- The Tinley Beverage Company (TNY) has issued up to US$3.5 million, 12-per-cent-secured convertible grid note of the company to Blaze Life Holdings
- The company has also and finalized the terms of its US$612,250 advance from Richard Gillis, President and Chief Operating Officer of Tinley’s USA
- The company and BLH have also agreed to enter into a management services agreement
- Tinley’s has agreed to recommend two director nominees of BLH for election to the board of directors of the company at the next annual and special meeting in August
- The Tinley Beverage Company is a functional beverage company focused on hemp-infused beverages and supplements
- The Tinley Beverage Company Inc. is unchanged, trading at $0.105 at 10:11 am ET
The Tinley Beverage Company (TNY) has issued a secured convertible grid note of the company to Blaze Life Holdings, LLC.
The grid note will bear interest at a rate of 12 per cent per annum and has a term of five years.
The company also has finalized the terms of its US$612,250 advance from Richard Gillis, President and Chief Operating Officer of Tinley’s USA, and member of Tinley’s Office of the CEO, which is now evidenced by a US$612,250 12 per cent secured convertible promissory note of the company.
The Gillis Note will bear interest at a rate of 12 per cent per annum and has a term of one year.
The company and BLH have also agreed to enter into a management services agreement which will see BLH provide certain management services to Tinley’s, Algonquin and Tinley’s other US-based subsidiaries.
In connection with the issuance of the BLH Note, the company has agreed to recommend two director nominees of BLH for election to the board of directors of the company at the next annual and special meeting of shareholders of the company in August.
The Tinley Beverage Company is a functional beverage company focused on hemp-infused beverages and supplements.
The Tinley Beverage Company Inc. is unchanged, trading at $0.105 at 10:11 am ET.