TINLEY BEVERAGE CO ORD - TNYBF STOCK NEWS

The Tinley Beverage Company Inc. (CSE: TNY) (OTCQB: TNYBF) has closed a non-brokered private placement and debt settlement with a total value of approximately $8.3 million. The company issued 26,788,381 Units, each consisting of 5 common shares and 5 warrants. The private placement raised $1.8 million, while the debt settlement extinguished $6.5 million of outstanding debt, including $5,338,035 owed to Blaze Life Holdings, (BLH).

As a result, BLH has become a new Control Person, owning approximately 18.40% of Tinley's outstanding shares. CEO Larry Weintraub expressed optimism about the company's future, citing increased sales opportunities and new product innovation. The funds will be used for marketing support, brand growth, and meeting product demand.

The Tinley Beverage Company Inc. (CSE: TNY) (OTCQB: TNYBF) has announced an update on its private placement and debt settlement transactions, now expected to have an aggregate value of approximately CDN$8.3 million. The private placement aims to issue up to 9,997,720 units at $0.18 per unit, raising about $1.8 million. The debt settlement involves settling approximately $6.5 million of outstanding debt, including $5,338,035 owed to strategic partner Blaze Life Holdings, (BLH). This will be done through issuing up to 16,790,661 additional units and transferring Tinley's bottling line to BLH at a deemed price of about $3.5 million. Each unit comprises five common shares and five warrants, with warrants exercisable at $0.05 per share for three years. The transactions are expected to close around September 6, 2024.

The Tinley Beverage Company (CSE: TNY; OTCQB: TNYBF) has announced a series of strategic initiatives under new CEO Larry Weintraub aimed at reducing debt and refocusing business priorities. The company will settle approximately CDN$1.8 million of debt to Blaze Life Holdings (BLH) by issuing shares and warrants at a deemed price of CDN$0.18 per unit. Additionally, Tinley will sell its bottling line to BLH for CDN$3.5 million and exit the co-packing business, focusing instead on its Beckett's no-alcohol, HD9 infused, and cannabis-infused beverages. This move is expected to save USD$1.66 million annually in operating expenses. The company will also settle CDN$84 thousand in former CEO fees and US$612,250 in other debt through similar equity transactions, aiming to reduce overall debt and attract new investment. The transactions are anticipated to close by August 5, 2024.

Tinley Beverage Company has filed its interim financial statements for Q1 2024, showing a focus on expanding its Beckett's no-alcohol beverages. The company raised $2 million in a private placement to build inventory and support sales expansion in the U.S. Tinley has signed a distribution deal with Atlantic Beverage Distributors for Massachusetts and is in final talks with other key regional distributors. The company is also preparing to launch Beckett's Tonics hemp-derived delta-9 THC-infused beverages across several states. Tinley plans further capital raising to fund its growth initiatives.

The Tinley Beverage Company (CSE: TNY, OTCQB: TNYBF) announced the appointment of Larry Weintraub as its new CEO, replacing Theodore Zittell, who will remain on the board as Chairman. Weintraub co-founded Fanscape and held leadership roles at Omnicom, working with brands like Samsung and Uber. He aims to leverage opportunities in the cannabis market, focusing on Tinley's and Beckett's brands. Weintraub received 3 million stock options exercisable over five years at a $0.05 strike price. The strategic shift at Tinley’s comes amid favorable regulatory changes and aims to boost revenue and market presence.

Tinley Beverage Company Inc. grants stock options to directors, officers, employees, and consultants to purchase up to 10,150,000 common shares at $0.06 per share until February 9, 2029.

Press Media LLC acquired 52,800,000 units of The Tinley Beverage Company Inc. for $1,320,000, representing 23% of the issued and outstanding Common Shares or 37% upon exercise of the Warrants. The Acquiror may increase or decrease its beneficial ownership of Common Shares or other securities of the issuer.

Tinley Beverage Company Inc. provides corporate updates, appoints new director, and closes oversubscribed private placement. The company's cannabis manufacturing and distribution facility is now operational, and it plans to increase revenue from sales of Beckett's no-alcohol products. Tinley's is also preparing to launch a new line of Beckett's hemp-derived Delta-9 THC beverages and THC-infused beverages under the Beckett's brand. The company recently appointed Mr. Shreyas Balakrishnan, the CEO of strategic partner Blaze Life Holdings, to its board of directors. The closing of the private placement and debt settlement resulted in the issuance of 80,000,000 Units, with each Unit consisting of one common share and one common share purchase warrant. The company intends to use the net proceeds from the private placement to fund its ongoing business initiatives and for general corporate and working capital purposes.

Tinley Beverage Company Inc. (TNY) announces the filing of its interim consolidated financial statements and management's discussion and analysis for the three and nine month periods ended September 30, 2023. The company also schedules an investor call to update shareholders on near-term value creating opportunities and financing needs.