VANCOUVER , Feb. 14, 2020 /CNW/ - 1933 Industries Inc. (the "Company" or "1933 Industries") (TGIF.CN) (TGIFF), a vertically-integrated and growth-orientated cannabis consumer packaged goods company, is pleased to announce that, further to its news release dated January 7 th, 2020, the first harvest of cannabis plants from its California operation is currently under way and reports that it has commenced distribution of California -compliant full spectrum Canna Hemp™ products to dispensaries in the state.

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First commercial harvest marks the California debut of AMA and Blonde™ Cannabis products

Following the completion of a combined 20,000 sq. ft. expanded cultivation, extraction, manufacturing and distribution facility in the Los Angeles area, the Company began harvesting its first cannabis crop this week to be utilized for both its proprietary brand, Alternative Medicine Association (AMA) as well as for its licensing partner, luxury brand Blonde™ Cannabis, with products earmarked for dispensaries for the first time outside of Nevada . With crops of Mimosa and SFV OG, the harvest will be utilized for AMA premium packaged flower, pre-rolls and Blonde™ products. Over a period of approximately three weeks, harvested plants will enter a drying and curing process and laboratory testing with product expected to be available in early March.

Full spectrum Canna Hemp™ CBD products entering the competitive California market

The Company established local manufacturing for its proprietary cannabidiol (CBD) wellness line containing California -compliant full spectrum CBD for direct distribution to local dispensaries. The Company reports that the initial run of 30,000 units of full spectrum CBD Canna Hemp™ products passed required state compliance testing and will be delivered to dispensaries this week. Initial products available include, Canna Hemp™ elixirs, vape pens and cartridges, and Canna Hemp X™ elixirs, with Canna Hemp™ Relief creams available later in February.

Market Update and Management Commentary by Mr. Chris Rebentisch , CEO

While the landscape of the entire cannabis sector has changed dramatically and continues to be under pressure, we would like to reassure our investors that the current share price does not reflect our business operations as we continue to execute our strategy. With two capital projects now completed, we are on track to deliver two key infrastructure projects over the next several months that will allow us to fully control our input materials, lower our costs of production, increase our revenues and margins with profitability as our key priority in fiscal 2021 and beyond. We are continuing to achieve further efficiencies across our operations, managing our cash position conservatively and controlling expenses to endure current market conditions.

Nevada cultivation, tetrahydrocannabinol (THC) extraction expansion and GMP hemp extraction lab updates

We are on schedule to harvest commercial crops every 14-18 days from the Las Vegas cultivation facility starting in March. We have 5 harvest zones with plants growing in various stages for 4 of the 5 zones. We are pleased to report that the biomass from the first harvest from this facility has been utilized to produce our line of high value concentrates for the Nevada market and leverage one of most exciting verticals within the cannabis industry.

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