The Tinley Beverage Company Inc. (CSE:TNY) is pleased to announce that it has closed its previously announced brokered private placement of units pursuant to an agency agreement dated April 6, 2018 with Canaccord Genuity Corp. and Gravitas Securities Inc. raising gross proceeds of CAD$5,055,000. Pursuant to the Offering, Tinley sold an aggregate of 5,055,000 Units for aggregate gross proceeds of CAD$5,055,000.  Each Unit was issued at a price of CAD$1.00 and comprised of one common share of the Company and one common share purchase warrant of the Company.  Each Warrant is exercisable to acquire one Common Share of the Company for a period of 24 months following the closing date at an exercise price of CAD$1.35 per Common Share.  The Company intends to use the net proceeds from the Offering for expansion beyond California, beverage marketing, acquisitions, and working capital.  

In consideration of the services by the Agents in connection with the Offering, the Agents received an aggregate cash commission of CAD$404,400.  Additionally, the Agents received 404,400 options to acquire Units exercisable for a period of 24 months from the closing date at an exercise price of CAD$1.00 per Agents’ Unit Option. Each Agents’ Unit Option entitles the Agents to acquire one Common Share and one Warrant, exercisable into one Common Share at CAD$1.35 for a period of 24 months from the closing date. The Agents also received a corporate finance fee, payable in 202,200 Units with each Agents’ Fee Unit being comprised of one Common Share and one Warrant exercisable into one Common Share at CAD$1.35 for a period of 24 months following the closing date.

All securities issued or issuable pursuant to the Offering are subject to a hold period of four months and one day.

About The Tinley Beverage Company, Inc.

The Tinley Beverage Company (Toronto, Canada) manufactures a line of liquor-inspired, alcoholfree, cannabis-infused beverages for use in California.  Tinley also manufactures the “Hemplify” and “Tinley’s Tonics” line of products, which are available in 100+ retail locations in California and online throughout the United States.  “Hemplify” is a line of fruit-flavored, sugar-free, vegan, drinkable supplements that contain hemp stalk extract. This extract contains terpenes and other phytoconstituents. Each product also contains 9-12x the potassium electrolyte content of major sports drinks, 200mg of Omega 3 and excellent sources of 9 vitamins, including 100% DV of Vitamin C, B12 and D. The Tinley’s Tonics squeeze supplement is a creamy, chocolate blend of hemp extract, MCT oil and lactose-reduced whey protein.