Tinley Beverage Co (CSE: TNY) released a whirlwind of a corporate update this evening, providing the market with an updated status on a number of pressing issues which include the firms foray into Canada, commissioning of the Long Beach facility, and the expansion of the Beckett’s brand throughout North America.
First and foremost – Tinley’s is finally coming to Canada. The company announced this evening that it has entered into an agreement with a Canadian manufacturer whom has extensive beverage co-packing experience. While subject to a variety of conditions including final licensing, production of Tinley branded cannabis beverages are expected to commence by October 30, 2020. Further, Tinley is currently working through the Health Canada notification process to ensure that the full taste and effects of its infused beverages in Canada match that of its US product offerings.
Stateside, the inaugural batches of Tinley ’27 beverages have been produced at the firms new flagship facility in Long Beach. The batches of product include the firms four cask-style cannabis infused beverages, which have since been shipped to Shelf Life for distribution to dispensaries. This includes the firms new Arabica cask, a coffee bean flavoured created to emulate similar alcohol-based beverages.
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Full commissioning of the facilities production lines is expected to occur next month, following which Tinley’s ready to drink products will begin production.
Finally, the Beckett’s line of non-infused beverages is moving forward with product trials in twelve grocery stores in Southern California. The stores, owned by one of the largest grocery chains in the US, have now commenced product trials. Additionally, Beckett’s is currently completing the onboarding process for several major online retailers, including Amazon, Walmart, and a shopify-driven logistics platform. Broad availability of the Beckett’s line of products is anticipated to be available throughout the USA in September as a result, with the potential for shipment to Canada as well.
Lastly, initial production of Beckett’s products in both still and carbonated formats is expected to begin in Ontario via a co-packing arrangement this fall. The company will begin working towards securing listings in grocery and other beverage retail stores as a result across the country.
Tinley Beverage Co last traded at $0.44 on the CSE.
FULL DISCLOSURE: Tinley Beverage is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Tinley Beverage on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
