The Tinley Beverage Company Inc. announced a non-brokered private placement to issue 60,000,000 units at an issue price of CAD 0.025 per Unit for aggregate gross proceeds of up to CAD 1,500,000 on January 3, 2024. Each Unit is expected to consist of one common share and one Common Share purchase warrant. Each Warrant will entitle the holder to purchase one Common Share at a price of CAD 0.05 per Common Share until the date which is three years from the date of closing of the Private Placement.

The Private Placement is expected to be completed on or about January 12, 2024, subject to receipt of regulatory approvals, including the approval by the Canadian Securities Exchange, and satisfaction of customary closing conditions. The Private Placement may close in multiple tranches. All securities issued under the Private Placement, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the date of issuance.

The Company anticipates that certain insiders may subscribe for approximately 50,000,000 Units under the Private Placement for an aggregate subscription price of approximately CAD 1,250,000.