.

Mark Zobrist, the managing partner of Alternative Medicine Association, said: "The additional land will allow for future expansion of the cultivation facility as well as a new production facility when needed. 

"It could also be used as the location for a retail dispensary license application if the company decides to apply when that window opens again.

"This acquisition gives us a strategic advantage and flexibility for our long-term plans to meet the market demand as it grows."

Friday Night owns 91% of AMA, which is a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of cannabis-based products and manufactures other third-party brands.

Earlier this month, the firm closed its previously announced acquisition of Spire Secure Logistics - a group, which specialises in security is an expert in the cannabis industry.

READ: Friday Night shares advance as it pulls Infused MFG business spin-out

Friday Night issued 7.69mln common shares to the shareholders of Spire at a deemed price of 65 cents a share. 

Spire has strengthened its team with the appointment of Tim Humberstone, a former law enforcement leader and someone who is regarded as an expert in Canada's regulated cannabis sector.

Humberstone will be Spire's chief strategy officer, charged with leading Spire's growth in Ontario.

Shares added nearly 10%% to C$0.78 in Toronto.

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Tue, 06 Mar 2018 09:07:00 -0500 https://www.proactiveinvestors.com/companies/news/192690/friday-night-poised-for-future-expansion-as-it-closes-land-purchase-deal-192690.html
<![CDATA[News - Friday Night completes acquisition of Spire Secure Logistics ]]> https://www.proactiveinvestors.com/companies/news/192547/friday-night-completes-acquisition-of-spire-secure-logistics-192547.html Friday Night Inc (CNSX:TGIF) has closed its previously announced acquisition of Spire Secure Logistics.

READ Friday Night diversifies portfolio as it acquires security firm

Friday Night issued 7.69mln common shares to the shareholders of Spire at a deemed price of 65 cents a share.  

Spire has strengthened its team with the appointment of Tim Humberstone, a former law enforcement leader and someone who is regarded as an expert in Canada's regulated cannabis sector.

Humberstone will be Spire's chief strategy officer, charged with leading Spire's growth in Ontario.

“I’ve been courted by a lot of companies in the cannabis sector,” said Humberstone.

“It’s no accident I chose to join the team at Spire Secure Logistics.  Spire has been quietly establishing a presence across Canada, and I’m excited to take the lead in Ontario,” he added.

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Fri, 02 Mar 2018 12:00:00 -0500 https://www.proactiveinvestors.com/companies/news/192547/friday-night-completes-acquisition-of-spire-secure-logistics-192547.html
<![CDATA[News - Friday Night shares advance as it pulls Infused MFG business spin-out ]]> https://www.proactiveinvestors.com/companies/news/192299/friday-night-shares-advance-as-it-pulls-infused-mfg-business-spin-out-192299.html Recreational cannabis focused group Friday Night Inc. (CNSX:TGIF) saw its shares advance over 7% on Tuesday as it said it had decided to indefinitely postpone the spin out of its Infused MFG business.

Infused is a Nevada-based firm that provides legal hemp-derived and cannabidiol (or CBD) products, and Friday Night bought a 91% stake last year.

Friday Night unveiled the spin-out plan last month.

"Infused's Canna Hemp brand has seen strong demand in the California market since the state-level legalisation on January 1, 2018," said Friday Night.

The California cannabis market is currently estimated to be worth US$8.5bn, it added.

Canna Hemp products are now selling in 15 retail locations in California and Infused has recently hired two additional sales representatives to expand on its distribution network.

In today's statement, TGIF said: "After careful review of the evolving Las Vegas market and the success in the California market, the company has decided to indefinitely postpone the spin out of Infused MFG.

"Management believes Infused and the Canna Hemp brand will continue to show strong growth and success in new markets and will provide value to the shareholders of Friday Night."

TGIF shares in Toronto added 7.69% to C$0.56.

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Tue, 27 Feb 2018 13:15:00 -0500 https://www.proactiveinvestors.com/companies/news/192299/friday-night-shares-advance-as-it-pulls-infused-mfg-business-spin-out-192299.html
<![CDATA[News - Friday Night diversifies portfolio as it acquires security firm ]]> https://www.proactiveinvestors.com/companies/news/192208/friday-night-diversifies-portfolio-as-it-acquires-security-firm-192208.html Friday Night Inc (CNSX:TGIF) has acquired Spire Secure Logistics Inc, which specialises in security and has expertise in the cannabis industry.

By adding this business to its portfolio, Friday Night says it is diversifying its income stream and achieving exposure to international markets.

Friday Night will issue 7.14mln shares at a deemed price of 70 cents per share and closing of the deal is expected on March 1 this year.

Friday Night will allocate working capital of C$1mln to expand Spire's client base in Canada and globally.

Shares issued will be subject to an escrow arrangement that will see 12.5% released from escrow on closing and the remaining 87.5% being released to the vendors in seven equal tranches of 12.5% beginning on May 1 this year.

Spire is led by experts with international backgrounds in covert and undercover operations to infiltrate and disrupt organised crime, including outlaw motorcycle gangs, cartels and other violent gangs.

"The Spire team brings decades of experience in the trenches of law enforcement, security and high-stakes risk management," said Brayden Sutton, chief executive at Fright Night.

"Spire works with companies who want to make an honest dollar in a secure, compliant, law-abiding cannabis industry," added Spire chief executive Andy Richards, a 34-year law enforcement veteran who has led numerous high-profile investigations of organised drug crime.

"Whether it's regulatory applications, security procedures, or working hand-in-hand with government and law enforcement, our team has the right skills, connections and experience to deliver."

When the deal closes, Richards will also join the Friday Night board of directors, the firm added.

Friday Night Inc shares shed 8.47% in Toronto to stand at C$0.54.

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Mon, 26 Feb 2018 13:57:00 -0500 https://www.proactiveinvestors.com/companies/news/192208/friday-night-diversifies-portfolio-as-it-acquires-security-firm-192208.html
<![CDATA[News - Friday Night and Body and Mind agree to terminate letter of intent ]]> https://www.proactiveinvestors.com/companies/news/192012/friday-night-and-body-and-mind-agree-to-terminate-letter-of-intent-192012.html Friday Night Inc (CNSX:TGIF) said its letter of intent to buy cannabis grower Body & Mind Inc (BAM) in an all-share deal, which was announced in December, had been terminated.

"After careful review of the Body and Mind transaction and current market conditions, Friday Night and Body and Mind have mutually determined the acquisition of Body and Mind under the terms of the LOI would not be in the best interests of shareholders, and as a result, the LOI has been terminated by both parties," Friday Night said in a statement.

"Market conditions and the revised consideration proposal to our shareholders played a role in the decision to mutually terminate the proposed amalgamation plan," added Body and Mind chief executive Leonard Clough.

Friday Night shares eased 1.47% in Toronto to C$0.67.

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Wed, 21 Feb 2018 15:02:00 -0500 https://www.proactiveinvestors.com/companies/news/192012/friday-night-and-body-and-mind-agree-to-terminate-letter-of-intent-192012.html
<![CDATA[News - Friday Night welcomes clarification on disclosure requirements from CSA ]]> https://www.proactiveinvestors.com/companies/news/191467/friday-night-welcomes-clarification-on-disclosure-requirements-from-csa-191467.html Recreational cannabis firm Friday Night Inc (CNSX:TGIF) has welcomed the clarification from the Canadian Securities Administrators on disclosure requirements for Canadian companies with US marijuana assets.

The Canadian Securities Administrators (CSA) issued a clarification document in which it acknowledged that the political and regulatory circumstances surrounding the treatment of US marijuana-related activities are uncertain.

“In the event that US federal law against marijuana is enforced, there could be material consequences for any issuer with US marijuana-related activities, including prosecution and asset seizure,” the CSA said.

The CSA said it expects issuers operating in the marijuana industry to carefully consider any legal or regulatory actions or changes in order to determine whether they would result in material changes that trigger timely disclosure obligations.

The CSA gave some specific disclosure requirements in its reference document, including the need to describe the nature of the issuer's involvement in the US marijuana industry and to prominently state that marijuana is illegal under US federal law, and thus there is an element of risk should the law be enforced.

"We commend the CSA for providing clarification on disclosure requirements for Canadian companies with US cannabis assets, and we are committed to maintaining transparent disclosure documents to all our investors" said Brayden Sutton, the chief executive officer of Friday Night.

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Fri, 09 Feb 2018 16:59:00 -0500 https://www.proactiveinvestors.com/companies/news/191467/friday-night-welcomes-clarification-on-disclosure-requirements-from-csa-191467.html
<![CDATA[News - Friday Night Inc now DTC eligible ]]> https://www.proactiveinvestors.com/companies/news/191394/friday-night-inc-now-dtc-eligible-191394.html Recreational cannabis firm Friday Night Inc (CNSX:TGIF) says its shares are now DTC (Depository Trust Company) eligible after it received approval.

DTC provides depository and book entry services for eligible stocks, as well as a settlement system and means the stock can now trade electronically, the firm said.

"Electronic clearing speeds up the delivery of stock and cash settlements, thereby accelerating trading for investors.

"DTC is the world's settlement organization for equities across the United States and in 131 other countries."

Friday Night shares closed yesterday at C$0.71.

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Thu, 08 Feb 2018 08:36:00 -0500 https://www.proactiveinvestors.com/companies/news/191394/friday-night-inc-now-dtc-eligible-191394.html
<![CDATA[News - Friday Night adds Cameron Watt to board ]]> https://www.proactiveinvestors.com/companies/news/191163/friday-night-adds-cameron-watt-to-board-191163.html Nevada-focused cannabis group Friday Night Inc (CNSX:TGIF) has hired experienced executive Cameron Watt as a director.

A business graduate of the British Columbia Institute of Technology, Watt has already played a significant role in the success and growth of the company during his time as executive vice-president, the firm noted.

In the same statement, Friday Night thanked director Brian Keane for his contributions over the past year and wished him well in his future endeavours.

CFN Media Group is upbeat on Friday Night Inc (CNSX:TGIF), which has moved to double its existing cannabis production capacity, and represents a unique opportunity within the burgeoning industry.

Acquisitions

Last week, Friday Night was the subject of a bullish article from CFN Media, a creative agency dedicated to legal cannabis.

It noted the firm's move to double its cultivation footprint in Nevada through two possible acquisitions, while divesting its CBD (cannabidiol) assets.

It says that Friday Night last month, announced that it  would buy Body & Mind Inc in an all share deal.

"With approximately 130,000 sq ft of facility projects under development, the acquisition will make the combined company one of the largest cultivation and production companies in Nevada."

Friday Night has also announced a letter of intent to acquire Harvest Foundation LLC, a 10,000sq ft cannabis cultivation facility adjacent to its Alternative Medicine Association (AMA) property, for US$1mln in cash, 10mln shares and warrants.

"AMA was the very first cannabis cultivator licensed in Las Vegas and has developed a leading brand in the city and throughout Nevada," highlighted CFN.

 

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Mon, 05 Feb 2018 10:14:00 -0500 https://www.proactiveinvestors.com/companies/news/191163/friday-night-adds-cameron-watt-to-board-191163.html