The Tinley Beverage Company (CSE: TNY) this morning released a corporate update. Chief among the updates is a further expansion of the distribution of its products, along with additional co-packing arrangements being signed.
In terms of retail distribution, the company has now seen its products gain retail shelf space in Harborside (CSE: HBOR) dispensaries across the state, with the products to be launched over the next one to two weeks at all locations of the firm. Notably, Harborside is one of the oldest cannabis retailers globally.
The company has also seen its Becketts line of products expand distribution, with the announcement that the products are now in approximately 20 cantina, liquor and convenience stores in Tennesee via an expansion lead by Lipman Brothers. Further sales are being driven via marketing arrangements with Todd Chrisley. N
orth of the border, the company has seen continued growth in both Alberta and Ontario, where additional deliveries are slated to occur in June due to demand. On-premise accounts have also shown interest in the sober curious beverages, which would significantly expand distribution across Canada if finalized.
Back in California, co-packing operations continue to scale with three additional brands expected to be onboarded soon following the final commissioning of a canning line, including popular brand Fable for which the company will provide four separate flavours of beverages. Utilization of the facility is expected to improve dramatically in June followed continued demand growth, with the firm seeing strong revenue diversification as a result.
“It’s exciting to see our bottling equipment operating so frequently. After a lengthy buildout, we are delighted to be attracting such a high caliber of third-party brands, and their sell through is proving to be strong. Together with the placement of our infused products in large dispensary chains and our non-infused products in an increasing number of states and provinces, we’re beyond excited to at long last see the Tinley vision come to life.”
Rick Gillis, President of Tinley Western USA
The Tinley Beverage Co last traded at $0.38 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.
