Proactive Investors - Run By Investors For Investors

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

The C$4.5m offering was exclusively taken up by Rosen, the co-founder and former CEO of PharmaCan Capital Corp, which became Cronos Group
cannabis greenhouse
Headquartered in Vancouver, 1933 Industries is a cannabis company with operations in the US and Canada

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 [email protected] 

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full TGIF profile View Profile

1933 Industries Timeline

Related Articles

May 07 2019
TGOD has been busy building out its facilities in Ontario, Quebec, and Jamaica and expects to reach combined production of 219,000 kilograms of cannabis around 2021
cannabis plan in sun
February 21 2019
The cannabis company will manufacture, infuse and package branded recreational and wellness products
RYAH is the first cannabis vaporizer that lets users precisely regulate dose and temperature
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use