LOS ANGELES and TORONTO, March 02, 2020 (GLOBE NEWSWIRE) — The Tinley Beverage Company Inc. is pleased to announce that its Beckett’s™ line of products have shipped to BevMo!, one of the West Coast’s two largest liquor store retailers. The Company is also pleased to announce that transformer installation in its Long Beach facility is now complete, which enables the Company to progress through the final stages of its licensing process.
BevMo! is one of the two major liquor store retailers on the West Coast USA, operating nearly 200 stores throughout California, Arizona and Washington. Tinley’s Beckett’s™ products will be carried throughout California and Arizona, with Washington to follow. BevMo! has begun the process of shipping products from its California distribution facility to each store, and the Company expects this process to be completed within the coming weeks.
The Company is also proceeding with scheduling and onboarding work related to other chain store launches. These include the previously-announced trials with one of the USA’s largest grocery store chains, which operates over 2,000 large format stores across the USA. It also includes monthly product features in high visibility locations at one of the USA’s largest national club/warehouse-style retailers.
“The Beckett’s™ product line positions Tinley at the forefront of two major, complementary consumer trends – the ‘sober curious’ movement and the growth of cannabis-infused beverages,” said Rick Gillis, President of Tinley California. “Both rapidly-accelerating trends position us to provide new options for consumers who are seeking healthier alternatives to alcohol in social and at-home occasions.”
Tinley created the Beckett’s™ line of products in response to widespread requests from consumers and retailers for non-alcoholic, cannabis-free versions of the Tinley products. The “sober curious” movement has become a major wellness-focused consumer trend throughout the country. In additional to wellness intenders, these types of products are being rapidly adopted by consumers for specific alcohol-related reasons such as medication-related interactions, pregnancy and religious restrictions. Several sources expect revenue from this product category – also known as the “low to no alcohol” category – to continue to grow at over 30% annually in the coming years. Heineken, MolsonCoors, AB InBev, Diageo, Peroni, Libera and Guinness have created these types of products. Bars and restaurants in Los Angeles are also broadly looking to boost their non-alcoholic beverage options. Tinley’s Beckett’s™ line is the first comprehensive non-alcoholic lineup of both cocktail and spirit-style products to hit shelves.
Tinley’s lineup of non-alcoholic cocktails and liquor formulations was developed in conjunction with national brand liquor formulators. The formulations use premium, distilled botanicals, flavors and other ingredients that are commonly found in national brand spirits. As a result, they provide authentic versions of popular spirits for those seeking a non-alcoholic experience – with or without cannabis. Beckett’s™ cannabis-free versions are eligible for sale throughout the country in restaurants, bars and mainstream retail. The cannabis-infused versions, marketed under the Tinley brand, are available in legal dispensaries throughout California. The Company is leveraging its team’s past president and C-level experience in the world’s major beverage companies to add additional placements in mainstream retail chains across the USA. The Company is also working to import the Beckett’s™ line to Canada simultaneous to its Canadian launch of the cannabis-versions.
Long Beach Licensing Update
The Company is pleased to announce that the local utilities have completed installation of the transformer and meter at the Company’s Long Beach bottling location. This represents the final major tenant improvement required for this facility. This progress is consistent with the timing outlined in the Company’s corporate update of November 27, 2019. Accordingly, the Company is now working through items that are typically part of the final phases of local inspection and licensing. The Company has also begun the process of decommissioning its temporary facility in the Coachella Valley in anticipation of transferring production to Long Beach.
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.
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