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1933 Industries Offers Cannabis Flower, Pre-Rolls To Nevada Customers

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1933 Industries Offers Cannabis Flower, Pre-Rolls To Nevada Customers

Cannabis consumer packaged goods company 1933 Industries Inc. (CSE: TGIF) (OTCQX: TGIFF) expanded its portfolio by adding flower and pre-rolls to its product offerings.

The Chilliwack, Canada-based company — which operates within Nevada, Colorado, and California — opted for this move since dispensaries in Nevada posed a month-over-month increase of 52% in cannabis sales, following the resumption of in-store sales in May.

BDS Analytics' data suggest that Silver State dispensaries generated $58.2 million in sales during May. That's a decline of about 6%, year-over-year.

Moreover, flower sales in the state amounted to over $30 million in the same period, according to BDS.

In addition, sales of pre-rolled joints accounted for over 9% of overall sales in the same month.

Eugene Ruiz, president of 1933 Industries, said Wednesday that the cannabis flower market in Nevada is "thriving."

The company, which has been focusing on the wholesale of cannabis concentrates in the past, said it’s launching a new revenue stream with the newest portfolio additions.

"With the Company's past frustrations and struggles behind it, we are now reaching a notable milestone with valuable new inventory to sell into our 53 and growing list of dispensary accounts," continued Ruiz.

He further explained they expect wholesale demand across the product portfolio to accelerate as the market in Nevada readjusts "post-COVID."

However, Nevada has a ways to go in its handling of the coronavirus pandemic. The state's daily death toll from COVID-19 just reached its highest number with 28 new deaths, the state reported this week.

The total COVID-19 death count for Nevada hovers 676 as of July 20. 

Earlier this year, 1933 Industries touted it has started the second harvest of cannabis plants at its cultivation facility in Las Vegas.

That was "an important milestone for our company as we move into full production," said the company's CEO Chris Rebentisch in March.

Courtesy photo

 

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