1933 Industries Continues to Operate as Essential Business in Nevada

1933 Industries [stock_market_widget type="inline" template="generic" color="default" assets="TGIF.CN" markup="(CSE: {symbol} {currency_symbol}{price} ({change_pct}))" api="yf"] has reassured the market that it will continue ramping up production in Nevada to meet increased demand for its cannabis concentrates.

Today the state ordered all nonessential business to close for 30 days as authorities desperately bid to contain the coronavirus outbreak. COVID-19 has now killed at least 115 Americans and more than 7,500 people have been infected across the country.

Bars and restaurants have shut their doors and citizens are isolating themselves as the authorities try to stem the spread. However, cannabis operators and licensed dispensaries are considered essential businesses in Nevada, so operations will continue at 1933 Industries’ production and processing facility.

The firm’s second harvest in the Silver State remains on schedule for the end of March. The company has promised to continue upholding the strictest standards in cleanliness and hygiene, while monitoring the evolving coronavirus situation.

“Our utmost priority is to ensure the health and well-being of our employees, partners and customers and we are taking the recommended steps to mitigate the risks of spreading the disease,” said chief executive Chris Rebentisch.

1933 has proprietary Alternative Medicine Association and Canna Hemp brands, and it works with various licensing partners in the state. It said it would continue to mitigate risks, create a safe environment and provide the “absolute best cannabis products in the market”.

The U.S. cannabis industry has been hit by store closures in certain states, but many dispensaries have reported record sales as consumers stockpile in preparation for a coronavirus lockdown. 1933 Industries has established itself as a leading multi-state operator in Nevada, Colorado, and California, and it aims to continue serving customers in the weeks and months ahead.

Last month, the British Columbia-based company announced its first California harvest. Rebentisch laid out plans to lower the cost of production in order to increase profitability in Nevada and California.

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1933 Industries is a market awareness client of Capital 10X.

The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Capital 10X hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.

Martin Green is an experienced journalist with a strong focus on the cannabis, alcohol, and gambling industries. He is particularly interested in the political issues affecting the global marijuana trade, and he has a keen focus on regulation changes and legal topics. He holds a BA English Literature, MA Creative Writing and a National Qualification in Journalism diploma. He has worked in journalism since 2009 and written for a broad range of newspapers, business titles and magazines, including The Sun, The Metro, The Journal, Livestrong, Drinks Retailing News, Harpers, Sportsbook Review, Vital Football, Essex Live and Surrey Live. Address: 682 Indian Road, Toronto, Ontario, M6P 2C9. Phone: 416-721-8257.
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