1933 Industries Harvested First Commercial Cannabis Crop in California, Expanded Canna Hemp™ Distribution and Provided Market Update
1933 Industries Inc. (CSE: TGIF) (OTCQX: TGIFF), is a vertically-integrated and growth-orientated cannabis consumer packaged goods company. The company announced that, the first harvest of cannabis plants from its California operation is currently under way and reports that it has commenced distribution of California-compliant full spectrum Canna Hemp™ products to dispensaries in the state.
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.
Companies award-winning proprietary portfolio of brands include: AMA flower and AMA concentrates as well as CBD-infused Canna Hemp™, Canna Hemp X™, and Canna Fused™ products. Partners under licensing agreements include: Birdhouse Skateboards™, Blonde™ Cannabis, Bloom™, Denver Dab Co., Grizzly Griptape, OG DNA Genetics, The Pantry Company, PLUGplay, and The Original Jack Herer®.
The Company owns 91% of Alternative Medicine Association, LC (AMA), and 100% of Infused MFG LLC. 1933 Industries continues to focus its operations in the licensed US cannabis industry as a multi-state operator in Nevada, Colorado and California. The Company operates in California via a management services agreement with Green Spectrum Trading Inc., a medicinal and recreational cannabis business licensee in the state.
First commercial harvest marks the California debut of AMA and Blonde™ Cannabis products. Following the completion of a combined 20,000 sq. ft. expanded cultivation, extraction, manufacturing and distribution facility in the Los Angeles area, the Company began harvesting its first cannabis crop this week to be utilized for both its proprietary brand, Alternative Medicine Association (AMA) as well as for its licensing partner, luxury brand Blonde™ Cannabis, with products earmarked for dispensaries for the first time outside of Nevada. With crops of Mimosa and SFV OG, the harvest will be utilized for AMA premium packaged flower, pre-rolls and Blonde™ products. Over a period of approximately three weeks, harvested plants will enter a drying and curing process and laboratory testing with product expected to be available in early March.
The Company established local manufacturing for its proprietary cannabidiol (CBD) wellness line containing California-compliant full spectrum CBD for direct distribution to local dispensaries. The Company reported that the initial run of 30,000 units of full spectrum CBD Canna Hemp™ products passed required state compliance testing and will be delivered to dispensaries this week. Initial products available include, Canna Hemp™ elixirs, vape pens and cartridges, and Canna Hemp X™ elixirs, with Canna Hemp™ Relief creams available later in February.
The company is on schedule to harvest commercial crops every 14-18 days from the Las Vegas cultivation facility starting in March. They have 5 harvest zones with plants growing in various stages for 4 of the 5 zones. Company reported that the biomass from the first harvest from this facility has been utilized to produce a line of high value concentrates for the Nevada market and leverage one of most exciting verticals within the cannabis industry.
On January 27th, company submitted a third round of comments to the Clark County Building Department (CCBD) for the expansion of our THC extraction facility.
Although the peer review of the customized extraction equipment for the GMP hemp extraction lab has not been completed to date, the company is still on track to deliver this project mid-year. Company continue to make progress in building design and equipment engineering. They reported that the distillation system has been delivered to the facility in Las Vegas.
Canna Hemp™ CBD Relief Cream was named “Best Topical” by Leafy’s Best in State: The Top State Specific Products and Experiences of 2018.
Canna Hemp X™ was named “Best Topicals for Pain” by Herb’s Guide to the Best Cannabis Products on the Planet. Canna Hemp X™ is a CBD sports recovery cream for athletes, bridging the gap between recovery and top performance.