If you haven’t been watching 1933 Industries Inc (OTCMKTS:TGIFF) shares, you might want to start. The cannabis player has been breaking out, moving above both of its major moving averages to challenge key levels, with a major breakout above if it can trigger above the $0.45 level. To make matters significantly more interesting, the company just announced that its subsidiary, Alternative Medicine Association, has completed a sale and lease back for its newly constructed cannabis cultivation facility in Las Vegas, Nevada.
According to the release, “the purchase price for the Sale Transaction is USD$10,450,000, which the Company has received, subject to a USD$500,000 hold back to be released upon the completion of the facility and issuance of permanent occupancy permits, and a USD$250,000 hold back to be released upon issuance of state and local permitting for the facility. AMA anticipates receipt of all permits and approvals for full cultivation operations within 45 days. The Sale Transaction includes the cultivation facility as well as the 1.39 acres of land it sits on.”
1933 Industries Inc (OTCMKTS:TGIFF) trumpets itself as a cannabis company that engages in the cultivation and production of medical marijuana in the United States and Canada.
The company produces, packages, and markets industrial hemp-based and cannabidiol (CBD) infused products, such as flowers and concentrates, as well as canna hemp, pet, and X products. It also offers CBD extraction services; and cannabis advisory services in security, intelligence, and due diligence.
The company was formerly known as Friday Night Inc. and changed its name to 1933 Industries Inc. in September 2018. 1933 Industries Inc. was incorporated in 2008 and is headquartered in Chilliwack, Canada.
According to company materials, “1933 Industries Inc. is a vertically integrated cannabis company with operations in the United States and Canada. Operating through three subsidiary companies, 1933