As big money streams into California weed plays and liquid edible comparables, Tinley Beverage Company (TNY.C) has announced, after its $2.75 million $0.17 per share financing closed, warrants and stock options are being exercised in heavy numbers, bringing in a further $1.065 million to the company.
The newly tooled up Tinley is starting to cast its eye toward growth, including in Canada, saying the current $3.8 million cash balance “provides ample resources to pursue its organic growth strategy related to CBD and THC beverages. This strategy focuses on Canada and in 5 key Western states with medical marijuana programs and where recreational marijuana use is either legal or where a proposal to legalize recreational use will be on the ballot in the upcoming US election in November.”
We’ve been talking the company up all the way from 11c a few weeks ago, giving readers who opted to buy the stock a 245% profit to date. The financing took a little wind out of the market, priced as it was at less than half the open market price, but the closing of the deal will allow upward mobility once more.
At it’s core, Tinley manufactures the Hemplify line of fruit-flavored, sugar-free, vegan, drinkable hemp stalk-extract supplements, containing terpenes and other phytoconstituents. The company says, “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 B12, C and D.”
Recent news has focused on a new line of de-alcoholized alcohol drinks currently in development that will replace booze with THC, getting you high instead of hung over.
In Monday trading, Tinley traded down slightly, but up 533% from where it was October 1.
— Chris Parry
FULL DISCLOSURE: Tinley is an Equity.Guru sponsor company, and the author serves as a consultant. The author also owns stock in the company. Do your own due diligence.