Tinley's Provides Update on Upsized Non-Brokered Private Placement and Expanded Debt Settlement with an Anticipated Aggregate Value of up to $8.3 Million
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 Inc. (CSE: TNY) (OTCQB: TNYBF) ha annunciato un aggiornamento sulle sue transazioni di offerta privata e di risoluzione del debito, ora si prevede un valore complessivo di circa CDN$8,3 milioni. L'offerta privata mira a emettere fino a 9.997.720 unità a $0,18 per unità, raccogliendo circa $1,8 milioni. La risoluzione del debito comporta il pagamento di circa $6,5 milioni di debito in sospeso, inclusi $5.338.035 dovuti al partner strategico Blaze Life Holdings (BLH). Questo avverrà tramite l'emissione di fino a 16.790.661 unità aggiuntive e il trasferimento della linea di imbottigliamento di Tinley a BLH a un prezzo stimato di circa $3,5 milioni. Ogni unità comprende cinque azioni ordinarie e cinque warrant, con warrant esercitabili a $0,05 per azione per tre anni. Si prevede che le transazioni vengano chiuse intorno a 6 settembre 2024.
The Tinley Beverage Company Inc. (CSE: TNY) (OTCQB: TNYBF) ha anunciado una actualización sobre sus transacciones de colocación privada y liquidación de deudas, que ahora se espera que tengan un valor total de aproximadamente CDN$8,3 millones. La colocación privada tiene como objetivo emitir hasta 9,997,720 unidades a $0.18 por unidad, recaudando alrededor de $1.8 millones. La liquidación de deudas implica el pago de aproximadamente $6,5 millones de deuda pendiente, incluyendo $5,338,035 adeudados al socio estratégico Blaze Life Holdings (BLH). Esto se llevará a cabo mediante la emisión de hasta 16,790,661 unidades adicionales y la transferencia de la línea de embotellado de Tinley a BLH a un precio estimado de alrededor de $3,5 millones. Cada unidad consiste en cinco acciones comunes y cinco warrants, con warrants ejercitables a $0,05 por acción durante tres años. Se espera que las transacciones se cierren alrededor del 6 de septiembre de 2024.
틴리 음료 회사(Tinley Beverage Company Inc.) (CSE: TNY) (OTCQB: TNYBF)는 사모 배급 및 채무 정산 거래에 대한 업데이트를 발표하였습니다. 현재 총 가치가 약 CDN$8.3백만에 이를 것으로 예상됩니다. 사모 배급은 최대 9,997,720 단위를 단위당 $0.18에 발행하여 약 $1.8백만을 모으는 것을 목표로 하고 있습니다. 채무 정산은 전략적 파트너인 Blaze Life Holdings(BLH)에게 $5,338,035가 포함된 약 $6.5백만의 미지급 채무를 정산하는 것을 포함합니다. 이는 최대 16,790,661개의 추가 단위를 발행하고, 틴리의 병입 라인을 약 $3.5백만으로 평가된 가격으로 BLH에 이전함으로써 이루어질 것입니다. 각 단위는 다섯 개의 보통주와 다섯 개의 워런트로 구성되며, 워런트는 주당 $0.05에 3년 동안 행사할 수 있습니다. 거래 마감은 2024년 9월 6일경으로 예상됩니다.
The Tinley Beverage Company Inc. (CSE: TNY) (OTCQB: TNYBF) a annoncé une mise à jour concernant ses opérations de placement privé et de règlement de dettes, qui devraient désormais avoir une valeur totale d'environ CDN$8,3 millions. Le placement privé vise à émettre jusqu'à 9 997 720 unités à 0,18 $ par unité, récoltant ainsi environ 1,8 million $. Le règlement de la dette implique le paiement d'environ 6,5 millions de dollars de dettes impayées, y compris 5 338 035 $ dus au partenaire stratégique Blaze Life Holdings (BLH). Cela se fera par l'émission de jusqu'à 16 790 661 unités supplémentaires et le transfert de la ligne de mise en bouteille de Tinley à BLH à un prix estimé d'environ 3,5 millions de dollars. Chaque unité se compose de cinq actions ordinaires et cinq bons de souscription, avec des bons pouvant être exercés à 0,05 $ par action pendant trois ans. Les transactions devraient se clore aux alentours du 6 septembre 2024.
The Tinley Beverage Company Inc. (CSE: TNY) (OTCQB: TNYBF) hat ein Update zu seinen Privatplatzierungs- und Schuldenkonsolidierungsmaßnahmen bekannt gegeben, die nun einen Gesamtwert von etwa CDN$8,3 Millionen haben sollen. Die Privatplatzierung zielt darauf ab, bis zu 9.997.720 Einheiten zu einem Preis von 0,18 $ pro Einheit zu emittieren, was etwa 1,8 Millionen $ einbringt. Die Schuldenkonsolidierung umfasst die Bezahlung von etwa $6,5 Millionen an ausstehenden Schulden, einschließlich 5.338.035 $ an den strategischen Partner Blaze Life Holdings (BLH). Dies wird durch die Ausgabe von bis zu 16.790.661 zusätzlichen Einheiten und die Übertragung von Tinleys Abfüllanlage an BLH zu einem geschätzten Preis von etwa 3,5 Millionen $ realisiert. Jede Einheit besteht aus fünf Stammaktien und fünf Warrants, wobei die Warrants für drei Jahre zu einem Preis von 0,05 $ pro Aktie ausgeübt werden können. Die Transaktionen sollen voraussichtlich um den 6. September 2024 abgeschlossen werden.
- Raising approximately $1.8 million through private placement
- Settling $6.5 million of outstanding debt
- Transferring bottling line to strategic partner BLH for $3.5 million
- Potential dilution of existing shareholders due to issuance of new units
- Loss of bottling line asset to settle debt
Toronto, Ontario and Los Angeles, California--(Newsfile Corp. - August 23, 2024) - The Tinley Beverage Company Inc. (CSE: TNY) (OTCQB: TNYBF) ("Tinley's" or the "Company") is pleased to provide an update on its previously announced private placement (the "Private Placement") and debt settlement (the "Debt Settlement") transactions, which are now expected to have an aggregate value of approximately CDN
The Private Placement is now expected to consist of the issuance of up to 9,997,720 units of the Company ("Units") at a price of
For additional details relating to the Private Placement and Debt Settlement please see the Company's news release dated July 8, 2024.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from the registration requirements is available.
Forward-Looking Statements
This news 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 instead include financial projections and estimates, statements regarding plans, goals, objectives and intentions, statements regarding the Company's expectations with respect to its future business and operations, management's expectations regarding growth and phrases containing words such as "ongoing", "estimates", "intends", "expects", "anticipates", or the negative thereof or any other variations thereon 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 future events or results. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, the timing of production of the Company's new THC-infused products, the timing of the receipt of all final CSE approvals for the Private Placement and Debt Settlement, use of proceeds from the Private Placement, 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 input costs, and changes in consumer tastes and preferences. 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.
For further information, please contact:
The Tinley Beverage Company Inc.
Larry Weintraub
relations@drinktinley.com (CSE: TNY) (OTCQB: TNYBF)
Twitter: @drinktinleys and @drinkbecketts
Instagram: @drinktinleys and @drinkbecketts
www.drinkbecketts.com
www.drinktinley.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220872
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