Lakewood issued Distribution License at Tinley’s Long Beach Facility; Tinley’s Brand Product Clears State Testing Onsite; Client Batches Set to Follow This Month
TORONTO and LOS ANGELES, Jan. 18, 2022 (GLOBE NEWSWIRE) — The Tinley Beverage Company Inc. (CSE:TNY; OTC:TNYBF) (“Tinley’s” or the “Company”) is pleased to announce that, for the first time, a batch of product manufactured at Tinley’s Long Beach Facility has successfully completed the State of California’s testing, quarantine and lab sampling processes onsite under the distribution licence (the “Distribution Licence”) granted to Lakewood Libations, Inc. (“Lakewood”). While the Distribution Licence was issued to Lakewood in August 2021, it could not be utilized until Lakewood received its distribution business licence (the “Business Licence”) from the City of Long Beach (“City”), which was issued earlier this month. As previously announced, the Company has entered into a purchase agreement to acquire all of the equity interests in Lakewood, the closing of which is subject to certain standard conditions precedent including applicable regulatory approvals.
Receipt of the Distribution Licence and Business Licence is expected to expedite the testing and delivery of manufactured products, as brands will now be able to benefit from a new onsite ‘first-mile’ distribution option adjacent to Lakewood’s licensed manufacturing space at Tinley’s Long Beach Facility. The Business Licence was issued following months of extensive permitting work and inspections and marked the final step allowing Tinley’s Long Beach Facility to activate the state Distribution Licence. This ‘first-mile’ distribution capability is expected to increase efficiency and speed to market by allowing the transfer of manufactured product from Tinley’s Long Beach Facility’s manufacturing area to the immediately adjacent licensed distribution space operating under the Distribution Licence. The first batch of product transferred, tested and cleared for market under the newly activated Distribution Licence was the Company’s own Tinley’s™ ’27 Coconut Cask Elixir.
“The activation of the Distribution Licence marks an important step in completing our end-to-end service offering for the growing roster of great brands manufactured at Tinley’s Long Beach Facility,” said Richard Gillis, President and COO, Tinley USA, and member, office of the CEO. “Our team is thrilled that we can finally offer convenient and vehicle-free transfer of finished product from the manufacturing floor ‘through the wall’ to the approximately 5,000 square-foot ‘first mile’ licensed distribution area under the same roof,” he added. “This new transfer option is expected to reduce product handling and eliminate transportation and logistical steps, thereby shaving off days between the completion of the manufacturing of client products and release to market.”
VCC Brands’ New CQ Shots in Indica and CBD-Relief: First Client Batches to Move to Lakewood Distribution
One of Lakewood’s first contract manufacturing clients, Cannabis Quencher (“CQ”) infused beverages, will be the first client brand to pass “through the wall” from Lakewood’s manufacturing licensed area to the adjacent distribution licensed premises for quarantine, lab sampling and state testing. The first batches of freshly re-designed 100 mg THC CQ shots are expected to be produced on the mini bottle line later this month. “The ability to state test ‘in-house’ is a game changer for brands like ours,” said Kenny Morrison, VCC Brands Founder and CEO. “This is a huge draw for Tinley’s Long Beach facility in attracting brands for a full range of co-manufacturing services. The reduced batch handling, shorter timelines, and easier compliance processing means faster movement to our retailers and consumers.” For more information about CQ visit www.VCCBrands.com.
About The Tinley Beverage Company and Beckett’s Tonics
The Tinley Beverage Company Inc. (CSE:TNY; OTC:TNYBF) develops and has licensed the production through its Long Beach, CA state-licensed manufacturing facility terpene and cannabis-infused non-alcoholic Tinley’s™ ’27 and Tinley’s™ Classics products which are distributed to licensed dispensaries and home delivery channels in California. Expansion of these products, adapted for manufacturing and sale in Canada, is currently underway. The Beckett’s Classics™ and Beckett’s ‘27™ lines of non-alcoholic, terpene-infused non-cannabis versions of these formulations are available in select mainstream food, beverage, and specialty retailers, as well as online, in the United States as well as in select grocery and specialty stores in Canada. Tinley’s facility in Long Beach California contains some of the state’s most versatile and technologically advanced cannabis-licensed beverage manufacturing equipment and provides manufacturing services for third-party brands in addition to producing Company-owned brands. Please visit www.drinktinley.com, and www.drinkbecketts.com Twitter and Instagram (@drinktinleys and @drinkbecketts) for recipes, product information and home delivery options.
This news release contains forward-looking statements and information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. Forward-looking statements are statements and information that are not historical facts but instead include financial projections and estimates, statements regarding plans, goals, objectives, intentions and statements regarding the Company’s expectations with respect to the future business, operations, the closing of the acquisition of Lakewood, timing of manufacturing capability enhancements and of production runs, anticipated benefits of the Distribution Licence and the Business Licence, revenue growth, management’s expectations regarding growth, phrases containing words such as “ongoing”, “estimates”, “expects”, or the negative thereof or any other variations thereon or comparable terminology referring to future events or results, or that events or conditions “will”, “may”, “could”, or “should” occur or be achieved, or comparable terminology referring to future events or results. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental, or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices and delays in the development of projects. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law. Products, formulations, and timelines outlined herein are subject to change at any time.
For further information, please contact:
The Tinley Beverage Company Inc.
Twitter: @drinktinleys and @drinkbecketts
Instagram: @drinktinleys and @drinkbecketts
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d79668f2-77ee-434c-b94c-083e79dca475