In This Article:
VANCOUVER, BC / ACCESS Newswire / January 24, 2025 / 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE:TGIF)(OTC PINK:TGIFF), a Nevada-focused cannabis cultivator and producer, provides an update to its news release dated November 29, 2024 (the "Announcement") announcing its request for a management cease trade order (the "MCTO") relating to the late filing of the Company's audited financial statements, management discussion & analysis and applicable CEO and CFO certifications for the year ended July 31, 2024 (the "Audited Filings").
The Company's principal regulator, the British Columbia Securities Commission (the "Commission"), granted the MCTO on November 29, 2024, under National Policy 12-203 - Management Cease Trader Orders ("NP 12-203"). Pursuant to the MCTO, Paul Rosen, Chairman and Chief Executive Officer, Brian Farrell, Chief Financial Officer, and Curtis Floyd, Director, may not trade in the securities of the Company until such time as the Company files the Audited Filings and the Commission revokes the MCTO. The Company further announces that it will not meet the filing deadline of January 27, 2025 as per mandated by the Commission and expects to receive a Cease Trade Order. The Company's Board of Directors and management are continuing to work with its accounting team and other stakeholders to prepare the Audited Filings and it is the Company's expectation that the Audited Filings will be completed during the month of February 2025, upon which the Cease Trade Order will be lifted.
The Company confirms that, since the date of the Announcement: (i) there has been no material change to the information set out in the Announcement that has not been generally disclosed; (ii) the Company is not subject to any insolvency proceedings as of the date of this news release and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
In addition, the Company's Q1 2025 financial report, including financial statements, management discussion & analysis and applicable CEO and CFO certifications for the year ended Oct. 31, 2024, will not be filed until the Audited Filings are filed.
About 1933 Industries Inc.
1933 Industries is a Nevada-based licensed producer, focused on the cultivation and extraction of a large portfolio of cannabis consumer products in a variety of formats under its flagship brands, Alternative Medicine Association (AMA) and Level X. Its product offerings are cultivated at the Company's 68,000 sq. ft. indoor facility and marketed directly to retail dispensaries. AMA branded flower, infused pre-rolls, and in-house boutique concentrates consistently rank as the top products sold in Nevada. For more information, please visit www.1933industries.com