Tinley Beverage Company Completes Non-Brokered Private Placement and Debt Settlement
On August 30, 2024, The Tinley Beverage Company Inc. (CSE: TNY) (OTCQB: TNYBF), a cannabis beverage company, completed its non-brokered private placement of units at a price of $0.18 per unit for gross proceeds of approximately $1.8 million. Each unit consisted of five common shares in the capital of the company and five common share purchase warrants.
Concurrently, Tinley settled approximately $6.5 million of outstanding indebtedness pursuant to the issuance of additional units and the transfer of Tinley’s bottling line to its strategic partner, Blaze Life Holdings, LLC at a deemed price of approximately $3.5 million. The strategic restructuring significantly improved Tinley’s balance sheet and materially affected control of the company.
Aird & Berlis represented Tinley with a team that included Liam Tracey-Raymont and Karlie Nordstrom (Capital Markets).
