1933 Industries Inc. (CSE:TGIF, FWB:1QF, OTCQX:TGIFF), a licensed cultivator and producer of cannabis flower and concentrates and manufacturer of hemp-derived CBD wellness products, is pleased to provide an update regarding its new hemp extraction facility in Las Vegas, Nevada.
Fully Customized Processing Facility and Equipment
The Company announces that it is progressing with plans to launch one of Nevada’s largest hemp extraction facilities, become a major player in the booming CBD (cannabinoid) industry and add a new significant revenue stream to its business model. The Company, in collaboration with a leading engineering firm, has completed an extensive research and development phase to develop a customized design in order to provide for a larger, more efficient and more robust hemp processing laboratory (“Hemp Lab”) than originally planned. The Hemp Lab has been designed in line with the new regulations and recommendations set out by the recently passed farm bill or Agricultural Improvement Act of 2018.
Increased Capacity and Versatility
The Company plans to deploy a custom-built, ethanol extraction system with full chromatography abilities to allow for isolation of THC, CBD, CBN, CBG, CBC, and several other cannabinoids, including the ability to produce full spectrum and broad spectrum oils, as well as isolates. The equipment is currently being engineered to meet required GMP standards.
The Hemp Lab’s increased capacity is estimated at a maximum monthly throughput of 68,000 kgs. of hemp biomass, producing approximately 5,000 kgs. of full spectrum oils or 4,500 kgs. of CBD isolate. This is an increase in capacity greater than previously announced on December 20, 2018.
Timing and Scope
Once the equipment and new facility design is finalized and approved by the Clark County zoning department in Nevada, construction will commence on the building. Subsequently, the customized equipment will be installed, tested and the Hemp Lab is expected to become operational by the end of the year.
“The Company has invested heavily in the design of its customized equipment to provide maximum capacity and efficiency. We believe that the time and capital invested in the R&D of the facility will provide much larger returns for shareholders in the future,” commented Mr. Brayden Sutton, President and CEO.
Mr. Chris Rebentisch, USA COO and Founder of Infused MFG added, “The Hemp Lab will not only have the ability to process CBD, but it will also have the flexibility to isolate cannabinoids that are emerging in popularity and uses such as CBN and CBG, at commercial scale volumes. Our intention for this new vertical is to utilize all isolates in the manufacturing of our own proprietary consumer branded goods, securing the supply of raw materials, increasing our margins and benefiting from a recurring revenue stream from the sale to other manufacturers”.
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
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.
For further information: Alexia Helgason, Corporate Communications Director, 604-674-4756 (ext. 1), firstname.lastname@example.org; Brayden Sutton, Director/President & CEO, 604-674-4756 (ext. 1)