- Hill Street Beverage Company (BEER) has won a new retail account with a major national retailer in Quebec
- Through the account, the company has secured listings for its alcohol-free beer product, which is expected to be popular
- Hill Street also welcomed the appointment of Bryan Brissette and Parviz Yousefian to positions within the business
- The company additionally announced plans to conduct a non-brokered private placement of units at five cents each
- Hill Street Beverage Company (BEER) is down 10.53 per cent and is currently trading for C$0.085 per share
Hill Street Beverage Company (BEER) has won a new retail account with a major national retailer in Quebec.
Through the new account, the company has secured listings for its alcohol-free beer product. Hill Street expects its product to be well-received in the province of Quebec, which has the most alcohol-free consumption in the country.
Hill Street’s Chief Operating Officer, June Nicholson, commented on the company’s new retail account, and the effect of COVID-19 on the current market.
“Securing new retail listings during a very challenging economic climate poses a unique set of challenges as consumers’ purchasing habits are significantly different during the pandemic.
“We will begin to see the financial impact of this new win in 2021 as distribution in Quebec begins to increase and the brands continue to be more widely available at even more major national grocery retailers,” she said.
In addition to the new retail account, Hill Street also welcomed the appointment of two people to positions within the business. Bryan Brissette, formerly a financial manager for Molson Coors, has joined the company to fill the role of Controller.
Parvis Yousefian has been appointed to the role of Quality Assurance Leader, in which he will focus on Hill Street’s cannabis-infused products portfolio. This will include the company’s joint manufacturing partnership with Lexaria.
Finally, Hill Street also announced plans to conduct a non-brokered private placement of company units, at five cents each. Each unit will contain one common share and one whole warrant.
One warrant will allow the holder to acquire one more common share in Hill Street for C$0.13, within two years of the placement closing. The company expects the private placement to close some time around November 30, 2020.
Hill Street Beverage Company (BEER) is down 10.53 per cent and is trading at 8.5 cents per share, as of 2:47pm EST.