1933 Industries Inc. Announces Suspension of Its CBD Manufacturing Division

On March 12, 2024, 1933 Industries Inc., a Nevada-based cannabis cultivator and producer, declared the suspension of its Canna Hemp™ CBD product line. The decision stems from an ongoing evaluation of the CBD market's feasibility, faced with declining consumer demand since the onset of the COVID pandemic. The company attributes this downward trend to increased competition, the closure of physical stores, and a shift away from the CBD category by consumers. Moreover, the unclear federal regulations on CBD products and the introduction of psychoactive Delta 8 compounds, exploiting the Farm Bill's vagueness, have further weakened the traditional CBD market and impeded its growth.

Notably, 1933 Industries has a diverse portfolio, focusing on cultivating and manufacturing cannabis consumer-packaged goods across various formats. Its product range extends beyond the now-suspended Canna Hemp™ line, including wholesale flower, pre-rolls, and concentrated products through its AMA and Level X brands, catering exclusively to the Nevada market.