Tinley Beverage Currently Finalizing Formulations For 12 Co-Packing Clients

Tinley Beverage Co (CSE: TNY) is evidently blazing a path towards obtaining numerous co-packing clients at its Long Beach, California facility. The company announced this morning that it is working to finalize formulation and production solutions for twelve co-packing clients currently following the completion of its 20,000 square foot facility.

That news was included in a release this morning wherein the company identified it has increased its previously announced private placement from $1.0 million to $2.0 million following inbound institutional interest. The additional funds are said to be going towards augmenting the existing production batching and other equipment at the firms cannabis beverage co-packing facility.

In regards to the “other equipment” statement, the company elaborated that this is in reference to additional equipment that will enable additional product formats. While currently its production system allows for the use of bottles, further equipment is to be acquired that enable bottling in aluminum cans and minis.

Outside of expanding production formats, the funds are also said to be used for accelerating marketing efforts and overall expansion of Tinley and Beckett’s branded products within Canada and the US, along with general corporate purposes.

“The completion of our facility in Southern California enables us to devote our efforts to co-packing clients and other business development initiatives, designed to expand awareness of our co-packing services, our own infused and non-infused beverages, as well as of our company in general, both in California and throughout Canada.”

Ted Zittell, Director

The financing saw a total of 4.48 million units of the company sold at a price of $0.45 each, for gross proceeds of just over $2.0 million. Each unit contains one common share and one common share purchase warrant, with warrants having an exercise price of $0.60 and an expiry of 3 years from the date of issuance.

The Tinley Beverage Co last traded at $0.42 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.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Tinley Beverage: Nearing an Inflection Point

Following third quarter financials released late last week by Tinley Beverage Co (CSE: TNY), The...

Thursday, December 5, 2019, 09:01:32 AM

Smokeless Cannabis Category Sales Surge On Quarantine Measures

No one wants cannabis beverages. Or, at least that’s the line long time cannabis enthusiasts...

Saturday, April 4, 2020, 11:36:35 AM

Tinley Beverage Sees First Co-Packing Products Shipped From Facility, Signs Another Co-Packing Client

Tinley Beverage Co (CSE: TNY) has shipped the first co-packing products from its Long Beach,...

Monday, March 22, 2021, 08:23:28 AM

Tinley Beverage Enters White Label Agreement With Bevcanna For Canadian Market

It looks like Tinley Beverage Co (CSE: TNY) might finally see its products hit Canadian...

Thursday, August 19, 2021, 01:25:41 PM

Tinley Beverage Co Signs California Distribution Agreement

The Tinley Beverage Co (CSE: TNY) announced significant news this morning, indicating that the company...

Monday, April 6, 2020, 09:08:55 AM