Hill Street Beverage Company Inc (TSXV: BEER) announced Thursday that it has secured listings for its alcohol-free beer with a major national retailer for the province of Quebec.
This milestone is part of Hill Street’s plan to make its full suite of brands available to consumers in the province with the most alcohol-free consumption, the company said.
"Securing new retail listings during a very challenging economic climate poses a unique set of challenges as consumers' purchasing habits are significantly different during the pandemic," COO June Nicholson said in a statement. "That's why this win is even sweeter for us, as it would seem our brands' reputation as the category leader for alcohol-free wine and beer precedes us, as consumers are requesting our products at their favourite local grocery stores.”
READ: Hill Street Beverage Company sees revenue and gross profits increase thanks to returning customers during FY2020
Nicholson projects that Hill Street will begin to see the financial impact of the listings in early 2021 as distribution in Quebec begins to increase and its brands become more widely available at national grocery retailers.
The company also named Bryan Brissette its new controller and Parviz Yousefian as its quality assurance leader for its cannabis-infused products line.
Brissette was most recently a financial manager for Molson Coors and before that worked for Constellation Brands. He brings a tremendous amount of industry knowledge in beverages to the Hill Street team.
Yousefian has experience in quality assurance and food safety within the food industry, as well as professorships at Seneca College, Centennial College and the Academy of Applied Pharmaceutical Sciences, where he created and ran food and cannabis edibles education programs.
He will help oversee the company's new cannabis-infused product portfolio, including its joint manufacturing partnership with Lexaria Bioscience Corp (OTC:LXRP) (CSE:LXX).
Additionally, Hill Street announced plans to proceed with a non-brokered private placement of C$0.05 units, each containing one common share and one purchase warrant. Each warrant entitles its holder to acquire another common share at a price of C$0.13 for a period of two years.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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