1933 Industries Inc. (TGIFF)

[JungleJulia]

Hey all. I went to the AGM so here are the highlights of what I heard. I offer no personal opinions with this. Draw your own conclusions and there was a lot to remember so I may have missed a few things. If you have clarifying questions please ask Alexia instead of me.

- meter installation is imminent then a 3 week temporary permit to allow installation of racks, grow lights etc is given, then final inspection and permit to begin operations
- there are large MSO's (no names given) dying to get into Nevada and have been knocking 1933's door for M&A but management wants to build company value more. That said they are fully aware of coming competition (especially big pharma) and they looking for the right company to merge with. For now however organic growth is the plan.
- MGT LOVES Arizona that has legal medical (83000 users) and should be legalizing Rec in 2020. We are sending truckloads of product there right now.
- Mgt has made close business relationships with Planet 13, Medmen, MPX and more retail outlets. Planet 13 is destroying many smaller dispensaries in Vegas (apparently)
- California market is in trouble due to high sales tax, really strict regulations and poor police enforcement against black market (which still the largest segment in Cali) Some retailers are crying the blues as more competition enters the market. Cali needs time to figure things out.
- Online sales in Cali are starting to show signs of overshadowing dispensary sales because it is so much easier than driving through crazy traffic to get to the store (for example). Brayden noted how Origin House is shifting its model from grower and retail to distributor (due to the difficult market conditions there) that most of the market would have to use. Hence the name Origin House.
- at this point Canada's roll out of legalization is terrible and the black market is still going gangbusters. Legal pot is generally lower quality and way more expensive. Initial retail sales has dropped significantly over the last few months and police are doing nothing to curb black market. Mgt is not going to jump blindly into this market. Way better opportunity in the US. Increasing market share in Nevada would be a better play than going into Canada right now according to Sutton. He claims that 1933 has a 6 - 7 % of Nevada's $50 million per month rec sales with great margins. Nevada is also doing a way better job of handling the black market because they have decades of experience of dealing with "vice".
- Brayden says the news reports that Canada is suffering a shortage of supply is wrong. There is a surplus that is coming available soon. There are also crops rotting in storage due to declining demand.
- That article a couple weeks ago saying that 1933 is going to Europe via Asia is a "typo" according to Alexia. Not true.
- Brayden said they were going to deal with all the cheap paper and, Voila!, the next day they accelerated everything.
- They are also courting wall street who are apparently taking notice
- They really want to get on a major US exchange and are working towards it. Watch TGIFF on the OTCQX volume. It is starting to go up which suggests that the US is starting to take notice of 1933 according to Brayden.
- Federal legalization is the next real catalyst to make US sector move. Mgt thinks banking will happen this year which is great but Big pharma is pushing back hard on federal legalization.
- They are also pushing hard into the 46 states they reported on

Overall I left the meeting with confidence in 1933 in tact. Still long and strong.

Cheers!

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