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Tinley’s intends to use the net proceeds from the private placement to fund its ongoing business initiatives and for general corporate and working capital purposes.
Lakewood Libations holds the cannabis licenses for the Long Beach bottling facility that Tinley’s left for Blaze Life Holdings’ Delta Bev facility in Canoga Park.
Originally projected for the end of the second quarter or beginning of the third quarter of this year, Tinley said the updated time frame is a result of delays relating to Blaze Life’s receipt of municipal licenses and approvals.
The Tinley Beverage Company Inc. has announced that Rick Gillis is stepping down from his role as president, Tinley’s Brands USA, as part of the company’s recent cost-cutting measures.
Tinley Beverage Company Inc. will produce Offfield’s High Performance Enhanced Hydration beverages as cannabis-infused products at Tinley’s bottling facility in Long Beach, California.