TORONTO and LOS ANGELES, Dec. 24, 2021 (GLOBE NEWSWIRE) — In a release issued under the same headline yesterday at 9:50 pm EST by The Tinley Beverage Company Inc. (CSE:TNY; OTC:TNYBF), please note that in the first paragraph of the release, the date [December 16, 2022] should have read [December 16, 2021]. The corrected release follows.
The Tinley Beverage Company Inc. (CSE:TNY; OTC:TNYBF) (“Tinley’s” or the “Company”) is pleased to announce that the Company and its two Canadian licensed co-packers have now completed their submissions of the additional technical, marketing and training documentation requested by the Ontario Cannabis Store (“OCS”) following the issuance by the OCS on December 16, 2021 of a formal notice to purchase (“the Notice”). The Notice included the Canadian versions of the Company’s Cannabis Cup award-winning Tinley’s ’27 TM Coconut Cask, branded in Canada as Tinleys ’27 TM Smooth Coconut, and its Tinley’s TonicsTM La Paloma ready-to-drink sparkling ‘mocktail’, to be produced in Canada as Tinleys ClassicsTM Mystic DoveTM.
Following responses to any requests for clarification that may arise from OCS review of the documentation submitted this week, purchase orders for the two products, to be included in the OCS spring release, are expected to be received in February 2022. Spring release products are anticipated to be shipped to the OCS warehouse in March, with launch of online purchase on the OCS website expected in early April, and retail launch in licensed cannabis retail outlets on or about April 12, 2022. The Company will work with its sales agents to support the brand and work to increase distribution throughout Winter and Spring 2022.
Next 2022 OCS Product Call
The Company, its co-packers and sales agents are preparing the required submissions to the OCS by January 21, 2022, for the balance of Tinley’s Canadian Product line up; such submission is the first step in the new product call process for July 2022 release.
Potential Additional Provincial Listings
The Company also confirms that all necessary presentations and documentation for its seven Canadian SKU’s have been submitted to the appropriate cannabis buyers at both the British Columbia Liquor Distribution Branch (“BCLDB”), and the Alberta Gaming and Liquor Commission (“AGLC”). These submissions are now under consideration by the respective buyers; further discussions regarding listing some or all of these SKUs in each province are expected in Q1 2022. The Company is considering plans and schedules for presentations for listings in additional provinces in collaboration with its sales agents and co-pack partners.
“Like many of our approximately 5,000 thirsty Canadian shareholders, I am looking forward to buying Tinley’s infused Canadian beverages at one of the many licensed retail outlets close to home”, said Ted Zittell, director and member, Office of the CEO. “Our Canadian and Long Beach operations teams, together with our co-packers and sales agents, have worked together to bring our brand into the structured buying cycle of the provincial boards. We are hopeful and excited that Canadians will find Tinley’s products online at the OCS and on-shelf in retail outlets this spring, as we plan expanded distribution into additional provinces”, he added.
About The Tinley Beverage Company and Beckett’s Tonics
The Tinley Beverage Company Inc. (CSE:TNY; OTC:TNYBF) develops and has licensed the production through its Long Beach, CA state-licensed manufacturing facility terpene and cannabis-infused non-alcoholic Tinley’s™ ’27 and Tinley’s™ Classics products which are distributed to licensed dispensaries and home delivery channels in California. Expansion of these products, adapted for manufacturing and sale in Canada, is currently underway. The Beckett’s Classics™ and Beckett’s ‘27™ lines of non-alcoholic, terpene-infused non-cannabis versions of these formulations are available in select mainstream food, beverage, and specialty retailers, as well as online, in the United States as well as in select grocery and specialty stores in Canada. Tinley’s facility in Long Beach California contains some of the state’s most versatile and technologically advanced cannabis-licensed beverage manufacturing equipment and provides manufacturing services for third-party brands in addition to producing Company-owned brands. Please visit www.drinktinley.com, and www.drinkbecketts.com Twitter and Instagram (@drinktinleys and @drinkbecketts) for recipes, product information and home delivery options.
This news release contains forward-looking statements and information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. Forward-looking statements are statements and information that are not historical facts but instead include financial projections and estimates, statements regarding plans, goals, objectives, intentions and statements regarding the Company’s expectations with respect to the future business, operations, expansion to additional jurisdictions, successful completion of the product listing process with the OSC, expected timing for the receipt of purchase orders and product listing with the OCS, expected timing of the launch of online purchases and retail presence, expected increased distribution in Canada, approval of the BCLDB and AGLC including the timing for same, management’s expectations regarding growth, phrases containing words such as “ongoing”, “estimates”, “expects”, or the negative thereof or any other variations thereon or comparable terminology referring to future events or results, or that events or conditions “will”, “may”, “could”, or “should” occur or be achieved, or comparable terminology referring to future events or results. 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 and delays in the development of projects. 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, please contact:
The Tinley Beverage Company Inc.
(310) 507-9146 [email protected]
Twitter: @drinktinleys and @drinkbecketts
Instagram: @drinktinleys and @drinkbecketts
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/50b6f3a4-ec18-46ba-a4c4-d8da85c950d1