1933 Industries (CSE: TGIF) to begin cultivation operations in Las Vegas
As 1933 Industries’ (CSE: TGIF) Chief Executive Officer Chris Rebentisch said in his interview with Let's Toke Business, TGIF has received approval to transfer its cultivation licenses and to commence cultivation operations at its newly constructed facility in Las Vegas.
Mr. Caleb Zobrist, Executive Vice President and Legal Counsel said, “Having the licenses in place enables us to commence cultivation operations in the new facility immediately.”
With all site work completed, TGIF will begin transferring its cannabis plants, including 5,000 clones, and 200 moms to populate the new facility, with the aim of completing 2 full zones or six rooms within a week in its first phase. The clones will vegetate for about four weeks before beginning the flower cycle. Once the new facility is fully operational and all systems are optimized, TGIF expects to produce approximately 700-800 lbs. of dried cannabis per month, to be utilized for its AMA branded flower and concentrate products currently sold to licensed dispensaries throughout Nevada. AMA’s live resins and vape pens are TGIF’s best-selling items.
The new facility will provide better control over the input material for its live resin products and use a flash freezing fresh flower process to preserve monoterpenes that are not found in cured biomass.
This process allows the Company to extract a better representation of the full terpene profile of the flower for increased potency and better taste. Director of Cultivation Tim Spencer said, “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.”
Although revenue from the new facility will not begin until later in 2019, moving the plants is the next step on the way to a major boost in revenues over the next twelve months. I think TGIF shares are trading at approximately one times sales over the next twelve months. This is why I believe 1933 Industries is an outstanding candidate for high growth oriented portfolios.