SANTA MONICA, Calif. and TORONTO, Aug. 29, 2018 (GLOBE NEWSWIRE) -- The Tinley Beverage Company Inc. (the “Company" or "Tinley") is pleased to announce its intention to commence an initial production batch of 2,000 bottles of TinleyTM Cocktails Flying Mule, a cannabis-infused Moscow Mule cocktail for the California market. Tinley expects the production of this initial batch will commence on or about the third week of September.
In response to demand for the Company’s cannabis-infused margarita and dispensaries’ requests for additional single-serve, ready-to-drink cocktails, the Company has prioritized the development and production of this new product under the Tinley Cocktails product line. The ginger beer and vodka-based Moscow Mule is one of the most popular cocktails in California, and a cannabis-infused version has been specifically requested by many consumers and dispensary buyers.
The TinleyTM “Flying Mule” is alcohol-free and made with authentic ginger extracts and other flavors and spices that are found in alcohol-based Moscow Mule cocktails. Each bottle of Flying Mule will contain 10mg of THC, which the Company believes provides a similar intensity of effect a single serving of alcohol-based Moscow Mule cocktails, though with a Pineapple Jack Sativa to deliver a social, euphoric cannabis experience. The “Flying Mule” is a natural extension to the Company’s alcohol-free, cannabis-infused margarita, which is made with extracts, flavors and spices found in margarita cocktails, along with 10mg of THC and Pineapple Jack Sativa effect.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/66825022-9c78-4f78-893f-7c6b3a204a85
Tinley’s “Flying Mule” cannabis-infused cocktail, made with extracts, flavors and spices that are found in alcohol-based Moscow Mule cocktails, dosed with 10mg of THC per bottle providing a Pineapple Jack Sativa effect.
Tinley has sold more of its cannabis margarita in the weeks subsequent to Q2 than the combined sales of Hemplify in fiscal 2017. Accordingly, the Company is shifting the majority of its resources to its cannabis-infused beverages, while allocating a limited amount for the maintenance of the Hemplify CBD products. It will recognize portions of this revenue, along with any additional sales that are generated in the quarter, according to its revenue recognition policy under IFRS.
The Company believes it has sufficient cash resources to build its Long Beach facility and build sales of the Tinley products that are currently being produced by its temporary manufacturer. Sales of its cannabis products may be affected by the limited capacity of this temporary manufacturer, and the Company is implementing plans to increase temporary production capacity to accommodate growing demand.
The Company’s recently-expanded sales and operational team, which include former executives from Asahi Beer and Sierra Nevada Brewing, are working with three cannabis distributors on expanding dispensary placement. Samples from a recent “Flying Mule” pilot run, along with the margarita product in commercial circulation, are expected to be offered at dispensary buyer events starting August 30. Additional dispensary operator and buyer events are planned for September, and focused consumer marketing programs are being scaled for implementation now and through the months ahead.
About The Tinley Beverage Company
The Tinley Beverage Company (Toronto, Canada) manufactures the "Hemplify®" and “TinleyTM Tonics” line of hemp extract CBD products, which are available in retail locations in California and online throughout the United States. The Company also manufactures the Tinley Cocktails and Tinley ’27 line of liquor-inspired, alcohol-free, cannabis-infused beverages for use in California, and is constructing a 20,000 square foot cannabis beverage manufacturing and distribution facility in Long Beach, California.
Forward-Looking Statements
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains or refers to forward-looking information and is based on current expectations that involve a number of business risks and uncertainties. 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, delays in the development of projects and the other risks involved in the mineral exploration and development industry. 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 and formulations outlined herein are subject to change at anytime.
For further information on The Tinley Beverage Company, please contact:
The Tinley Beverage Company Inc.
David Berman, Chief Financial Officer
77 King Street West, Suite 2905
Toronto, Ontario
Canada M5K 1H1
(310) 507-9146
Twitter: @drinkhemplify
Instagram: @hemplify
www.drinktinley.com
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