1933 Industries (TGIF.C) received permission from Clark County and the Nevada Department of Taxation to move its cultivation licenses to its new facility.
This is good news for 1933, because now they’ve finished their cultivation facility and gotten permission to transfer the licenses, they can also move their cannabis plants, which include 5,000 clones, and 200 mothers, to the new site.
1933 wants to populate two full zones, or six rooms, with cannabis plants, within a week of its first phase.
“We have worked closely with county and state authorities to ensure the smooth transfer of our cultivation licenses from the old facility to the new one. Having the licenses in place enables us to commence cultivation operations in the new facility immediately,” Caleb Zobrist, executive vice president and legal counsel for TGIF, said.
The company will commence acclimatizing the plants in the new rooms and ensure that all life support systems, like temperature, irrigation, light and humidity controls, are functioning like they should be, according to Tim Spencer, director of cultivation.
The plants enter a vegetative state, where growth is encouraged by controlling the amount of light the plant receives. If the plant receives 18 hours of daylight or more on average, it will continue to grow without flowering.
Once the clones have vegetated for a month they will enter the flower cycle.
The company’s expected production is in the 700-800 pound range per month, which will be used for its Alternative Medicine Association (AMA) branded flower and concentrates and sold in dispensaries throughout Nevada.
The build-out has expanded its concentrate production area from 483 to 2,215 square feet. The expected production capacity will increase from 40 to 80 litres per month to cover supply for their branded products and white-label partners.
“Our 26 in-house plant varieties were carefully selected for their quality and terpene profiles. Our goal is to cultivate premium flower to produce the best concentrates in the Nevada market at reasonable prices. We are also excited to begin working with our world class breeder partner, OG DNA Genetics, as soon as we settle in our new facility,” said Spencer.
When the plants are moved to the new facility, the company will get to work on submitting a layout to the City of Las Vegas to get permission for improvements on the facility. They have already sourced the extraction equipment, and a permit will be submitted to the state for those. The company anticipates expanded operation to begin in fall, 2019.
Moving into hemp
The company has started working with an engineering firm to build and customize the equipment needed to build one of Nevada’s largest hemp extraction facilities. Increased output capacity and extraction and isolation versatility for various other cannabinoids including CBD, and the ability to produce full spectrum and broad spectrum oils.
The facility’s processing capacity is estimated at approximately 68,000 kilograms of hemp biomass or 150,000 pounds per month, producing approximately 5,000 kilograms. of full spectrum oils or 4,500 kilograms of CBD isolate.
Shares of 1933 Industries are stable at $0.42.
The company has 279,584,948 total issued and outstanding shares and a market cap of $117.4 million
—Joseph Morton
Full Disclosure: 1933 Industries is an equity.guru marketing client.
