Company completes production fulfillment of first orders to new international distributor
Hill Street Beverage Company Inc. (TSXV: BEER) (the "Company") is pleased to announce a new distribution agreement in Australia and production fulfillment of the first orders of Vin(Zero) products to this new expansion market. These orders represent Hill Street's first alcohol-free wine sales beyond North America and are the result of rigorous analysis of its alcohol-free business with a view to accelerating scale, profitability, and brand equity in this global growth category.
Exponential demand for alcohol-free wine is growing worldwide, driven in-part by consumers aged 18-24 years, dubbed 'Generation Sensible'. The desire to reduce alcohol intake among a growing number of these cleaner drinking, more health-conscious consumers is driving demand for better quality non-alcoholic options. This represents a tremendous opportunity for Hill Street, whose corporate mission is to bring together craft quality and science to create better tasting, better for you experiences across its portfolio.
"At Hill Street we are focused on markets that exhibit not only strong alcohol-free growth but also those that have shown a propensity for the purchase of premium quality, craft offerings," said June Nicholson, COO of Hill Street. "For example, alcohol-free wine is Australia's fastest growing drinks category, despite its long tradition and well-established alcohol wine consumption habits. Increasingly, Australian consumers are demanding more premium alcohol-free options; they want to enjoy a glass of well-crafted wine with the great taste they expect but without the alcohol. They appreciate an authentic experience and aroma, yet with less sugar and fewer calories than traditional wine as they shift to mindful consumption."
This demand for Hill Street export to other countries is driven by the quality and reputation of the beverages, supported by the prime position that Vin(Zero) holds at Canadian retailers country wide.
"Hill Street's Alcohol-free wine is a growth business that generates important revenue that helps fuel other strategic priorities such as our new Hill Avenue Cannabis business lines," said Craig Binkley, Co-CEO of Hill Street. "The acquisition of the global usage rights for patented DehydraTECHTM from the Lexaria group of companies, aimed at growing our cannabis business worldwide, has also mobilized the Company to expand our geographic footprint across all of our business lines including the new global export strategy for alcohol-free beverages."
Hill Street's Vin(Zero) branded wines are making their way into consumers' hands via this new distribution agreement, including our Chardonnay, Cabernet Sauvignon, Brut Blanc and Shiraz (Rosé). Australians can expect to see these brands as recurring favourites at leading retailers like Dan Murphy's, Australia's leading beverage distributor.
The Company also announces that further to its press release dated December 10, 2020, in connection with its first deferred payment obligation of $500,000 owing under the asset purchase agreement with the Lexaria group of companies, wherein it acquired certain assets of Lexaria Bioscience Corp., the Company has issued 7,575,758, common shares to Lexaria CanPharm ULC.
About Hill Street Beverage Company Inc. (TSXV: BEER)
Hill Street Beverage Company is a progressive non-alcoholic beverage and cannabis solutions company. We are pioneering the space where craft consumer products meet bioscience by combining our deep CPG expertise and our rights to use Lexaria Bioscience's ground-breaking DehydraTECH™ patent portfolio for product development, licensing and B2B sales of Cannabis ingredients.
Hill Street Beverages brands include Hill Street Craft Brewed Lager, and Vin(Zero), and have won numerous medals and accolades around the world. Hill Avenue Cannabis Brands include (V)ia Regal Pink and White Grape Sparklers.
For more information on our business activities or to check out Hill Street's award-winning alcohol-free line-up and order product to be delivered straight to your home go to www.hillstreetbeverages.com.
For more information:
Lori Senecal, Interim Co-Chief Executive Officer Hill Street Beverage Company Inc.,
Craig Binkley, Interim Co-Chief Executive Officer Hill Street Beverage Company Inc.,
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