Top

The Tinley Beverage Company Inc

Canadian Securities Exchange (CNSX) | Jul 10, 2020, 12:07 PM EDT

TNY:CNX $ 0.475
CHANGE
0.035 (7.9545%)
VOLUME
153,340
Day Low: 0.44
Day High: 0.475
 Back
Tinley Passes Key Inspection and Continues Operations Under COVID-19 Exemptions

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS.

LOS ANGELES and TORONTO, March 30, 2020 (GLOBE NEWSWIRE) -- The Tinley Beverage Company Inc. (CSE:TNY and OTCQX:TNYBF) is pleased to announce that it has successfully passed its electrical inspections at its 20,000 square foot cannabis beverage bottling and distribution facility in Long Beach, California.

Key Inspection Completed at Long Beach

As previously disclosed, the buildout of the Company’s specialized cannabis bottling facility was completed in late November, with the delivery and installation of a specialized transformer and electrical system being the key outstanding requirement.  The local utilities have now completed this installation, and the facility has successfully passed its municipal electrical inspection.  This has been the key outstanding approval needed on the project, and the Company is expecting the remaining building inspections to take place this week.  As previously disclosed, the relevant regulatory bodies at the state level have indicated that the Company’s cannabis entity has satisfied requirements for receipt of a cannabis manufacturing license, pending satisfactory municipal approvals from the City of Long Beach.  

The Company has nearly completed the decommissioning of its Phase 2 bottling facility in anticipation of Phase 3 becoming operational, and it has manufactured inventory that it believes will be sufficient to last until this commissioning. 

Continued Operations Under COVID-19 Exemptions

Cannabis dispensaries have been deemed essential services under the COVID-19 orders issued in California on Thursday, March 19, 2020.  As a result, licensed adult use and medical dispensaries and the companies that supply them may continue operating under these orders.  Dispensaries throughout the state have reported surges in demand as consumers stock up on cannabis, often with lineups comparable to grocery stores.  With residents throughout the state under a “stay at home” order, fewer opportunities exist for consuming cannabis out of the home, potentially increasing the desirability of smokeless forms of cannabis, such as edibles and drinks.  Much like home deliveries in groceries and other mainstream retail, cannabis home delivery services have reported an increase in demand.  The Company’s products have been restocked and are again available for home delivery throughout California.  Ordering information is available at www.drinktinley.com.

Similarly, the Company’s non-infused line of liquor-inspired tonics can continue to be manufactured and sold while the COVID-19 restrictions are in place, based on the grocery industry’s status as an essential service.  In addition to 150 BevMo! Stores, the Company’s products are slated for trials in a national grocery and a national warehouse-style chain.  The onboarding of additional grocery and warehouse-style chains, however, is impacted by these retailers’ focus on restocking shelves due to the surge in consumer demand since the start of the COVID-19 outbreak, as well as restrictions on product demonstrations.  While these additional stores represent fewer than 10 outlets, these two additional chains collectively represent over 3,000 stores across the USA.  Tinley therefore is endeavouring to complete these trials as soon as possible.  The Company is continuing to present these products to buyers at retail chains throughout the country and will update the market as new listings are secured. 

About The Tinley Beverage Company

The Tinley Beverage Company (Santa Monica, California) created the Beckett’s™ Tonics and Beckett’s™ ’27 line of liquor-inspired, terpene-infused, non-alcoholic, cannabis-free beverages.  It has also created Emerald Cup award-winning, cannabis-infused versions of these products under the Tinley™ Tonics and Tinley™ ’27 brands.  The Tinley™ branded cannabis-infused beverages are available in licensed dispensaries and delivery services throughout California; the Beckett’s™-branded non-THC versions are increasingly available in mainstream food, beverage and specialty retailers, as well as on premises locations, throughout California and elsewhere in the USA.  The Company has also built a 20,000 square foot cannabis beverage manufacturing, co-packing and distribution facility in Long Beach, California.     

Forward-Looking Statements

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
(310) 507-9146
info@drinktinley.com
Twitter: @drinktinley
Instagram: @tinleybeverage
www.drinktinley.com
CSE:TNY OTCQX:TNYBF 

Primary Logo

Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. View delay times for all exchanges. Market Data powered by QuoteMedia. See the QuoteMedia Terms of Use.