1933 Industries Inc. (CSE:TGIF,OTCQX:TGIFF,FWB:IQF) CEO Chris Rebentisch recently joined the Stock Day podcast to discuss the company’s expansion plans, including a new 67,000-square-foot cannabis cultivation facility. Rebentisch also provided an overview of the company’s recent progress, including a partnership with skateboarding legend Tony Hawk.
The company’s 67,000-square-foot, state-of-the-art indoor cultivation facility in Nevada is expected to increase 1933 Industries’ cultivation capacity by 500 percent. Rebentisch expects the first harvest from the facility to begin in December. As for the old facility, 1933 Industries intends to retrofit it to a 10,000-square-foot extraction facility, to ensure that the company can meet its current product quotas. According to Rebentisch, the company’s existing extraction facility is running for 16 hours per day to keep up with the current demand.
Despite the size advantages that the California market presents, Rebentisch believes that Arizona will be the next big market within the US. The population in Arizona alone is greater than the entire state of Nevada and the state “has already made US$750 million a year in medical cannabis sales, which is expected to triple when rec is green-lighted.” 1933 Industries is already servicing approximately half of the dispensaries in the state.
Rebentisch also addressed the direct-to-consumer trend that the industry has been seeing. He believes that the brands are what’s going to survive in the industry because people are going to buy that brand no matter where it is located. Brand consistency and quality are what is going to make consumers purchase and use the products. Rebentisch does believe that the retail aspect will move online and that those who are new to cannabis will continue to visit dispensaries for the first little bit to educate themselves and to ask questions before moving to the online platform as well.
To listen to the full interview, click here.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).