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.
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of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Hill Street Beverage Co.