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1933 Industries faces $2.6M debt maturity on Dec. 31, urging holders to convert to equity by Dec. 22 to avoid default.
1933 Industries, a Nevada cannabis producer, said its $2.6 million unsecured convertible debentures will mature on December 31, 2025, and it lacks funds to repay them without harming operations.
Despite this, the company reported strong financial gains for the fiscal year ended July 31, 2025, including a record $5.4 million in gross profit and a shift from net loss to net income.
Management is urging debenture holders to convert their debt into equity at $0.05 per unit—comprising a share and a warrant—by December 22, 2025, with accrued interest paid in shares.
The company will not extend the maturity or alter terms, calling conversion the best path for long-term value.
1933 Industries enfrenta un vencimiento de deuda de $2.6 millones el 31 de diciembre, instando a los tenedores a convertirse en acciones para el 22 de diciembre para evitar el incumplimiento.