TGIF IS THE FUTURE LEADER - NEWS OUT. The facility will position the Company as a market leader in one of the fastest growing segments in the cannabis industry
VANCOUVER, Jan. 22, 2020 /PRNewswire/ - 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE: TGIF) (OTCQX: TGIFF), a vertically-integrated and growth-orientated cannabis consumer packaged goods company, is pleased to provide a progress update regarding its hemp processing facility ("Lab").
Phase 1
The Company has been diligently working with a team of engineers and chemists to develop a customized hemp extraction facility capable of producing isolated cannabinoids such as CBD, CBG, CBC and CBN, as well as full spectrum and broad spectrum oils without THC, at full scale while maintaining a significantly lower cost structure than other comparable hemp extraction facilities. The Lab is being designed to comply with existing and anticipated state and federal hemp manufacturing rules and GMP guidelines. The Company is taking necessary steps to ensure the long-term viability of the Lab and has undertaken a mandatory peer review of the proposed equipment as required by Clark County.
Project Scope and Expected Output
The Lab will be located adjacent to the Company's current cultivation facility in Las Vegas. The 12,160 sq. ft. existing building has received the necessary approvals for new zoning and permitting for hazardous materials from County authorities and has secured an Industrial Hemp Handler Certificate from the Nevada Department of Agriculture (NDA) Industrial Hemp program. Permitting has been completed for fire and city inspections as well as H-3 hazard zoning.
The facility's monthly processing capacity is estimated at approximately 68,000 kg. (150,000 lbs.) of hemp biomass to produce 5,000 kg of full spectrum oils or 4,500 kg of CBD isolate.