The Tinley Beverage Co (CSE: TNY) announced significant news this morning, indicating that the company has signed a distribution agreement for its cannabis-infused beverages. Under an exclusive agreement, Shelf Life Distributing will distribute Tinley’s infused products across the State of California as sales continue to rise for smokeless cannabis options.
The agreement entered between the two parties has seen Shelf Life take possession of all the current inventory of infused beverages held by Tinley from its phase 2 bottling facility. The product is now to be distributed by Shelf Life to dispensaries and home delivery services across the state. The company brings a sales force of 10+ dedicated sales employees, many of whom perform transactions in excess of $1.0 million each month.
Shelf Life is a subsidiary of Gold Flora, LLC, one of the most vertically integrated operations in California. The agreement is anticipated to significantly increase Tinley’s sales, merchandising reach, and logistics capabilities. Upon licensing of the Tinley distribution center at its phase 3 facility, Shelf Life is also expected to perform certain functions that include warehousing and shipping from the facility.
Tinley is delighted to have attracted this caliber of distribution. The enhanced sales and delivery services come on the heels of our products taking the top two awards at this year’s Emerald Cup, and as legal cannabis products experience an historic surge in demand.Richard Gillis, President of Tinley, West Coast USA
In addition to the distribution agreement, Tinley also announced this morning that the phase 2 facility has been fully decommissioned. This has been completed in anticipation of the near term commissioning of its phase 3 Long Beach, California facility. The news follows the anticipated completion of final inspections for the facility occurring last week.
Tinley Beverage Co last traded at $0.32 on the CSE.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.