VANCOUVER, BC / ACCESSWIRE / February 3, 2021 / 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE:TGIF) (OTCQB:TGIFF), a vertically integrated cannabis consumer packaged goods company, is pleased to announce that Company-wide total sales and open orders reached CAD$1.4 million in January 2021. The Company reports that its cultivation subsidiary, Alternative Medicine Association (AMA), recorded its strongest monthly sales to date since launching its AMA branded cannabis flower and pre-rolls in late August 2020, representing a 113% increase year over year.
The latest sales figure is a significant milestone for the Company as it continues to scale up production from its state-of-the-art Las Vegas cultivation facility. The Company expects to generate increased revenues and improved margins with higher volume, quality and consistency of saleable flower and biomass produced. AMA now boasts a robust genetic bank of 37 in-demand, premium craft flower strains, a best in class, scalable cultivation facility with no new capital deployment and improved overall output. In addition, AMA will be launching 3 new pre-roll multipacks and one gram flower jars to its current portfolio of 161 AMA branded SKUs, as well as certain strains that have tested high for the cannabinoid CBGa, currently being studied for multiple medical applications.
"At AMA, excellence in cultivation, production, quality and safety are at the core of what we do. Our seed to sale craft-style grow permeates the entire operation, from cultivation and harvest to hand trimming and input material for our high-purity, ultra-refined concentrates," said Mr. Ryan George, Director of Cultivation. "We are pleased that our premium flower is being well accepted in the market and that our cultivation and processing facilities serve as key differentiators for our extensive product line which is sold to licensed medical and adult use dispensaries in Nevada."
Mr. Paul Rosen, CEO of 1933 Industries said, "As seasoned operators, we are pleased with the progress to date and we believe that the Company has never been in a better position to achieve sustainable and profitable top line revenue growth going forward. Our execution strategy is completely aligned with our shareholders as we continue to build the business, utilizing our competitive advantages in operating large-scale cultivation to solidify a dominant position within our core market. We continue to believe that saleable flower will remain the largest cannabis category, hence our commitment to enhanced cultivation and branding."
The Company also announces that Mr. Eugene Ruiz is no longer President of 1933 Industries.
About 1933 Industries Inc.
1933 Industries is a vertically-integrated, growth-orientated company, focusing on the cultivation and manufacturing of cannabis consumer branded goods in a wide range of product formats. Operating through two subsidiaries, the Company controls all aspects of the value chain with cultivation, extraction, processing, and manufacturing assets supporting its diversified portfolio of cannabis brands and licensing partners. The Company owns 91% of Alternative Medicine Association, LC (AMA), and 100% of Infused MFG LLC. www.1933industries.com
About Alternative Medicine Association
AMA is a licensed medical and adult-use cannabis cultivation and extraction subsidiary that produces its own branded line of unique cannabis products and manufactures third-party brands. AMA's extensive menu of cannabis products include: craft cannabis flower, pre-rolls, full spectrum oils, high quality distillates, proprietary blends of terpenes, vaporizer products and boutique concentrates such as shatter, crumble, batter, sugar wax, diamonds, and live resin. With state-of-the-art cultivation and extraction facilities based in Las Vegas, Nevada, AMA seeks to offer medical patients and recreational users alike a cannabis experience that's exceptional, potent, and consistent in quality. www.amanev.com
About Canna Hemp™
With an extensive product line that includes topicals, creams, vapes, elixirs, capsules, dabs, lip balms and pre and post workout recovery sports products, 1933 Industries' proprietary Canna Hemp™ brand utilizes the power of hemp and CBD to bring natural wellness. The Company's flagship products, the Canna Hemp™ Relief Cream and Canna Hemp X™ Recovery Cream are recognized as best topicals in the market. Canna Hemp X™ is a CBD sports recovery cream for athletes, bridging the gap between recovery and top performance. All products are triple and third-party tested for safety with test results embedded via QR codes for traceability. www.cannahemp.com
For further information please contact:
Alexia Helgason, VP, IR and Corporate Communications
604-674-4756 (ext. 1)
This email address is being protected from spambots. You need JavaScript enabled to view it.
Paul Rosen, 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.
SOURCE: 1933 Industries Inc.
