Tinley Beverage Company (TNY.C) has manufactured and shipped its first series of third-party products from the Company’s facility in Long Beach, California. Furthermore, Tinley also announced that Good Stuff Beverage Co. (GSBC) will be moving its production to Tinley’s facility.
“Tinley has an incredibly strong value proposition for an existing brand like Good Stuff Beverages. Their rock star team and their industry-leading, purpose-built equipment will provide us the scalability we need since we began experiencing our ‘hockey stick’ growth trajectory this year…I strongly believe that a disproportionate number of the long-term winners in the California cannabis beverage sector will come from their facility,” said Daniel Grim, co-founder of Good Stuff Beverage Co.
With spring’s arrival after an arduous winter, cannabis-infused beverages are sure to see some popularity as temperatures rise. GSBC has been producing a wide variety of cannabis-infused refreshments like its Natural Health Honey Lemonade, Strawberry Hibiscus Lemonade, and caffeinated Raspberry Iced Tea. GSBC’s highly anticipated lineup showcases the company’s strain-specific, high-dose tonics. Additionally, GSBC’s lineup will introduce its highly coveted 100/100 CBD-THC Black Cherry Lemonade.
By moving its production of tonics to Tinley’s facility, GSBC now has access an advanced facility that offers increased scalability for the company. Furthermore, GSBC’s in-house specialized production equipment will be coupled with Tinley’s food quality and process experts, allowing for consistency and stability of products. With this in mind, the first production runs for two third-party SKU’s have been completed and shipped to the client brand’s distributors. GSCB reports listing of its products in nearly 400 dispensaries and remains confident its brands will be received well by the cannabis community in California.
“Completing our first client production runs mark the biggest milestone for the Company since inception. This achievement represents the culmination of our comprehensive, multi-year buildout, and has created a significant asset for shareholders…We have five more SKU’s to produce in the near term for our inaugural third-party brands. Production planning is also underway for a second tranche of clients, along with the associated manufacturing agreements,” said Douglas Fulton, director of Tinley
Tinley has been performing quite well in the new year as its brands reach more provinces in Canada. Moreover, the Company announced that it would begin producing Cannabis Quencher, one of California’s best-selling cannabis beverages, on February 3, 2021. In the past year, Tinley has grown at a gradual pace via a multi-year buildout strategy. With various manufacturing agreements under its belt, the Company will likely see continued growth as the year progresses.
Tinley’s stock price opened at $0.44 and has since dropped down to $0.43.