THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS.TORONTO, Oct. 15, 2020 (GLOBE NEWSWIRE) — The Tinley Beverage Company (“Company” or “Tinley”) (CSE:TNY) is delighted to announce that its Canadian cannabis emulsion provider (“Source Provider”) has begun production of the cannabis-infused emulsion that will be used by the Company’s Canadian manufacturer (“Manufacturer”), for production of Tinley’s award-winning cannabis-infused beverages in Canada. The Manufacturer has received its cannabis processing licence under the Cannabis Act and is therefore now able to take delivery of this emulsified material from the Source Provider.
The emulsion used in Tinley’s acclaimed cannabis-infused beverages in California is manufactured in Canada by the Source Provider, which is licensed under the Cannabis Act, and the material is substantially identical to the emulsion used in California. In combination with Tinley’s broad-spectrum constituent infusion formulations, this emulsification enables consumers to enjoy an uplifting Sativa effect with a rapid onset. The technology also enables consistent dosing, even dispersion of active material throughout the product, and shelf stability. The manufacturing is currently taking place in Canada under the supervision of the relevant California scientific personnel on the Source Provider’s premises.The Company has confirmed that there are no further licensing conditions that the Manufacturer needs to satisfy to take possession of cannabis from the Source Provider such that it can begin its production process for the Company’s products. The Manufacturer has informed the Company that it expects facility readiness this month and is working to complete testing and other normal course items required by applicable law, which include quality assurance and standard operating procedure documentation. The Company’s ability to have its beverages produced in Canada on a commercial scale is dependant on the Manufacturer’s facility being fully operational. As previously disclosed on August 31, 2020, the Company’s agreement with the Manufacturer is subject to a variety of conditions which include the Manufacturer being in a position to commence manufacturing of the Company’s products by October 30, 2020. The Manufacturer is entitled to extensions for both this and production completion deadlines based on a variety of factors, primarily related to availability of the cannabis emulsion and other manufacturing inputs.
The Company has substantially completed its Notice of New Cannabis Product (NNCP) packages and expects to submit them to Health Canada for approval within 10 days. The final manufactured products can be released on the earlier of Health Canada approval or 60 days, and they may only be sold through a licenced seller approved by Health Canada. The Manufacturer expects to sell under another licenced producer’s sales licence. As previously disclosed, the Company’s sales agent, Great North Distributors, has begun initial conversations with certain provincial cannabis boards, and it believes there will be significant interest from at least two notable buyers. The Company is working diligently to make the products available throughout Canada.Tinley’s beverages won the coveted first and second prizes in the beverage category at this year’s Emerald Cup, the largest and arguably most prestigious cannabis competition in the world. These two beverages – Tinley’s™ ’27 Coconut Cask and Tinley’s™ Tonics High Horse – along with the Company’s other products are available throughout California. Canada represents the Company’s first expansion beyond the United States.“We are beyond delighted to be moving forward with production of our products in Canada. Our Canadian partners have demonstrable track records of excellence in manufacturing, sales and overall craftsmanship,” said Jeff Maser, Founder & CEO of the Company. “This combination of partners effectively positions us for a robust launch, and we look forward to giving consumers across Canada the opportunity to enjoy our award-winning beverages.”About The Tinley Beverage CompanyThe Tinley Beverage Company created the Beckett’s™ Tonics and Beckett’s™ ’27 line of liquor-inspired, terpene-infused, non-alcoholic beverages. Beckett’s™-branded products are available in mainstream food, beverage and specialty retailers, as well as on-premises locations, throughout California and are launching elsewhere in the USA. The cannabis-infused versions of these products are available under the Tinley’s™ Tonics and Tinley’s™ ’27 brands in licenced dispensaries and delivery services throughout California. The Company is working to launch the full product line in Canada. The Company has also built a 20,000 square foot cannabis beverage manufacturing facility in Long Beach, California.Forward-Looking StatementsThis 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.For further information on The Tinley Beverage Company and Level Up Infusions, including media inquiries, please contact:The Tinley Beverage Company Inc.
David Berman
77 King Street West, Suite 2905
Toronto, Ontario
Canada M5K 1H1
(310) 507-9146
[email protected]
Twitter: @drinktinleys
Instagram: @drinktinleys
www.drinktinley.com CSE:TNY OTCQX:TNYBF A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2131a801-84ee-421e-955b-ef45cbd6addf
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