1933 Industries unveils up to C$4.5M private placement

1933 Industries Inc (CSE:TGIF) (OTCQX:TGIFF) told investors Thursday that it is looking to raise up to C$4.5 million for general working capital via a private placement of 10 million units at $0.45 apiece.

Under the offering’s terms, each unit is made up of one share as well as one warrant. Each warrant allows its holder to purchase one share at a price of C$0.50 per share for a period of 24 months following the closing date of the offering, subject to 1933’s acceleration of expiry right.

READ: 1933 Industries releases short film touting the history and benefits of marijuana

The offering is fully subscribed and its closing date is expected to occur on or about March 15.

Headquartered in Vancouver, 1933 is a vertically-integrated cannabis company with businesses in the US and Canada that operates via three subsidiary companies. The company owns 91% of both Alternative Medicine Association and Infused MFG as well as 100% of Spire Global Strategy.

1933 finished slightly higher Wednesday to close at $0.38 in US trading.

Contact Ellen Kelleher at [email protected]

Story by ProactiveInvestors