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.