THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS
SANTA MONICA, Calif. and TORONTO, Feb. 13, 2018 (GLOBE NEWSWIRE) -- The Tinley Beverage Company Inc. (the “Company" or "Tinley") is pleased to announce that it has entered into a lease agreement for a 20,000 square foot facility in Long Beach, California for cannabis beverage production. The Company is also pleased to announce that its temporary facility in Riverside County, California has successfully completed all remaining inspections required for cannabis operations, and it has accordingly received a Certificate of Occupancy.
20,000 Square Foot Manufacturing Facility on 45,000 Square Foot Parcel
The Company has entered into a lease agreement for a 20,000 square foot structure in Long Beach, California. The facility is situated on 45,000 square feet of land approximately 16 miles from downtown Los Angeles.
The Company intends to retrofit the existing structure to install batching and bottling equipment that is uniquely designed for the needs of cannabis drinks. This equipment will accommodate the solubilization technology and processes that Tinley uses for its cannabis and terpene-infused, liquor-style beverages. The bottling line will also be designed for a variety of bottle, label and closure styles to accommodate future products as well as enable co-packing services for third-party brands that wish to build cannabis-infused versions of their products. The equipment will enable both carbonated and non-carbonated beverages, as well as those that contain perishable ingredients and that require clean-label claims.
Due to the central location of the property, Tinley intends to use a portion of the building to build a permitted cannabis distributor. This distributor will be equipped to cater to the unique needs of beverage products including refrigeration and large-format packaging. The Company intends to operate the distributor in cooperation with existing local distributors and operators. The Company will also build a beverage R&D and internal testing center within the facility to enable continuous product innovation and quality assurance. The Company believes that this lineup of services will enable it to maintain control over all aspects of its supply chain, provide investors with exposure to a broader portfolio of beverage products and offer an end-to-end beverage development solution for third-party brands.
Temporary Facility Competes Inspections and Receives Certificate of Occupancy
The Company is pleased to announce that its temporary facility in Riverside County, California has successfully completed all remaining municipal permitting, and it has accordingly been awarded a Certificate of Occupancy for cannabis cultivation and manufacturing operations. As a result, Tinley has consummated its previously-negotiated binding manufacturing agreement with the facility operator.
The facility operator has submitted its Certificate of Occupancy and other materials to the California Department of Public Health's (“CDPH”) Manufactured Cannabis Safety Branch (“MCSB”) for issuance of a temporary manufacturing license. Upon receipt of this temporary license, the Company intends to go into immediate production, and believes the initial batches will take 2-3 weeks to complete at that time. Initial products include the Tinley Margarita and the Tinley ’27 Coconut Rum.
After production commences, the facility operator will submit its Annual License application through CDPH’s online licensing system, the Manufactured Cannabis Licensing System (“MCLS”). The facility operator and Tinley will remain in compliance with local regulations, and once the application is confirmed by MCLS, an Annual License will be issued.
Tinley intends to produce products at its temporary facility until its Long Beach facility is operational.
“We’ve secured a long-term home for a leading-edge, beverage manufacturing and innovation center in Southern California, the heart of the USA’s largest mainstream beverage market, as well as North America’s largest cannabis market,” said Jeff Maser, CEO of the Company. “The resources we are assembling in Long Beach will enable our team to offer a range of value-added beverage services using a time-tested business model that they’ve successfully deployed at major beverage companies and co-packers--now with a cannabis angle. At the same time, we’ve passed the final, major hurdle to begin production in compliance with the new MARCUSA requirements, creating a doubly-exciting new phase in the Company’s growth,” he added.
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