Tinley Beverage Company Inc (OTCMKTS:TNYBF) obtained a manufacturing license from California’s state for its Long Beach-based 200,000 Sq. Ft. bottling facility. It will take cannabis-infused emulsions delivery soon and expects to commence bottling operations.
Manufactures all types of cannabis-infused products
The N-type production license allows the company to manufacture all varieties of cannabis-infused products comprising beverages, topical, and edibles. In the initial run, the company will include innovative 27 Arabica Cask in its 27 products.
The award-winning Coconut Cask will be part of Tinley’s multi-serve products. Arabica Cask is a perfect fit into Tinley’s mixed drinks, on ice, and deserts. The company can sign agreements with co-packaging clients that perfectly fits into its pipeline.
Inbound requests for investments
Tinley is also receiving requests for investments in its facilities. The company received an initial tranche of funds worth $1.85 million through a private placement of 3.7 million units. It sold each unit, which comprises one share and one warrant, at $0.5. The warrants can be converted into common shares of Tinley within 24 months after closing the deal. Tinley paid a commission of $130,151.90 and broker unit options of 260,304 to Echelon Wealth Partners Inc in connection with this offering.
Prospects for Q1 2020
Following the completion of the development of the phase 3 bottling facility in Long Beach, CA, Tinley’s assets comprising property equipment surged to more than $7 million. The company expects to post revenues of over $170,000 in Q1 2020. It is more than double that of revenues posted in 2019 and on the backdrop of posting growth in all the product lines. Tinley added vehicles to support its marketing efforts. It will also use the vehicles to distribute products manufactured at its bottling facility of Long Beach in California.
The demand for cannabis beverages is growing at a fast pace in the industry. Tinley is expecting continued growth with the launch of non-infused Beckett’s products.
Developments in 2019
Tinley entered a pact with Great North Distributors to expand its operations in Canada. It is also negotiating with another party to manufacture its products in Canada and distribute nationwide. By building a robust delivery network, the company doubled its infused product availability at several dispensaries to serve 90% of the population.
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