1933 Industries Issues Final Reminder to 2024 Debenture Holders: December 22 Is the Deadline to Convert

Executive Summary

• Final reminder to holders of the 2024 unsecured convertible debentures that today is the last day to submit conversion instructions.
• The Board reiterates that conversion is the preferred method to address repayment inability and strengthen the balance sheet.
• Conversion terms are restated: $0.05 per unit, each unit comprising one common share and one warrant exercisable at $0.05 until 2028; accrued interest will be settled in shares.

Key Details

• Deadline for conversion instructions: December 22 2025 (final day).
• Maturity date of the debentures: December 31 2025.
• Conversion price: $0.05 per unit.
• Each convertible unit includes:
• One common share
• One common share purchase warrant, exercisable at $0.05 per share until December 31 2028, subject to accelerated expiry provisions.
• All accrued and unpaid interest will be settled through issuance of additional common shares.
• The Board has determined the company lacks liquidity to repay the debentures in cash and views conversion as the most constructive outcome.
• CEO Brian Farrell’s statement emphasizing holder support and its impact on financial foundation.

Notable Quotes

“We sincerely appreciate the debenture holders who have already acted to convert and demonstrate their continued confidence in 1933 Industries,” said Mr. Brian Farrell, CEO and Chairman of the Board.

No material financial results, earnings, drilling data, or M&A activity disclosed.