1933 Industries Inc. (the “Company” or “1933 Industries“) (CSE: TGIF) (OTCQX: TGIFF), a vertically-integrated cannabis consumer packaged goods company, is pleased to announce that it will close a non-brokered private placement financing (the “Offering” or the “Units”) on November 3, 2020 (the “Closing Date”). The Offering will consist of the issuance of 13,920,000 Units at a price of US$0.05 (CDN$0.066), for gross proceeds of US$696,000 (CDN$918,720)*.
Each Unit is comprised of one common share of the Company (each a “Common Share”), and one transferable share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one Common Share at an exercise price of US $0.08 (CDN$0.106) per Unit for a period of 18 months from the Closing Date.
The Units shall be subject to a four month and one day hold period, expiring on March 4, 2021. The Units are sold pursuant to private placement exemptions available in Canada and certain foreign jurisdictions.
The net proceeds of the Offering will be used for general working capital.
Mr. Paul Rosen, CEO of 1933 Industries said, “We are pleased to raise additional capital for the Company as we continue to refocus our business strategy in our core market of Nevada. Our key priorities have been and will continue to be attaining profitability in the foreseeable future. We are strengthening the distribution for all our branded products, as our Canna Hemp™ CBD line enters new channels via CBD Plus and Mr. Checkout across the US, and as we bring new THC products to market in Las Vegas. We see 1933 Industries developing a dominant position in Nevada with paid-up infrastructure, quality, premium products and the continuous buildup of our brands.”
The Units will be sold pursuant to private placement exemptions available in Canada and certain foreign jurisdictions. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the