This morning Tinley Beverages (CSE: TNY) announced they added Baron Davis as a special advisor to the company. In case you’re reading this, and wondering, is it that Baron Davis? You betcha’ it is.
Baron was an early stage investor in Vitaminwater® and sees a similar opportunity with Tinley Beverages. He will lend expertise by advising on marketing and promotion, co-packing and co-branding opportunities, and product development strategies.
Having spent a large portion of his career in California with the Warriors and Clippers he can be instrumental in creating branding partnerships with sports icons and celebrities. Over his 13 year career he earned over $147M and has spent his ‘retirement’ as an entrepreneur and investor.
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I’m excited to have the opportunity to join the Tinley team. Tinley has a great opportunity to introduce new products and categories, bring forth innovative collaborations, and entrench themselves as a pioneer in this quickly evolving space. The opportunities to create celebrity and other consumer-branded products on the Tinley platform are endless with Tinley perfectly positioned as a co-packing leader moving forward.
Baron Davis, Advisory Board Member, Tinley Beverages
After regularly consuming Vitaminwater, Davis was convinced that it was a big opportunity for an early investor. He took the initiative to invite company officials to his house in Las Vegas and pitched himself as an investor. Three years later the company was sold for $4.1B cash, at a valuation of approximately 10x sales. Today Vitaminwater generates annual revenue around $1B.
In an article with Sports Business Daily, Davis recalls, “I was a 23-year-old making a presentation to them on being an investor… I wanted to participate on the back end and work with the company to create ideas. I had connections in the hip-hop community and in sports, and I wanted to explore being part of the brand.”
Tinley also announced the closing a non-brokered private placement for gross proceeds of $500,000 from the issue and sale of 1,250,000 units. Each common share will be purchased for 40c, which includes, one whole, three year warrant for 60c.
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.
