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1933 Industries Inc C.TGIF

Alternate Symbol(s):  TGIFF

1933 Industries Inc. is a Canada-based cannabis cultivator and producer. The Company is focused on the cultivation and manufacturing of a portfolio of cannabis consumer-packaged goods in a variety of formats for both the wholesale and retail markets. The Company operates through three segments: Alternative Medicine Association LLC (AMA), Infused Mfg LLC (Infused MFG), and Corporate. Its AMA segment is focused on the cultivation and sale of medical and adult use cannabis products. Its Infused MFG segment is focused on the manufacturing of Hemp derived cannabidiol (CBD) products. Its product offerings through its in-house brands, including wholesale flower, pre-rolls, and extracted products under the AMA and Level X brands for the Nevada market; and Canna Hemp, a national CBD brand of wellness products, which include tinctures, gummies, topicals and sports recovery products. The Company owns 91% of AMA, and 100% of Infused MFG LLC Infused.


CSE:TGIF - Post by User

Bullboard Posts
Post by jfogarty12on Nov 05, 2020 8:18am
198 Views
Post# 31840870

NR

NR1933 Industries Signs Definitive Agreement to Purchase Remaining 9% of Subsidiary AMA Production LLC

VANCOUVER, B.C., CANADA (November 5, 2020) – 1933 Industries Inc. (the “Company” or “1933 Industries”) (CSE: TGIF) (OTCQX: TGIFF), a vertically-integrated cannabis consumer packaged goods company with a diverse portfolio of consumer-driven brands, is pleased to announce that it has signed a Membership Interest Purchase Definitive Agreement (the “Agreement”) among the Company, its subsidiary FN Pharmaceuticals, E. Mark Zobrist and Linmark Enterprises Corp., to purchase the remaining 9% interest in AMA Production LLC thereby resulting in the Company’s 100% ownership of the subsidiary which contains the property located at 5035 Geist Ave., Las Vegas, Nevada.

Subject to the terms of the Agreement, in consideration of the acquisition of the remaining 9%, the Company will issue, in the aggregate, 3,700,000 non-transferable share purchase warrants, exercisable at a price of $0.075 per share expiring on June 13, 2024. The warrants, and any shares exercised pursuant to the warrants, will be subject to a four month and one day hold period as required by applicable securities laws in Canada and such additional restrictions as may be applicable pursuant to U.S. securities laws.

As part of the transaction, a total of 1,650,000 outstanding warrants and 2,050,000 options will be cancelled, and the operating agreement for Alternative Medicine Association LC (“AMA”) will be amended to concede complete managerial control of AMA to the Company.

Mr. Paul Rosen, CEO of 1933 Industries, stated, “This is another step towards putting 1933 Industries on solid footing as it continues to progress on its key initiatives. The Agreement provides the Company with additional operating flexibility, which, alongside the most recent capital raises, the successful amendments to the Company’s convertible debentures and the continuing increases to our cultivation capacity, moves us forward towards our goal of achieving profitability.”

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