VANCOUVER, Oct. 12, 2018 /CNW/ - 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE: TGIF) (OTCQB: TGIFF) is pleased to report that its subsidiary, Infused MFG ("Infused"), hit a record year of growth and continues to expand sales of its products in Nevada, California and Colorado.
Increasing demand for Infused's Canna Hemp™ proprietary line of hemp-based, CBD-infused products contributed to the strong revenue growth, which has increased from revenue of US$7,403 in June of 2017 to over US$600,000 per month in just 14 months. This represents an 8,000% increase and supports the company's projections for the upcoming year, where Infused is forecasted to reach an average of US$1M in revenue per month.
With a strong presence throughout the State of Nevada, Infused has established key distribution networks in California, where it now sells its products in over 100 retail shops. In total, Infused boasts over 400 retail locations around the US, with an average of 50 new wholesale accounts added every month. The Company entered the Colorado market last week with the launch of its Canna Fused™ CBD/THC line, in partnership with Denver Dab Co. (October 5, 2018 news release). Canna Hemp™ products could be available in over 100 stores throughout Colorado in the near future. Further expansion targets include Oregon, Arizona and Canada, where the latter could open distribution channels into the European markets.
"We are pleased to be able to achieve an 80x milestone over the past year. We have succeeded in building a business with a strong brand and product line that resonates with many customers seeking the benefits of CBD and hemp", said Mr. Chris Rebentisch, USA Chief of Operations and Founder of Infused. "We would not have been able to achieve this rapid growth without the capital, resources and expertise from our parent company, 1933 Industries", remarked Mr. Rebentisch.
Mr. Brayden Sutton, President and CEO of the Company, said "Our focus has been on producing high quality products infused with hemp/CBD, with over 80 SKUs and more in the pipeline under the Canna Hemp™ and Canna Fused™ brands. We see the CBD market as a key component to our business and a high-growth vertical. We are actively looking for partners in each state to replicate the successful business model."
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.
Please visit our new website at 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.
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SOURCE 1933 Industries
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)