TNY stock saw a boost Thursday after The Tinley Beverage Company (CSE:TNY) (OTCQX:TNYBF) announced that it has completed the expansion of its bottling facility in Coachella Valley. By 2:00 pm EST, TNY stock reached $0.67 CAD on the Canadian Securities Exchange, up $0.09 (+15.52%), and $0.49 on OTCQX, up $0.04 (+9.69%).
The company's bottling facility can now produce up to 3 million bottles per year, at an average wholesale price of $3.00–$4.00 USD per bottle for single-serve beverages and $15.00–$17.00 USD per bottle for its multi-serve beverages.
The expanded facility will be producing the next-generation versions of Tinley's cocktail-inspired, non-alcoholic cannabis drinks, which are vegan, gluten-free, and contain as little as one gram of sugar. The company expects to commence production of $200,000 worth of its Margarita and Moscow Mule-inspired, non-alcoholic, cannabis-infused beverages, which will be delivered to stores by April.
TNY Stock Increasing Production Capacity
Tinley is also in the process of expanding its flagship bottling plant in Long Beach, California, which will be completed by the end of the second quarter and will have a capacity of approximately 12 million bottles per year.
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In order to comply with California's new cannabis regulations, the company's next-generation products contain updated cannabis solubilization technology, clean label claims, and packaging. Tinley's new beverage technology will allow for faster onset and offset times, visual clarity and a greater full-flower Sativa effect. Will the updated services affect TNY stock?
Expanding Cannabis-infused Drink Industry
Tinley is revolutionizing the cannabis-infused drink market with its nano-emulsion technology, a process in which cannabis extracts are coated in a substance that will mix with water.
The US cannabis drink industry was worth $86 million last year and is expected to surpass $1 billion by 2024, which is encouraging for innovative companies in the space like Tinley Beverage. The company also offers Hemplify® CBD beverages, positioning itself well for the growing CBD-infused drink market, which some are calling "the next big disruptor in the drinks industry."
Now that Tinley has completed its Coachella bottling facility, will the gains continue for TNY stock?
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