VANCOUVER, Dec. 20, 2018 /CNW/ - 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE: TGIF) (OTCQX: TGIFF) a licensed cultivator and producer of cannabis flower and concentrates and manufacturer of hemp/CBD products in Nevada, Colorado and California, is pleased to announce that it is making preparations to substantially increase its capacity to produce cannabidiol or "CBD" extracts from its initial target of 200 kgs. to an estimated 2,000 kgs. per month.
The Company is also pleased to announce that it has received the necessary approvals for new zoning and permitting for hazardous materials from the County Town Board, the Planning Commission and the Board of County Commissioners from Clark Country in Nevada, to move ahead with proposed plans to renovate the Company's 12,160 sq. ft. building, which will house a cannabis production facility as well as the proposed CBD Lab. The Company has already secured an Industrial Hemp Handler Certificate from the Nevada Department of Agriculture (NDA) Industrial Hemp program.
With renovations expected to begin shortly after design plans are approved, the proposed state-of-the-art CBD Lab will process wholesale hemp-derived CBD extracts, utilized to produce full spectrum oils, distillates and isolates.
"We are making strategic investments in expanded capacity to produce isolated cannabidiol extract to establish ourselves as a market leader in the CBD industry and to position the Company for the exponential growth of one of the fastest growing segments in the cannabis industry", commented Mr. Chris Rebentisch, USA Chief Operations Officer and Founder of Infused MFG., a subsidiary of 1933 Industries. He added, "As pioneers in the cannabis industry in Nevada, we have the vision, resources, know-how and in-house talent to ensure a successful venture into this emerging and exciting field."
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 both Alternative Medicine Association and Infused MFG. and 100% of Spire Global Strategy.
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.