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Tuesday, November 24, 2020

Get 1933 Industries Inc (OTCMKTS:TGIFF) on the Radar… Here’s Why

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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 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 Alternative Medicine Association and 100% of both Infused MFG. and Spire Global Strategy.”

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As noted above, TGIFF 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.

We’ve witnessed 18% piled on for shareholders of the company during the trailing week. In addition, the stock has benefitted from a jump in recent trading volume to the tune of 80% above its longer-run average levels.

Mr. Brayden Sutton, President & CEO, said “We are pleased to complete the Sale Transaction and leverage our real estate asset to support our growth.  We funded the purchase of the land and construction of the facility without incurring any debt, so the full sale proceeds are available for working capital and to fund acquisitions in key cannabis markets. Our diligent adherence to efficient capital allocation and sound operational practices has led us to maintain a strong financial position which will propel us into our next growth stage”.

Earning a current market cap value of $101.7M, TGIFF has a significant war chest ($4.5M) of cash on the books, which must be weighed relative to about $984K in total current liabilities. The company is pre-revenue at this point. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $TGIFF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $TGIFF, either long or short, and we have not been compensated for this article.

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