Tinley is continuing to pursue additional mass retail placement for its Beckett’s™ line of products…
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LOS ANGELES, Dec. 02, 2019 (GLOBE NEWSWIRE) — The Tinley Beverage Company Inc. is pleased to announce that its non- infused Beckett’s™ product line will be launching in two additional mass retailers, in addition to the previously-announced 150 store deal with BevMo. The Company’s cannabis-infused TinleyTM products, having completed their first full quarter in market following the commissioning of its Phase 2 bottling facility, are now being made available for home delivery throughout California, and are experiencing strong reorder rates in dispensaries. The products are also scheduled to launch this week at the acclaimed Lowell Café, the country’s first full-service cannabis café and restaurant.
Two Additional Mass Retail Chains
On the heels of its 150-store deal with BevMo, Tinley has begun the onboarding process for its Beckett’s™ products for local store trials at one of the USA’s largest grocery store chains, with over 2,000 stores across the USA. The initial trial will be in select neighbourhoods in Los Angeles and Orange County.
Additionally, one of the USA’s largest national club/warehouse-style retailers has committed to a monthly Beckett’s™ product feature in an initial Southern California location. This chain’s product features typically include dedicated high-visibility case stack displays and sampling in high-traffic areas near checkout, and are used as an initial step towards wider store rollouts.
Tinley is continuing to pursue additional mass retail placement for its Beckett’s™ line of products, which are eligible for sale in mass, specialty and on-line channels in all 50 states.
Tinley is delighted to be launching in OG Cannabis Café in West Hollywood, California. Recently rebranded from Lowell Farms, one of California’s most prominent cannabis brands, the OG Cannabis Café is the USA’s first full-service, on-site consumption restaurant and lounge. It offers the opportunity to experience cannabis in a sociable, restaurant-style atmosphere, where cannabis-infused beverages may be consumed along with meals. OG Cannabis Café is the first of many cannabis cafes that have been awarded on premises licenses, and the number of these cafes is expected to grow throughout 2020.
On premises consumption is an ideal channel for cannabis beverage consumption, and the growing number of these locations should drive additional inflection in the cannabis beverage category.
Starting this week, Tinley’s full lineup of cannabis-infused beverages will be made available for home delivery throughout California on the Driven Deliveries platform. Driven’s platform covers 92% of California’s population for next day delivery and nearly 60% for same day delivery. This eliminates a bottleneck for consumers who do not live near dispensaries or for new cannabis consumers who do not frequently visit dispensaries. Orders can be placed online and via their mobile app.
Palm Springs Hotels
To supplement the Company’s local and state-wide delivery programs, the Company’s products are now being featured at several hotels in the Palm Springs area. Delivery menus are being placed in guestrooms and public areas, and the products are available for free, 20-minute express delivery to rooms, deliveries fulfilled via a local dispensary partnership. Guests are typically permitted to bring the products to pool decks and elsewhere in these hotels, subject to age restrictions. This service is launching in time for peak season in Palm Springs, a premier vacation destination for nearby Los Angeles and other Southern California residents, as well as for seasonal visitors from northern climates and overseas.
Core Dispensary Channel
In addition to the home, hotel and on-premises cannabis channels, the Company continues to add bricks and mortar dispensaries.
“Despite only a single full quarter in market since relaunching from our Phase 2 facility, the Company is experiencing new listings, growing reorder rates and increasingly larger orders sizes, including one initial order in excess of $50,000 from a two-store chain,” said Ted Zittell, Director of Tinley. “And as we fulfill the demand by specialist and mainstream retailers for Beckett’s™ non-infused versions of our winning taste profiles, we will access an even larger base of mainstream cannabis consumers.”
The Company continues to recognize revenue from the dispensary channel only when paid, as opposed to when products are sold or delivered. As a result, such revenue is often recognized 1-2 quarters after the shipments, due to the flexible payment terms the Company often offers first time customers. Accordingly, during these periods, portions of the Company’s reported inventory includes products that have been shipped to distributors and retail stores, including products that are known to have been sold to customers. These payment cycles shorten for reorders, therefore the Company expects more immediate revenue recognition as shipments grow. Payment cycles for Becketts™ products are expected to be every shorter, given they will typically be shipped directly to retailers’ own locations.
Sports, lifestyle and cannabis editors, as well as members of the public, are invited to hear Baron Davis discuss cannabis beverages and Tinley this evening on Fox Radio, starting at 6pm PT / 9pm ET. Baron is a two-time NBA All Star and early investor of Vitaminwater®, and he has recently joined Tinley’s advisory board.
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 beverages. It has also created 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 will be 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.
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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