Hill Street Applies for Cannabis License

TORONTO, Sept. 18, 2018 /CNW/ – Hill Street Beverage Company Inc.  (“Hill Street” or “the Company”) (TSX-V: BEER) has submitted an application to Health Canada’s Office of Controlled Substances for a Standard Processor Licence under the Cannabis Act. This license, if granted, will allow the Company to, among other things, produce, make, assemble, sell, provide and transport cannabis products, subject to applicable regulations.

 

“Hill Street’s application marks a significant step forward in the extension of our portfolio of alcohol-free beverages, and our transition coincides with the scheduled change in the status of cannabis.” said Terry Donnelly, Hill Street’s Chairman and CEO. “While we have applied for a Dealer License, this license as we know it will cease to exist on October 17 when cannabis is approved for recreational use in Canada. At that time, our application will be converted into a Standard Processor Licence.”

 

About Hill Street Beverage Company Inc. (TSXV:BEER)

Founded in 2008, 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 products include: Hill Street Craft Brewed Lager, Designated Draft alcohol-free beer, Vin(Zero) wines, and Vintense wines. Hill Street’s award-winning products have won the Retail Council of Canada’s Grand Prix, and numerous medals and accolades including three Gold, two Silver, and two Bronze Medals at the U.S. Open Beer Championships, and a prestigious Double Gold Medal at the San Francisco International Wine Challenge. As a result of the Royal Assent of Canada’s Bill C-45, legislation to allow the sale of cannabis-infused beverages is expected to occur by October 17, 2019. Hill Street is currently applying for appropriate licenses to permit the production and sale of cannabis infused beverages in Canada, with the view of having infused products available for sale once the regulations permit. www.hillstreetbeverages.com

 

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FORWARD-LOOKING STATEMENTS

Statements in this press release may contain forward-looking information.  Any statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions.  The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances, such as future availability of capital on favourable terms, may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company.  The reader is cautioned not to place undue reliance on any forward-looking information.  Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.  Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.  The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For further information:

Press only:

Terry Donnelly, Chairman and CEO, Hill Street Beverage Company Inc.,

terry@hillstreetbevco.com, (416) 543-4904

 

For investors:

Gareth Tingling, Investor Relations,

gareth@sophiccapital.com, (647) 797-0219