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Tinley Completes Cannabis Inspection and Provides Corporate Update(February 05, 2018)
THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS
SANTA MONICA, Calif. and TORONTO, Feb. 05, 2018 (GLOBE NEWSWIRE) -- The Tinley Beverage Company Inc. (the “Company" or "Tinley") (CSE:TNY) (OTC:QRSRF) is pleased to announce that its intended Phase I cannabis production facility has completed its municipal cannabis inspection for cannabis manufacturing. The Company is also providing an update on its progress since its January 22 corporate update.
Tinley ’27 Cannabis Drinks Launch
The facility in Riverside Country, California is in receipt of a conditional use permit from for cannabis manufacturing and cultivation. It has now completed an inspection for cannabis production by the municipality’s City Planning Commission. The facility has also completed an inspection by the fire department for updated manufacturing equipment and is expecting inspections by the local health and police departments over the next two weeks. Upon successful completion of these remaining inspections, and receipt of final permits, Tinley intends to consummate the agreement with the facility that it has agreed to in principle, as previously disclosed, and subject to entering into the definitive agreement the Company would commence immediate batching and filling. The Company continues to expect the initial batches to take 2-3 weeks to complete upon receipt of such permits. Initial products include the Tinley Margarita and the Tinley ’27 Coconut Rum.
Updated Hemplify Products
The Company has completed approximately 20% of the planned production run of its updated Hemplify products, and the Company expects to complete the remaining production this coming week. As previously announced, the Company has launched a new lemon-lime flavor and an updated version of its berry flavor. The tropical flavor remains unchanged. All three flavors will have updated packaging which reflects the shift in distribution from head and smoke shops to premium health and natural grocery stores. It will also display the “Tinley Tonics” brand. This branding strategy is expected to drive sales of the company’s Tinley ’27 cannabis drinks by creating brand recognition of the Tinley brand in both mainstream, premium store chains as well as in leading dispensaries.
After a normal course QA hold following production, the Company will deploy its sales and merchandising personnel to replace existing inventory on shelves in the 100+ stores where Hemplify is currently available. The Company’s primary distributor has also placed a purchase order for stock in additional stores. Once all 100+ stores are stocked, the Company expects to resume its in-store demo program as well as its on premises and social media marketing, supported by an updated e-commerce store.
About The Tinley Beverage Company, The Tinley Collective and Hemplify
The Tinley Beverage Company (Toronto, Canada) has developed a line of liquor-inspired, cannabis-infused beverages for use in jurisdictions throughout North America where such products are permitted. It is under contract with The Tinley Collective, a California Cooperative Corporation that is engaged in cannabis procurement and distribution within California’s medical cannabis system. Tinley’s wholly-owned subsidiary, Hemplify, Inc. (Santa Monica, CA), manufactures the "Hemplify" and “Tinley’s Tonics” line of products. "Hemplify" is a line of fruit-flavored, sugar-free, vegan, drinkable supplements that contain hemp stalk extract. This extract contains terpenes and other phytoconstituents. Each product also contains 9-12x the potassium electrolyte content of major sports drinks, 200mg of Omega 3 and excellent sources of 9 vitamins, including 100% DV of Vitamin C, B12 and D. The Tinley’s Tonics squeeze supplement is a creamy, chocolate blend of hemp extract, MCT oil and lactose-reduced whey protein. The company is selling its products in 100+ retail locations in California and online throughout the United States.
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 and formulations outlined herein are subject to change at anytime.
For further information on The Tinley Beverage Company, please contact:
The Tinley Beverage Company Inc.
Jeff Maser, Chief Executive Officer
77 King Street West, Suite 2905
Canada M5K 1H1
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