Tinley Confirms Delay of Annual Filings and Cease Trade Order

May 08, 2023 5:05 PM EDT | Source: The Tinley Beverage Company Inc.

Toronto, Ontario--(Newsfile Corp. - May 8, 2023) - The Tinley Beverage Company Inc. (CSE: TNY) (OTCQB: TNYBF) (the "Company") announced today that it will be filing its annual financial statements, management's discussion and analysis and related officer certifications for the financial year ended December 31, 2022 (collectively, the "Annual Filings") beyond the required filing deadline under Parts 4 and 5 of National Instrument 51-102 Continuous Disclosure Obligations and pursuant to National Instrument 52-109 Certification of Disclosure in Issuer's Annual and Interim Filings and is now subject to a cease trade order dated May 5, 2023 (the "CTO"). In order to remove the CTO, among other things, the Company will need to complete the audit and file the Annual Filings on SEDAR.

The Corporation is working closely with its auditor and expects to file the Annual Filings as soon as possible. The Corporation does not anticipate any delay in filing its interim financial statements, management's discussion and analysis, and the related officer certifications for the financial period ended March 31, 2023.

About The Tinley's Beverage Company

The Tinley's Beverage Company Inc. (CSE: TNY) (OTCQB: TNYBF) develops and has licensed the production through its Long Beach, CA state-licensed manufacturing facility of terpene and cannabis-infused non-alcoholic Tinley's '27TM and Tinley's TonicsTM products which are distributed to licensed dispensaries and to home delivery channels in California. The Beckett's Classics® and Beckett's '27® lines are the non-alcoholic, non-cannabis versions of the Tinley's formulations and are available in select mainstream food, beverage, and specialty in the United States.

Forward-Looking Statements

This news release contains forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements are statements and information that are not historical facts but instead include financial projections and estimates, statements regarding plans, goals, objectives and intentions, statements regarding the Company's expectations with respect to its future business and operations, and the timing of the completion, approval and filing of its 2022 annual financial statements, management's discussion and analysis, and related officer certifications. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to defer materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law. Products, formulations, and timelines outlined herein are subject to change at any time.

For further information, please contact:

The Tinley Beverage Company Inc.

Teddy Zittell (310) 507-9146 relations@drinktinley.com

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