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…
