SANTA MONICA, CALIFORNIA and TORONTO, ONTARIO--(Marketwired - March 28, 2017) -
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") (CSE:TNY)(CSE:TNY.CN)(OTC PINK:QRSRF) is pleased to announce it has retained Critical Mass Group to grow Tinley's sales, and manufacturing functions.
Critical Mass is a partnership of proven beverage industry experts, each with a specific area of expertise that complements the others. They have a proven track record of helping growing beverage companies maximize their chance of success and achieve profitability in this highly competitive industry by optimizing supply chain management, marketing and sales/distribution. Current and past experience includes working with Arya Curcumin+, WTRMLN WTR, Invigorade Endurance Drink, Essentia, Goldthread Herbal Tonics, Bruce Lee Tea, Hydration, Tossware, Space Jam, Owl's Brew, Flavor Infusion, Niagara Bottling, Johnson & Johnson, Kraft, Heinz and Soylent.
Critical Mass will provide the scale and expertise needed to manage the Company's growing operations for its cannabis and hemp CBD beverages. Key developments include:
- The Company's previously-announced bottling run will be 100,000 units, comprised of its new lemon-lime flavor as well as its two existing flavors
- The Company expects to place a purchase order for its CBD coffee creamer and is proceeding with its previously-announced CBD energy shot
- The Company is working to release its Tinley '27 cannabis drinks by the April 20 ("420") weekend, and is endeavoring to complete batches for delivery to dispensaries prior to this launch
- The Company has secured multiple sources of THC to ensure redundancy and quality
- The 25-store trial with a major convenience store, announced on December 5, 2016, has successfully concluded, and an additional distributor has purchased half a pallet to supply the majority of these stores for continued sales
- In just its second quarter of product availability, the Company has listed its products in premier stores including Bristol Farms (all 10 stores), Erewhon (all 3 stores), Sprouts (Chula Vista and Eastlake), GNC's LuckyVitamin.com and several convenience stores and dispensaries totalling approximately 100 stores; LA Distributing Company and the Company's sales force has now expanded and is working to place in additional independent stores and national accounts
- Significant press continues to emerge detailing the increasing shift by consumers from alcohol to cannabis, which supports the Company's strategy of creating alcohol-free, cannabis-infused versions of popular alcoholic beverages
- The Company's year-end financials due April 28; the Company does not require financing at this time
Critical Mass is eligible to earn up to 400,000 performance shares if they achieve certain revenue milestones with all 400,000 performance shares being earned if Critical Mass generates $3 million in annualized sales of Hemplify. If Critical Mass does not hit its sales milestones, no performance shares will be issued.
The Company has also retained additional sales and marketing professionals and has issued them a total of 150,000 options. These options have a strike price of $0.33 and vest over a period of two years subject to continued affiliation with the Company.
"It's still early days, but with an increasing number of distributors and products, we require increasingly scaled and efficient operations to position for growth. We are pleased to be working with our expanded team and Critical Mass, whose partners bring significant chain store relationships, operational and brand-building expertise. We look forward to working with them to drive sales growth and operational efficiencies for our cannabis and hemp CBD operations," said Jeff Maser, CEO of Tinley.
"Cannabis and hemp CBD products have the capacity to attract an increasingly large base of mainstream consumers, therefore such companies will increasingly need to employ best practices from the CPG industry to drive profitability. Tinley offers a unique angle on both beverage categories," said Dan Morad, managing partner at Critical Mass.
Additional information on Critical Mass Group is available at www.criticalmassgroup.com.
About The Tinley Beverage Company, The Tinley Collective and Hemplify
The Tinley Beverage Company (Toronto, Canada) has developed a line of 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" 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. Hemplify is produced with patented technology designed to elevate absorption into the bloodstream, ensure shelf stability and mask the hemp oil's taste to deliver delicious, refreshing flavors. The company is selling its Hemplify products in retail locations 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 any time.