THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS.
LOS ANGELES and TORONTO, April 28, 2020 (GLOBE NEWSWIRE) — The Tinley Beverage Company Inc. (“Tinley” or the “Company”) announces that it intends to rely on the temporary blanket relief (“Relief”) for market participants from certain regulatory filings published by Canadian securities regulators on March 23, 2020 as a result of the COVID-19 pandemic. Accordingly the Company expects to file its audited annual financial statements, annual MD&A and related CEO and CFO certifications for the year ended December 31, 2019 (collectively, the “Annual Financial Disclosure Documents”) in accordance with the Ontario Securities Commission Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements and similar relief provided by the British Columbia Securities Commission and the Alberta Securities Commission.
While these instruments provide a 45 day extension, the Company expects to make these filings within two weeks. The officers, directors and other insiders of Tinley are subject to the Company’s Disclosure and Trading Policy and are not permitted to trade shares of Tinley until the Annual Financial Disclosure Documents have been filed and made publicly available.
The Company confirms that the sale of grocery and cannabis products have been deemed “essential services” within California under the State’s “stay at home” orders. All of the Company’s products therefore remain available for sale uninterrupted. Despite the Company’s greatest efforts, the Company is reliant on a broad number of external vendors for much of the information required for its financial filings, which necessitates the additional time required for the filings. However the Company’s product operations remain unaffected. The Company confirms that it has disclosed all material business developments since the date of its last audited annual financial statements, which can be found in the Company’s disclosure record at www.sedar.com.
About The Tinley Beverage Company
The Tinley Beverage Company (Santa Monica, California) created the Beckett’s™ Tonics and Beckett’s™ ’27 line of liquor-inspired, terpene-infused, non-alcoholic, cannabis-free beverages. It has also created Emerald Cup award-winning, cannabis-infused versions of these products under the Tinley™ Tonics and Tinley™ ’27 brands. The Tinley™ branded cannabis-infused beverages are available in licensed dispensaries and delivery services throughout California; the Beckett’s™-branded non-THC versions are increasingly available in mainstream food, beverage and specialty retailers, as well as on premises locations, throughout California and elsewhere in the USA. The Company has also built a 20,000 square foot cannabis beverage manufacturing, co-packing and distribution facility in Long Beach, California.
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, formulations and timelines outlined herein are subject to change at any time. All figures CAD unless otherwise indicated.
For further information on The Tinley Beverage Company, please contact:
The Tinley Beverage Company Inc.
3435 Ocean Park Blvd. #107
Santa Monica, CA 90405