Hill Street Beverage (TSXV:BEER)
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6 Months : From Feb 2019 to Aug 2019
TORONTO, Feb. 27, 2019 /CNW/ - Hill Street Beverage Company (TSXV: BEER) ("Hill Street" or the "Company") has signed a national agreement with Lifford Cannabis Solutions Inc. ("Lifford"), who will be responsible for the sales and distribution of Hill Street's cannabis-infused beverage portfolio in Canada.
Lifford's sales team will be responsible for maximizing the number of locations where Hill Street's cannabis-infused beverage portfolio is sold, and ensuring the Company's products are prominently featured in government-owned and independent dispensaries across Canada. By some estimates, there are expected to be over 500 such dispensaries by the time cannabis-infused beverages are expected to become legal later this year. As partial consideration to Lifford, Hill Street will issue to Lifford, $100,000 worth of Common Shares of Hill Street at a deemed price per share equal to $0.1921, which the parties have determined to be equal to the 10-day volume weighted average price of the Common Shares as of February 22, 2019 (the "Consideration Shares"). The issuance of the Consideration Shares is subject to the approval of the TSX Venture Exchange.
"We're leveraging our experience building award-winning alcohol-free wine and beer brands to create extraordinary cannabis-infused beverages, providing consumers with healthier and safer alternatives to alcohol," said Doug Taylor, Executive Vice President of Sales and Distribution at Hill Street. "Having the talented Lifford Cannabis Solutions team representing Hill Street will help ensure our portfolio is readily available for sale in Canada's emerging retail, online, and food service channels in the coming years."
"We couldn't be happier to represent Hill Street Beverages. Their vision and energy establishes the Company as a leading player in this evolving cannabis market, and their notable beverage portfolio really impressed our team," said Lisa Campbell, CEO of Lifford Cannabis Solutions. "The proven technology platform they're using for cannabis-infusion closely mimics the effect consumers get from alcohol without any negative side effects, and will undoubtedly deliver the same type of taste and experience upon which our parent company, Lifford Wines and Spirits, has built its stellar industry reputation."
Hill Street joined Lifford at the Restaurants Canada Show from February 24th to 26th, where Lifford showcased the innovation of cannabis-infused beverages as part of the "Restaurants of the Future" activation.
About Lifford Cannabis Solutions Inc.
Lifford Cannabis Solutions was founded by cannabis advocate Lisa Campbell in order to bring the most premium selections of cannabis to consumers. Lifford assists licensed cannabis companies in getting their products successfully through control boards to retail. A subsidiary of Lifford Wine & Spirits, Lifford Cannabis Solutions brings decades of experience to aid cannabis companies coming to market.
About Hill Street Beverage Company Inc. (TSXV: BEER)
Hill Street Beverage Company is the world's most award-winning company exclusively focused on alcohol-free beer, wine, and adult format beverages. Hill Street's great-tasting products include Hill Street Craft Brewed Lager, Designated Draft alcohol-free beer, Vin(Zero) wines, and Vintense wines, and have won numerous medals and accolades including three Gold, two Silver, and two Bronze Medals at the U.S. Open Beer Championships, the Retail Council of Canada's Grand Prix award, and a prestigious Double Gold Medal at the San Francisco International Wine Challenge. Hill Street will also produce and sell cannabis-infused adult beverages as soon as the sale of cannabis edibles becomes legal in Canada, expected to occur by October 17, 2019. Hill Street has licensed a patented infusion technology from Lexaria Bioscience (CSE:LXX) that allows cannabis to be infused into a beverage such that it mimics the onset and duration effects of alcohol with minimal impact on the taste, smell, or shelf-stability of the product. Check out Hill Street's award-winning line-up and order product to be delivered straight to your home at www.hillstreetbeverages.com.
SOURCE Hill Street Beverage Co.