Tinley to Launch Non-Alcoholic, THC-Free Beverages in 150 BevMo! Stores
22 10월 2019 - 8:23PM
The Tinley Beverage Company Inc. (the “Company" or "Tinley") is
delighted to announce that BevMo!, one of the most prominent liquor
retailers in California, will now carry cannabis-free versions of
the Company’s beverages in California, Arizona and
Washington. These products are expected to be shipped prior
to the December holiday season.
Tinley has spent the past three years working
with national brand liquor formulators on perfecting
cannabis-infused, non-alcoholic versions of popular cocktails and
liquors, each using extracts, flavors and spices found in their
alcoholic counterparts. These products have received highly
favorable response in dispensaries throughout California. As
a result, Tinley has received substantial interest from mainstream
retailers that are seeking to aggressively boost their
non-alcoholic, adult-style beverage offerings. Tinley has
therefore created non-alcoholic, cannabis-free versions of its
products for use in these retail channels. These products
will enable consumers to enjoy popular liquors and cocktails while
remaining completely sober.
“Restaurants and bars across the country -
particularly in Los Angeles - are aggressively expanding their
non-alcoholic, adult beverage options. BevMo is playing a
leading role in capturing this demand for the at-home market,” said
Rick Gillis, President of Tinley, Western USA.
This new expansion to mainstream retail gives
Tinley an opportunity to apply its formulations and designs across
the $550 billion nation-wide, mainstream beverage market, enabling
significant additional opportunity beyond the Company’s
rapidly-growing cannabis revenue.
To clearly differentiate between consumer need states and retail
channels for cannabis vs. cannabis-free beverages, the
cannabis-free versions will be launched under a different, but
graphically related brand identity. This branding strategy
also enables the Tinley products to be compliant in jurisdictions
that may prohibit marketing of cannabis products under the same
brand as non-cannabis versions.
Increase in Quarterly Shipments Since Launch in
Q2
The Company is also pleased to announce that
sell-through of the cannabis-infused versions of these products has
been steadily increasing, and that these products are now available
in over 50 cannabis dispensaries in virtually every market in
California. Based on anticipated demand, the Company plans to
produce in excess of $1 million of products in Q4, valued based on
their wholesale selling price, inclusive of cannabis and
cannabis-free products. This represents significant growth
since the Company’s initial products first landed on dispensary
shelves 22 weeks ago. These expected Q4 shipments are in
addition to products already produced or shipped in Q2 and
Q3. The Company continues to classify these products as
shipments, given it does not recognize revenue until it is paid by
distributors or retailers. However, the Company expects
meaningfully shorter pay cycles in mainstream channels than in
dispensaries.
The Company is leveraging its team’s beverage
industry relationships to add additional mainstream retail chains
in all 50 states for these new cannabis-free products. The
Company’s growing sales force is also continuing to add dispensary
listings throughout California for the cannabis-infused
versions.
Launch of Additional Cannabis-Infused
Products
The Company intends to launch a Tinley™ Tonics
Gin & Tonic-inspired “Juniper Sky™”, a Paloma-inspired “Flying
Dove™” and a coffee liqueur-inspired Tinley™ ‘27 “Coffee Cask”
beverage in cannabis-infused format towards the end of the
year. Cannabis-infused versions of all other Beckett’s
products are already available under the Tinley™ brand in cannabis
dispensaries throughout California.
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 beverages.
It has also created cannabis-infused versions of these products
under the Tinley™ Tonics and Tinley™ ’27 brands. The Tinley™
branded cannabis-infused beverages are available in dispensaries
and delivery services throughout California; the Beckett’s™-branded
non-THC versions will be available in mainstream 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. #107Santa Monica, CA 90405(310)
507-9146info@drinktinley.comTwitter: @drinktinleyInstagram:
@tinleybeverage www.drinktinley.comCSE:TNY OTCQX:TNYBF
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/42da7e7c-92b9-48c2-a716-5da16e190d4f
https://www.globenewswire.com/NewsRoom/AttachmentNg/d50e9a6d-aeb1-4661-9824-27f67ec365c4
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