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sur 1933 Industries Inc. (NASDAQ:TGIFF)

1933 Industries Inc. Announces New Financial Movements with Debentures

1933 Industries Inc., a cannabis cultivator and producer based in Nevada, has announced the settlement of its Historical Debentures and the issuance of new Senior Unsecured Convertible Debentures. Following a Debentureholders' Meeting on November 14, 2023, and preceding announcements, the company confirmed the repayment of its previous debentures, expiring December 31, 2023, by issuing $2,423,000 in new debentures and making a cash settlement of $41,000 to ineligible holders.

The new debentures have a two-year maturity period and can be converted into company units at a rate of $0.05 per unit, each comprising one common share and one share purchase warrant. The warrants allow for the purchase of a common share at $0.05 for five years following issuance. The company reserves the right for an early conversion under specific conditions. Interest is set at 10% per annum, to be paid upon maturity.

The distribution of these new financial instruments was conducted under the company’s Canadian base shelf prospectus from November 17, 2022, with details available on the SEDAR website. This move aims to realign the company’s debt and provide a structured path forward for growth and stability.

R. H.

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