1933 Industries Inc. (CNSX:TGIF) entered into a binding letter of intent to acquire Day One Beverages, Inc. on January 14, 2022. Pursuant to the transaction, 1933 Industries will acquire Day One in an all-stock transaction via the issuance of an aggregate of 55,000,000 shares of common stock of 1933 Industries. 45,200,000 shares will be issued at closing and the balance of 9,800,000 shares will be issued subsequent to closing in quarterly installments. In addition, the vendors will be eligible to receive up to a further 27,500,000 share purchase warrants of the Company, exercisable at a price of $0.0545 (USD) per share based on the achievement of certain gross revenue milestones over a period of 30 months following the closing of the transaction. The transaction is subject to regulatory approval and is expected to close on or around January 31, 2022.

1933 Industries Inc. (CNSX:TGIF) cancelled the acquisition of Day One Beverages, Inc. on May 11, 2022. The Company and Day One have agreed to terminate the LOI after determining that it is in each party's best interest to continue operating as independent companies. Day One will repay a loan made by 1933 Industries pursuant to the terms of the LOI in the amount of $482,571.24 including repayment of the outstanding principal balance, interest accrued, and other fees accrued (the "Loan Repayment"). The Loan Repayment is due and payable in full on or before June 30, 2022. In addition, Day One will reimburse 1933 Industries for costs incurred of US$30,051.84, which is due on or before June 9, 2022. While intended to be a full and final settlement of the terms of the LOI, in the event the Loan Repayment is not made by June 30, 2022, the Company will retain all its rights under the LOI and the initial loan agreement, including the right to convert the loan balance into shares of Day One at a pre-negotiated valuation of Day One at $4,500,000.