Hill Street Announces Grant of Options

TORONTOJuly 30, 2018 /CNW/ – Hill Street Beverage Company Inc. (“Hill Street” or “the Company”) (TSX-V: BEER), announced that it has granted options to purchase 7,934,510 common shares of the Company at an exercise price of $0.175 per share pursuant to the stock option plan of the Company. The options were granted to existing officers and directors of Hill Street.

In determining to grant options to directors and officers of Hill Street, the Board of Directors reviewed the recommendations of management and the Governance, Nominations and Compensation Committee. “The go-to-market strategy of the Company represents a reboot where we have kept its recipes and awards but rebuilt most of the management team,” said Terry Donnelly, CEO of Hill Street. “The options issued form a substantial component of the total remuneration for key hires given the Company’s performance-based culture.”

 

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, wines, and adult format beverages. Hill Street products include: Vin(Zero) wines, Vintense wines, Hill Street Craft Brewed Lager, and Designated Draft beer. 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 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.

 

SOURCE Hill Street Beverage Company Inc.

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