THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS.
TORONTO and LOS ANGELES, April 23, 2019 (GLOBE NEWSWIRE) -- The Tinley Beverage Company Inc. (the “Company" or "Tinley") is pleased to announce that its manufacturer in the Coachella Valley, California (“Manufacturer”) has shipped inaugural batches of the Company’s liquor-inspired Tinley™ ’27 cannabis beverages. This release is approximately one month ahead of schedule, reflecting the capabilities of the Company’s recently-commissioned Phase 2 facility.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/41d63e81-54f2-46b2-8201-3fd79c375795.
Like Tinley’s margarita and Moscow Mule-inspired products, the Tinley™ ’27 products were crafted by formulators who had created national brand liquors. They therefore contain authentic extracts, flavors and spices that are commonly found in such products. They also contain just 10 calories and 1-2 grams of natural cane sugar per serving – roughly 1/10th of leading adult beverages – and are vegan as well as gluten-free.
The cinnamon whisky-inspired “Cinnamon Cask” is based on what has become the most popular shot drink in the USA. It is also commonly mixed into cocktails with ginger brew, black tea and lemonade. The Italian Amaretto-inspired “Almond Cask” is commonly used to mix with coffee, sodas, fruit juices, as well as in popular cocktails including the Alabama Slammer and Amaretto Sour (which can now be consumed as cannabis-infused mocktails without alcohol) and on desserts including tiramisu.
The completion of these products one month ahead of schedule reflects the enhanced capabilities of the Company’s recently-commissioned Phase 2 facility. The company continues to benefit from the elimination of the production and revenue constraints that had existed with the Company’s Phase 1 equipment. As with all of the Company’s products, the inaugural batches of Tinley™ ’27 that shipped to one of the Manufacturer’s distributors were produced as a “pilot” batches. As such, they will be made available at a limited number of dispensaries, intended primarily for dispensary outreach, consumer demonstrations and product awareness. Upon the pilot batches passing state testing, the Company will begin scaled production of additional batches of these products in its updated 2019 packaging (as shown above). These additional batches would be in addition to the $200,000 of backorders that the company has for its margarita and Moscow Mule-inspired products, as announced last week. As previously disclosed, there is no assurance that all of these products will ship or that the Company will be in a position to recognize this revenue if these shipments occur – however the Company intends to keep the market abreast of shipments as they occur.
With these additional batches scheduled for completion in May, the Company is nearing a point where its line will have more line time available for co-packing clients. The Company is accordingly working to consummate longstanding discussions with prospective brands.
“We’re delighted to have completed the inaugural production of these two new products so soon after shipping our ready to drink products. Our team continues to apply skills honed at the USA’s leading brewers, distillers and beverage alcohol distributors to create true CPG-quality cannabis beverages. We now intend to similarly apply best-of-breed marketing and visibility programs throughout the summer in Los Angeles, San Francisco and in key California markets,” said Ted Zittell, director of Tinley.
About The Tinley Beverage Company
The Tinley Beverage Company (Santa Monica, California) created the Tinley™ Tonics, Tinley™ ’27 and Hemplify® line of cannabis and hemp CBD beverages. The Hemplify® CBD beverages are available in mainstream stores in California, while the Tinley™ Tonics and Tinley™ ’27 line of liquor-inspired, non-alcoholic, cannabis-infused beverages are available in dispensaries throughout the State. The Company is also building a 20,000 square foot cannabis beverage manufacturing and distribution facility in Long Beach, California.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains or refers to forward-looking information and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
Products, formulations and timelines outlined herein are subject to change at any time. All figures CAD unless otherwise indicated.
For further information on The Tinley Beverage Company, please contact:
The Tinley Beverage Company Inc.
3435 Ocean Park Blvd. #107
Santa Monica, CA 90405