TORONTO, ONTARIO--(Marketwired - Aug. 8, 2016) -
THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS.
The Tinley Beverage Company Inc. (OTC PINK:QRSRF)(CSE:TNY) ("Company" or "Tinley") is pleased to announce the appointment of Mr. Ted Zittell to its Board of Directors.
Mr. Zittell consults internationally via his firm, Ted Zittell & Associates Inc., to market leaders on retail formats and trends, branding systems, marketing communications and design. He also serves as a senior consultant for McMillan Doolittle LLP, a leading Chicago-based retail and consumer experience agency, as well as an advisor for private equity and investment funds in the food and beverage sectors. Mr. Zittell previously served as President of Cott Corporation's Retail Brands International, where he led the creation and launch of dozens of premium retailer brand and marketing programs worldwide. He also served as a senior partner at Cott's Watt Design Group for 17 years. Recent executive-level engagements include work for Walmart, Kroger, CVS Pharmacy, P&G, Nestlé, Loblaws, Sainsbury's and Tesco, as well as advisory work for two leading San Francisco-based private equity funds.
"Mr. Zittell's contacts and experience in the food and beverage industry will no doubt be instrumental in driving our business development initiatives and also ensuring that our marketing and in-store merchandising initiatives convey a world-class image for our products," said Jeff Maser, CEO of Tinley.
"Hemplify today is positioned at the confluence of two macro beverage trends: The rapid emergence of cannabinoid products as a growing consumer category, and the continued consumer shift away from sugary sodas to healthy, functional drinks. Tinley's products are among the first spectrum hemp extract products designed for mainstream retail channels. The CPG market is highly competitive; I look forward to helping Tinley employ best-practices to drive trial and sell through in stores, while attracting new strategic partners for increased distribution and sales," said Ted Zittell.
The Company's board has approved for the issuance of 350,000 stock options ("Options") to Mr. Zittell. Each Option is exercisable into Common Shares at a price of $ 0.08 per Common Share for a period of 5 years, expiring on August 8, 2021. The Options vest in increments over 18 months.
About The Tinley Beverage Company
The Tinley Beverage Company is the manufacturer of the "Hemplify" line of products. Hemplify is a line of fruit-flavored, sugar-free, vegan, drinkable supplements that contain hemp 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 vitamins A through E, including 100% DV of Vitamin B12, C and D. Hemplify is produced with patented technology that elevates absorption into the bloodstream, ensures shelf stability and masks the hemp oil's taste to deliver delicious, refreshing flavors. The company is selling its products in California and Nevada.
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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.