Jul 12, 2019, 08:30 ET
VANCOUVER, July 12, 2019 /PRNewswire/ - 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE: TGIF) (OTCQX: TGIFF), a vertically integrated cannabis consumer packaged goods company that owns licensed cultivation and manufacturing assets to support its brands, reports on its expanded cannabis extraction capabilities and provides an update regarding its hemp extraction facility.
Original AMA cultivation facility to be used for expanded extraction
The Company has commenced plans to utilize its original cultivation facility to increase its extraction capacity for concentrates. Concentrates such as shatter, crumble, sugar, wax, budder, and distillate are sold under the Alternative Medicine Association (AMA) brand and are available in licensed dispensaries throughout Nevada. Distillate is considered the cleanest, clearest and purest form of concentrate and yields high THC percentages. Well-known for its top-quality concentrates, AMA extracts its distillate by using a hydrocarbon extraction process. The Company has made preparations to complete tenant improvements on the building in order to expand its concentrate production area from 483 sq. ft. to 2,215 sq. ft. in the current facility. The expected distillate production capacity will increase from 40 litres per month to 80 litres per month, in order to secure the supply for its branded products as well as for its white label partners.
Once the plants are moved to the new cultivation facility, the Company expects to submit layout plans to the city of Las Vegas for permitting and commence tenant improvements on the original cultivation facility. The necessary extraction equipment has been sourced and will also be submitted to the state for approval. The Company expects the expanded operation to come online in the fall of 2019.
"This is another exciting development for the Company as we increase production of raw materials for our line of concentrates. We are growing, expanding and investing in infrastructure for the growth of our brands," said Ms. Ester Vigil, President of the Company.
Hemp extraction facility will be one of a kind
The Company reports that it has been working with an engineering firm to customize the equipment that will be required to establish one of Nevada's largest hemp extraction facilities, with increased output capacity and versatility for isolation of CBD, CBN, CBG, CBC, and several other cannabinoids, including the ability to produce full spectrum and broad-spectrum oils, as well as isolates, that meet required GMP standards.
Mr. Chris Rebentisch, CEO of the Company remarked, "The process has been scaled up after a lengthy research phase, where we aimed to create a method of extraction using specialized chemistry and equipment in order to obtain a higher yield of CBD, thus increasing our efficiency. The competitive advantage of the new facility will be the isolation of not only CBD but of additional individual cannabinoids at scale, which is unique and novel in the cannabis marketplace."
He added, "The research phase served to engineer and customize our proprietary equipment for the desired scale of the pilot plant, therefore meeting the unique needs of our business. We believe that the capital investment we are making today will have the benefits of lowering our operating and manufacturing costs, increasing cannabinoid extraction efficiency with a higher recapture rate, and bringing higher returns for years to come."
The Company has ordered its customized equipment and is working on the final layout of the facility and will commence tenant improvements once the floor plan and layout has received approval from the city of Las Vegas. Permitting has been completed for fire and city inspections as well as H-3 hazard zoning. Because the customized equipment requires a long lead time, the Company expects that the facility will be operational by year's end.
The facility's processing capacity is estimated at approximately 68,000 kgs. of hemp biomass or 150,000 lbs. per month, producing approximately 5,000 kgs. of full spectrum oils or 4,500 kgs. of CBD isolate.
About 1933 Industries Inc.
1933 Industries Inc. is a vertically integrated cannabis company with operations in the United States and Canada. 1933 Industries owns licensed medical and adult-use cannabis cultivation and production assets, proprietary hemp-based, CBD infused products, and CBD extraction services. Our proprietary brands include AMA, Canna Hemp™, Canna HempX™, Canna Fused™, Canna Hemp Paws™, and Nineteen 33 THC. Birdhouse Skateboards™, OG DNA Genetics, Denver Dab Co., The Real Kurupt's Moon Rocks and Gotti's Gold are under licensing agreements.
About Canna Hemp™
Canna Hemp™ CBD Relief Cream was named "Best Topical" by Leafy's Best in State: The Top State Specific Products and Experiences of 2018. Infused's award-winning transdermal Pain Relief Cream delivers fast-acting targeted relief to areas of discomfort, combating inflammation, arthritis joint pain, backaches, muscles spasms, strains, bruises, cramps, and headaches.
About Canna HempX™
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 to help focus on recovery and wellness. From soothing pain, aiding with muscle spasms, healing assistance for bruises, injuries, or arthritis relief, Canna Hemp X™ bridges the gap between recovery and top performance.
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.
SOURCE 1933 Industries Inc.
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