TORONTO, ONTARIO and LOS ANGELES, CALIFORNIA--(Marketwired - Nov. 4, 2016) -
THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS.
The Tinley Beverage Company Inc. (the "Company" or "Tinley") (OTC PINK:QRSRF)(CSE:TNY)(CSE:TNY.CN)(CNSX:TNY) announces that yesterday it granted stock options to certain directors of the Company. Andrew Stodart was granted options to acquire 500,000 common shares of Tinley at an exercise price of $0.33 for a period of five years. David Ellison was granted stock options to acquire 100,000 common shares of Tinley at an exercise price of $0.33 for a period of five years. The stock options granted to Mr. Stodart are subject to a vesting schedule whereby 50% of the stock options vest immediately, 25% of the stock options will vest six months following the grant and the remaining 25% of the stock options will vest after a further six months. The stock options granted to Ellison are subject to a vesting schedule whereby 25% of the stock option vest immediately and 25% of the stock options will vest every six months following the grant.
"We are pleased to have Andrew join our team. His expertise launching several successful alcoholic beverage brands, including wine, tequila and vodka products, coupled with his track record of selling into Canada's liquor boards, where cannabis products may ultimately be sold, will be helpful for the launch of our psychoactive, cannabis-infused beverages," said Jeff Maser, CEO of Tinley.
About The Tinley Beverage Company, Inc., Hemplify, Inc. and Tinley '27
The Tinley Beverage Company (Toronto, Canada) is the parent company of Hemplify, Inc. (Santa Monica, California). Hemplify, Inc. manufactures the "Hemplify" 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 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 in 5 other states, as well as online. Tinley has also developed "Tinley '27", a line of cannabis-infused beverages designed for the Canadian and US markets, and is pursuing partnership opportunities with licensed producers for production of these products in jurisdictions wherever such products are permitted.
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.