Mr. Brayden Sutton reports

1933 INDUSTRIES CLOSES $4.5 MILLION NON-BROKERED PRIVATE PLACEMENT

1933 Industries Inc. has closed its previously announced non-brokered private placement which raised total proceeds to the company of $4.5-million.

Pursuant to the offering, the company issued 10 million units at 45 cents per unit. Each unit consists of one common share and one common share purchase warrant of the company. Each warrant entitles the holder to purchase one share at a price of 50 cents per share for a period of 24 months following today's closing date of the offering, subject to the company's right to accelerate expiry in certain circumstances described below.

The units shall be subject to a four-month-and-one-day hold period commencing on the closing date. The units were sold pursuant to private placement exemptions available in Canada.

If at any time following the hold period and prior to the expiry date of the warrants, the company may force the acceleration of the warrants on less than 30 days notice should the trading price of the shares on the Canadian Securities Exchange be greater than 75 cents for any 10 consecutive trading days.

The net proceeds of the offering will be used for general working capital. The offering was fully subscribed by one placee, Paul Rosen.

"We are extremely pleased to welcome Paul as a strategic investor in the company," said Brayden Sutton, president and chief executive officer. "Paul has been involved with some of the most iconic cannabis businesses in Canada and across the world. As an industry veteran and visionary, Paul shares our view of the rising opportunities in the U.S. as more states develop regulations and open up cannabis markets."

"1933 Industries has an experienced and exceptional team of operators in an exciting and quickly expanding industry. The company's business model incorporates cultivation, extraction, processing, manufacturing, branding, distribution and ancillary services. There are only a handful of companies that have been able to accomplish this in a short period of time," commented Mr. Rosen. "There is a massive market opportunity in the U.S. cannabis industry and the company is well positioned for growth."

Paul Rosen

Mr. Rosen is a noted career entrepreneur, management consultant and public speaker. Over the last six years, he has become one of the most active entrepreneurs and investors in the emerging global cannabis industry. He is a co-founder of PharmaCan Capital Corp., and served as president and CEO for three years, following which the company underwent a corporate rebranding to become Cronos Group. Mr. Rosen is a founder and former CEO and chairman of Tidal Royalty Corp. and sits on the boards of iAnthus Capital Holdings, Hill Street Beverages and High Tide Ventures.

About 1933 Industries Inc.

1933 Industries is a vertically integrated cannabis company with operations in the United States and Canada. Operating through three subsidiary companies, 1933 Industries owns licensed medical and adult-use cannabis cultivation and production assets, proprietary hemp-based, CBD (cannabidiol) infused products, CBD extraction services and a specialized cannabis advisory firm supporting clients in security, intelligence and due diligence. The company owns 91 per cent of both Alternative Medicine Association and Infused MFG and 100 per cent of Spire Global Strategy.

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