Mr. Paul Rosen reports

1933 INDUSTRIES PAUSES CBD MANUFACTURING DIVISION

1933 Industries Inc. will be suspending its Canna Hemp cannabidiol consumer packaged goods subsidiary, as it assesses the viability of the CBD market going forward. The market demand for hemp-infused CBD products has continued to decrease since the COVID-19 pandemic, primarily due to increased competition, the closure of bricks-and-mortar stores and customers exiting the CBD category. The lack of federal rules on CBD products, and the grey area surrounding the introduction of psychoactive Delta 8 compounds into products under the ambiguity of the farm bill, continues to erode the traditional CBD market and hinder future growth.

About 1933 Industries Inc.

1933 Industries is a Nevada-based company, focusing on the cultivation and manufacturing of a large portfolio of cannabis consumer packaged goods in a variety of formats for both the wholesale and retail markets. Its product offerings through its in-house brands include: wholesale flower, prerolls and extracted products under the AMA and Level X brands for the Nevada market; and Canna Hemp, a national cannabidiol brand of wellness products that includes tinctures, gummies, topicals and sports recovery products. The company owns 91 per cent of Alternative Medicine Association LC and 100 per cent of Infused MFG LLC.

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