VANCOUVER, B.C., CANADA (April 10, 2019) – 1933 Industries Inc. (the “Company” or “1933 Industries”) (CSE: TGIF) (OTCQX: TGIFF), a licensed cultivator and producer of cannabis flower and concentrates and manufacturer of hemp-derived CBD wellness products, is pleased to announce that its subsidiary, Alternative Medicine Association (“AMA”) is making preparations to move into its new advanced cannabis cultivation facility as the construction phase comes to an end.
Temporary Certificate of Occupancy and Business License
The Company is pleased to report that permanent power was recently established by Nevada Energy to the facility and that it anticipates receiving a Temporary Certificate of Occupancy (“TCO”) by the end of April. Grow equipment will be fully installed 3-4 weeks after the TCO has been received.
Following TCO receipt, the Company will work with the various local and state departments including, Health & Safety, Air Quality, Business License, Fire Prevention, etc., to receive final inspection approvals, which will trigger a Certificate of Occupancy (“CO”). This process is estimated to take 3 weeks to obtain. The Company has also submitted requests to the County and the State to approve the change of location of the Company’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 CO.
Operational Phase
After the CO and change of location have been obtained, operations will begin, and AMA will focus on ramping up cultivation to achieve full production capacity. The facility is segregated into 5 different zones with a total of 15 bloom rooms and 4 veg rooms. 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.
The new cultivation facility will employ an estimated 50 people and arrangements have already been put in place to gradually increase staffing during the ramp up phase. The Company anticipates cultivating approximately 700-800 lbs. of flower per month once at full capacity.
Mr. Chris Rebentisch, USA COO and Founder of Infused commented, “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. The increased capacity, coupled with efficiencies in production and economies of scale will undoubtedly improve yields and provide higher margins.”
About 1933 Industries Inc.
1933 Industries Inc. is a vertically integrated cannabis company with operations in the United States and Canada. Operating through three subsidiary companies, 1933 Industries owns 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 supporting clients in security, intelligence and due diligence. The Company owns 91% of Alternative Medicine Association and 100% of both Infused MFG. and Spire Global Strategy.
Please visit our website at http://www.1933industries.com
For further information please contact:
Alexia Helgason, Corporate Communications Director
604-674-4756 (ext. 1)
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Brayden Sutton, Director/President & CEO
604-674-4756 (ext. 1)
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. 1933 Industries undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
