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New business verticals allow Hill Street to monetize patented DehydraTECH(TM) technology usage rights acquired from Lexaria BioScience and capitalize on surging global Cannabis market
Hill Street Beverage Company Inc. (TSXV: BEER) ("Hill Street" or the "Company") has announced a new investor information package with a bold new direction that formalizes monetization plans and innovative business strategies.
Hill Street, the award-winning producer of superior alcohol-free brands will leverage its recently acquired rights to use non-pharmaceutical Cannabis patents and intellectual property owned by Lexaria Bioscience Corp. ("Lexaria") to pioneer a new business space where craft quality meets bioscience.
"This new direction will position the Company to satisfy accelerating global demand for superior commercial ingredients and consumer products," said Lori Senecal, co-interim CEO of Hill Street Beverages Inc. "Lexaria's patented DehydraTECHTM technology is an incredible engine for growth, that allows us to continue to build trusted brands and create a new, robust portfolio of revenue generating businesses."
These new products will be brought to market under the Company's wholly owned subsidiary Hill Avenue Cannabis Company that will be comprised of two units, Hill Avenue Cannabis Brands and Hill Avenue Cannabis Technologies.
Hill Avenue Cannabis Brands will specialize in business-to-consumer (B2C) edibles products for a growing global market. Hill Avenue Cannabis Technologies will provide DehydraTECHTM enabled business-to-business (B2B) solutions for both extractors and consumer packaged goods (CPG) manufacturers. These opportunities facilitate entry into new categories, industries and geographies.
"These two new units will offer a wide range of expertise covering everything from oil conversion services to help extractors extend shelf life by turning oil into shelf stable powder, to the production and sale of DehydraTECHTM powder to CPG manufacturers for infusion into their products," added Craig Binkley, co-interim CEO of Hill Street Beverages Inc. "We anticipate that our Lucknow R&D Labs in Mississauga, Ontario, will play a future role in Cannabinoid product R&D, giving us multiple ways to add significant value in the Cannabis sector."
This new strategy expands the company's commercial potential by adding higher margin intellectual property (IP) to current CPG expertise and scaled B2B to its already strong B2C business and extending sales beyond Canada to a truly global market.
Hill Street's Investor Presentation is available at www.hillavenuecannabis.com - a new age-gated website dedicated to the Cannabis business. This site will host a complete source of information and content on Hill Avenue Cannabis's businesses, including the recently announced B2C offering, (V)ia RegalTM Pink Grape Sparkler.
About Hill Street Beverage Company Inc. (TSXV: BEER)
Hill Street Beverage Company is a leading and award-winning company focused on alcohol-free beer, wine, and adult-format beverages. Hill Street's brands include Hill Street Craft Brewed Lager, and Vin(Zero), and have won numerous medals and accolades around the world. Hill Avenue Cannabis, the Company's wholly-owned subsidiary, will produce and sell Cannabis-infused adult beverages and other Cannabis products with expected distribution at licensed outlets in 2021, as well as commercializing Lexaria's patented DehydraTECHTM fast-acting platform technology.
Check out Hill Street's award-winning alcohol-free line-up and order product to be delivered straight to your home at www.hillstreetbeverages.com, and cannabis related business activities and products at www.hillavenuecannabis.com.
For further information:
Craig Binkley, Co-interim CEO Hill Street Beverage Company Inc.,
craig@hillstreetbevco.com
Lori Senecal, Co-interim CEO Hill Street Beverage Company Inc.,
lori@hillstreetbevco.com
Follow Hill Street on Twitter https://twitter.com/hillstreetbevco
and on Facebook https://facebook.com/hillstreetbevco
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.
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