TORONTO and LOS ANGELES, September 24, 2021 (GLOBE NEWSWIRE) – The Tinley Beverage Company Inc. (CSE: TNY, OTC: TNYBF) (“Tinley’s” or “the Company”) is pleased to announce that it has appointed Manish Z. Kshatriya as Chief Financial Officer. Mr. Kshatriya succeeds David Hackett, who has stepped down from his post to pursue other opportunities. The Company thanks Mr. Hackett for his services and wishes him every success. Tinley’s is also happy to provide corporate updates and invites investors to visit its bottling facility in Long Beach, California.
Mr. Kshatriya is currently the Managing Director of a Toronto-based business advisory firm that provides executive management, governance and compliance services, as well as financial market advisory services to private and listed small and medium-sized businesses. in stock exchange. He has over 20 years of progressive experience in corporate finance, accounting, taxation and auditing, gained in the practice and industry of public accounting.
Mr. Kshatriya’s extensive capital markets experience includes: forming and developing mineral resource exploration companies from inception to initial public offerings; the formation and provision of flow-through limited partnerships; raising capital; Mergers and Acquisitions; serve on the boards of directors of public companies; and proxy contests.
Most recently, and prior to his role as Managing Director, Mr. Kshatriya was Director, President, CEO and CFO of a US-based mineral resources company listed in the US and Canada. Prior to this role, Mr. Kshatriya worked for a publicly traded Canadian mining investment bank, based in Toronto, where he served as Chief Financial Officer. As Chief Financial Officer, Mr. Kshatriya was responsible for managing and overseeing all financial matters for the parent company, its subsidiaries, flow-through limited partnerships and mutual fund investment products. Mr. Kshatriya has also served as Chief Financial Officer or Senior Financial Officer for various other private and listed companies in the mineral resources sector.
Mr. Kshatriya received his Bachelor of Commerce degree, majoring in Accounting and Finance, from York University in Toronto, California. He is a graduate of the Institute of Corporate Directors Director Education Program at the Rotman School of Management at the University of Toronto and is a Certified Institute Director (ICD.D). He is a Chartered Professional Accountant (Chartered Accountant) and a member of the Institute of Chartered Professional Accountants of Ontario. He is also a Certified Public Accountant in the United States and a graduate of the Colorado State Board of Accountancy.
“We are delighted to move forward with a CFO of Manish’s caliber,” said Ted Zittell, director and member of the CEO’s office. “Manish brings an excellent background in Operational Finance, which we need more and more as our clients’ business grows, and operations, contract and inventory management functions require strong financial and administrative support. . Manish has worked closely with company management over the past 60 days and is therefore operational. He has started planning and implementing process and information system improvements to improve our accounting, administrative and reporting systems which we believe will increase the efficiency of our Long Beach facility, ”he said. -he adds.
Other corporate updates
The Company is happy to provide additional updates on the business:
The company’s “Beckett’s” products are slated to appear onscreen in NBCU USA Networks’ episode “Chrisley Knows Best” on October 21, 2021. The company has a three-year deal with the top-ranked reality TV star prime-time, Todd Chrisley. Under the agreement, Mr. Chrisley will use commercially reasonable efforts to incorporate Beckett’s products in a minimum of four episodes every six months during the term of the agreement.
The Company continues to conduct testing and plan production of previously disclosed updated formulations for the Canadian versions of the Company’s cannabis-infused products. The 60-day NNCP period is currently in progress. The Company does not anticipate any change in focus on infused beverage launch initiatives in Canada following recent leadership changes.
The company chose to add additional features to the can line at its Long Beach facility, including an in-line can sleeve moulder and automated depalletizer. These improvements will increase the menu of manufacturing options available to client brands and are expected to increase the overall capacity of the plant. As a result, the line is now expected to be completed in October. The Company continues to have a large backlog of customers in the manufacturing pipeline for this line.
As previously reported, the new state-licensed cannabis beverage distribution space adjacent to the company’s manufacturing facility in Long Beach, Calif., Is undergoing confirmatory building inspections by the City of Long Beach. All the improvements to the installations requested in the previous round of inspections have been carried out. While the Company believes these additional inspections are expected next week, there is no guarantee on the timeline.
About The Tinley Beverage Company and Beckett’s Tonics
The Tinley Beverage Company Inc. (CSE: TNY; OTC: TNYBF) manufactures the Beckett’s Classics ™ and Beckett’s 27 ™ lines of non-alcoholic and terpene-infused spirits and cocktails. Beckett products are available at traditional food, beverage and specialty retailers, as well as online, across the United States, as well as grocery and specialty stores in Canada. Cannabis-infused versions of these products are available under the Tinley’s ™ brand at licensed dispensaries and home delivery services throughout California, with expansion in Canada underway. Tinley’s Long Beach, Calif. Facility contains some of the state’s most versatile and technologically advanced licensed cannabis beverage manufacturing equipment and provides manufacturing services for third-party brands in addition to company-owned brands. . Please visit www.drinkbecketts.com, www.drinktinley.com, Twitter and Instagram (@drinktinleys and @drinkbecketts) for recipes, product information and home delivery options.
This press 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 rather include financial projections and estimates, statements regarding plans, goals, objectives, intentions and expectations with respect to future activities. , operations, expansion to other jurisdictions, and sentences containing words such as “pending”, “estimates”, “expect”, or the negative of it or any other variation of it. ci 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 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 failure to obtain government, environmental or other approvals for the project, risks policies, uncertainties about the availability and costs of funding needed in the future, changes in stock markets, any changes related to expansion plans discussed here, inflation, changes in exchange rates, fluctuations in commodity prices , delays in project development and other risks involved in the mining exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, as well as 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 or revise them to reflect new events or circumstances other than those required by law. The products, formulations and times described herein are subject to change at any time.
Long Beach site visit for investors
The company is pleased to invite investors to visit its bottling facility in Long Beach, Calif., On Tuesday, September 28, 2021, from 9:30 a.m. to 11:00 a.m. PT. Investors will have the opportunity to meet the team on site; see the state of our operations; and experience the functionality of our three bottling lines, the pasteurization tunnel and the adjacent licensed distribution area. Investors in attendance can sample uninfused versions of our products outside of authorized areas of the establishment. The tour will be led by Richard Gillis, President and COO of Tinley USA. Investors wishing to participate are required to register in advance by email [email protected].
For more information, please contact:
The Tinley Beverage Company Inc.
Twitter: @drinktinleys and @drinkbecketts
Instagram: @drinktinleys and @drinkbecketts
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