1933 Industries (CSE:TGIF, OTCQX:TGIFF) has announced the addition of premium smokable flower and pre-roll joints to it’s portfolio of consumer-focused cannabis brands.
Over the last two years 1933 Industries has focused solely on the sale of wholesale cannabis concentrates, a category that represents less than 25% of the total revenue in Nevada. The addition of flower to it’s roster now addresses a market representing over 50% of Nevada market – a meaningful opportunity.
The company has built a leading-edge indoor grow facility that has already been growing premium craft cannabis for the last two years. 1933 has introduced 8 high THC, high terpene content cultivars to its craft growing portfolio; these unique cultivars will be marketed under the AMA brand.
Nevada Cannabis Sales Post Strong Rebound
Nevada dispensaries resumed in-store sales in Nevada during the month of May, and recorded a 52% increase in sales compared to the previous month, when brick and mortar stores operated via home delivery and curbside pickup only.
According to BDS Analytics, sales reached $58.2 million in May, slightly down by 6% compared to May 2019 but remaining strong as year-to-date sales reached $273.2 million.
“What this data tells us is that the Nevada cannabis market has weathered the Covid-19 pandemic well and that the market for cannabis flower is thriving,” said Mr. Eugene Ruiz, President of 1933 Industries.
1933 Industries is a market awareness client of Capital 10X.
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