Business

Tinley’s plan can first be implemented at the Long Beach facility in the week of March 7, 2022.Canadian Business Journal to start production in Canada and complete financing with contract manufacturer

Toronto and Los Angeles, February 28, 2022 (GLOBE NEWSWIRE) — Tinley Beverage Company Inc. (CSE: TNY; OTC: TNYBF) (“Tinley’s” or “Company”) provides up-to-date information on US and Canadian companies. To do. Announcing the end of the second tranche in a private placement.

The latest information on the company

Long Beach Facility: Line Set Available to Manufacture Client Product Week March 7, 2022
We are pleased to announce that customer-supplied materials needed for can line production at Tinley’s Long Beach facility, which has been delayed due to supply chain issues, will be picked up on-site by the end of next week. We have confirmed that Lakewood Libations Inc. can schedule the first commercial production run on the recently completed Codi can line, scheduled for the week of March 7, 2022.

Launching the Tinley brand in Canada
We are pleased to report the first production of Tinleys ’27 in Canada.TM Smooth Coconut, the Canadian version of the California Emerald Cup-Award-winning TinleysTM The ’27 Coconut Cask will be completed this week by a contract manufacturer licensed by Ontario. These products will be delivered to the Ontario Cannabis Store (“OCS”) warehouse in mid-March 2022 and will be available at Ontario pharmacies in April 2022.

Production of Tinleys ClassicsTM Mystic Dub, the Canadian version of its Tinley tonicTM La Paloma Mystic Dove has been delayed due to a recent border closure affecting the timing of delivery of raw materials to British Columbia licensed contract manufacturers. Production is currently scheduled for March 2022. As a result, the OCS has agreed to postpone the launch of this SKU to the second phase of the product release in the spring of 2022, making Mystic Dove available to pharmacies in Ontario in May 2022.

We continue to work with licensed contract manufacturers and distributors to meet various state board presentation requests and 2022 listing periods. The latest information regarding the Alberta Gaming and Liquor Commission (“AGLC”) decision for the April 2022 listing is scheduled for late March 2022. ). Tinley’s will provide shareholders with ongoing updates on current planned production and release dates and progress towards additional distributions across Canada.

Non-mediated private placement closing

We are pleased to announce the end of the second tranche of our 3,450,000 (“units”) non-mediated private placements (“private placements”) for a total of $ 517,500. Each unit consists of one common share of Tinley’s capital (“common stock”) and one common stock purchase warrant (each “warrant”). Each warrant can be exercised into one common stock (“Warrant Stock”) at a price of C $ 0.20 for 24 months from the date of issue. Considering the services of certain qualified finder that introduced subscribers to Tinley’s in a private placement, we issued a total of 108,000 reward options (“compensation options”) and earned 108,000 units at a price of $ 0.15 per unit. (Each unit consists of the same securities issued to the subscriber under a private placement and paid a total cash fee of $ 13,800 to such a finder. The net income from the private placement is operating funds, Used for capital spending, marketing, establishing new business lines, and investigating potentially increasing transactions, including potential mergers and acquisitions. Units, common stocks, compensation options, warrants and warrant stocks are closed dates. It is subject to the statutory holding period of 4 months and 1 day.

About Tinley Beverage Company and Beckett’s Tonics

Tinley Beverage Company Inc. (CSE: TNY; OTC: TNYBF) has developed non-alcoholic Tinley’s ™ ’27 and Tinley’s ™ Classics products infused with terpenes and cannabis, a state-licensed manufacturing facility in Long Beach, California. We are licensing. These will be distributed to authorized pharmacies and courier channels in California. Expansion of these products to be manufactured and sold in Canada is currently underway. These non-alcoholic, terpene-injected, non-cannabis versions of Beckett’s Classics ™ and Beckett’s ’27 ™ are available in some mainstream food, beverage and specialty stores in the United States and online. At some grocery and specialty stores in Canada. Tinley’s facility in Long Beach, California has some of the state’s most versatile and technologically advanced cannabis-licensed beverage brewing equipment, including company-owned brands as well as third-party branding and first miles. We provide distribution services under one roof. Visit www.drinktinley.com, and www.drinkbecketts.com Twitter and Instagram (@drinktinleys and @drinkbecketts) for recipes, product information, and courier options.

Description of future prospects

This news release contains forward-looking statements and information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities law. Forward-looking statements are not historical facts, but statements and information that include financial forecasts and estimates, plans, goals, objectives and intent, statements regarding future businesses and expectations of the Company, and statements regarding the Company’s financial results. Previously announced Lakewood Libations, Inc. Acquisition, timing of closure of additional private placement trunch, timing of strengthening our manufacturing capacity and execution of production, revenue growth, management expectations for growth, expected profits from facilities, equipment upgrades, on Expected benefits from the First Mile distribution service enabled by the site distribution license, timing of submission to the Canadian State Cannabis Commission, timing of manufacturing, distribution, and launch of Tinley infusion products in Canada, and such terms. The phrase “continuous”, “estimate” as es, “expects”, or its negatives, or other variations thereof, or equivalent terms, or events or conditions that refer to future events or results, that contain “occur”. An equivalent term that refers to an achieved or future event or result that “does”, “potentially”, “potentially”, or “needs to occur”. Factors that may cause actual results to differ materially from forward-looking statements include delays or failure to obtain approvals for required government, environment, or other projects, political risks, availability, and cost. Includes, but is not limited to, certainty. Future funding needs, stock market changes, inflation, exchange rate changes, commodity price fluctuations, project development delays. Forward-looking statements are subject to significant risks and uncertainties, as well as other factors that may cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are current as of the date of this document and we are not responsible for updating or revising them to reflect new events or circumstances, except as required by law. Hmm. The products, formulations, and timelines outlined in this document are subject to change at any time.

For more information, please contact:

Tinley Beverage Company Inc.
Ted Jitter
(310) 507-9146
Relations@drinktinley.com
Twitter: @drinktinleys and @drinkbecketts
Instagram: @drinktinleys and @drinkbecketts
www.drinktinley.com
CSE: TNY; OTC: TNYBF

The photos that accompany this announcement are available at the following URL:

https://www.globenewswire.com/NewsRoom/AttachmentNg/2235909f-b50b-4a86-b1d6-26c4a7994ff7

https://www.globenewswire.com/NewsRoom/AttachmentNg/470cc594-65a8-40b7-b532-64b41275dde5


CBJ News Maker

Tinley’s plan can first be implemented at the Long Beach facility in the week of March 7, 2022.Canadian Business Journal to start production in Canada and complete financing with contract manufacturer

Source link Tinley’s plan can first be implemented at the Long Beach facility in the week of March 7, 2022.Canadian Business Journal to start production in Canada and complete financing with contract manufacturer

Related Articles

Back to top button