The Tinley Beverage Company Inc. TNYBF TNY appointed Theodore Zittell as CEO and Richard Gillis as president, Tinley's Brands USA. Gillis's primary focus will be to drive the reintroduction of the full Tinley's brand infused line-up and pursue Tinley's brand growth in California, and address expansion to other US states as opportunities arise. Gillis will also drive expanded sales and distribution of the relaunched Beckett's Tonics and Beckett's 27 products initially rolling out to Total Wine & More retail locations across 27 US states. These appointments coincide with the dissolution of the office of the CEO, which was comprised of members Theodore Zittell, Richard Gillis, and Douglas Fulton.
Grant of Stock Options
The company announced the grant of stock options to purchase up to 6 million common shares in the capital of the company to certain officers, directors, employees and consultants of the company in accordance with the terms of the company's stock option plan. The stock options will be exercisable at a price of $0.10 per common share and for a period of five years from the date of issuance.
"I am encouraged by our progress in California over the past few months since the announcement of the strategic investment by Blaze Life Holdings ("BLH")," stated Zittell. "Our collaboration with BLH has enabled us to enhance capabilities at the company's Long Beach facility, and to realize improved productivity and throughput. In addition, the company has begun to benefit from cost savings through ongoing resource and systems alignment. Our Tinley's management team has delivered key wins over the past few months, notably the relaunch of the full line up of Tinley's branded products in California now underway. The successful reformulation of Beckett's and the planned Q4 2022 launch of seven Beckett's SKU's across more than 200 Total Wine & More locations in the USA is a significant achievement, and we are happy to recognize the team's efforts through the grant of stock options."
Photo by Tim Foster on Unsplash
Related News
Calexo Launches Watercolors, A New Line Of Cannabis-Infused Sparkling Waters With 5mg Of THC Per Can
BevCanna's Q3 Revenue Spikes Over 1000% YoY Ahead Of $21M Embark Acquisition
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!