The Tinley Beverage Company (CSE: TNY) released an update in connection with it’s much anticipated Long Beach, California facility this morning, identifying that the much awaited electrical inspection has been completed for the flagship facility.
The inspection follows the completion of the install of much needed specialized electrical infrastructure for the facility, which now enables the company to get the final permits required for the licensing of the facility. Final building inspections at the facility are to occur later this week as a result.
As previously identified, the state of California has already indicated that the required conditions have been met to grant a manufacturing license for the facility, pending satisfactory municipal approvals from the City of Long Beach.
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Concurrently, Tinley has also nearly completed the decommissioning of the Phase 2 bottling facility in anticipation of the launch of operations at the Long Beach facility. The company believes it has ample inventory that will be sufficient until the commissioning of Long Beach occurs. Meanwhile, the Phase 2 equipment is anticipated to be shipped to Tinley’s next target state to establish operations.
Additionally, the company has continued operations in light of the ongoing COVID-19 pandemic, with cannabis being labeled an essential service in the State of California. Vendors have been stocked with product, including for home delivery, amid a surge in demand for cannabis products across the state. Given the stay at home order, its anticipated that the move will have a positive effect on smokeless variants, including edibles and drinks.
Similarly, the firms non-cannabis infused product line, Beckett’s, has remained in production due to being a grocery item. The product is currently on store shelves at over 150 BevMo! locations, and are currently slated for trials at a national warehouse-style chain, as well as a national grocery chain. Tinley intends to complete these trials as soon as possible. The Beckett’s line of product continues to be presented to buyers at retail chains across the country, with new listings to be announced as secured.
Tinley Beverage last traded at $0.22 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.
