Companies to Promote Hill Street's Alcohol-Free and Cannabis-Infused Brands
TORONTO, May 27, 2019 /CNW/ - Hill Street Beverage Company Inc. ("Hill Street" or the "Company") (TSX-V: BEER), and ZoomerMedia (TSX-V: ZUM) announced today that they have formalized a three-year strategic partnership to market Hill Street's alcohol-free and cannabis-infused products to ZoomerMedia's national audience. The partnership involves $1.2 million worth of prime media on the ZoomerMedia portfolio of media properties over three years, building on the successful campaigns that have been running for the past year since the two companies first started working together.
Under the terms of the agreement, ZoomerMedia will provide preferential media support, placement, and rates for both traditional and digital media. As additional compensation, Hill Street intends to issue 2,500,000 warrants to ZoomerMedia, with each warrant entitling the ZoomerMedia to purchase one (1) common share in the capital of Hill Street at an exercise price of $0.20 per share, for three years from the date of issuance. The issuance of the warrants is subject to the approval of the TSX Venture Exchange.
"We've had tremendous success with a number of our recent marketing campaigns, including our Hill Street Challenge, by leveraging Zoomer Radio and Zoomer Magazine," said Terry Donnelly, Chairman and CEO of Hill Street. "Zoomer's media personalities have been extraordinary, authentic brand ambassadors for us, sharing the benefits of going alcohol-free with their listeners and helping them understand that they don't have to compromise on taste when they choose an alcohol-free lifestyle. And with the upcoming launch of our cannabis-infused products, which will be available as soon as cannabis-edibles become legal in Canada, we're confident we can take our partnership with Zoomer Media to the next level."
Grant Of Options
The Company also announces it has granted incentive stock options to certain of its directors and employees to purchase up to an aggregate of 215,000 common shares of the Company (the "Options"). The Options are exercisable for a period of five years, at a price of $0.21 per share, which is the closing price of the common shares on the TSX Venture Exchange on May 23, 2019, the date of grant. All Options were granted in accordance with the Company's stock option plan.
About Hill Street Beverage Company Inc. (TSX-V:BEER)
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's great-tasting products include Hill Street Craft Brewed Lager, Designated Draft alcohol-free beer, Vin(Zero) wines, and Vintense wines, and have won numerous medals and accolades including three Gold, two Silver, and two Bronze Medals at the U.S. Open Beer Championships, the Retail Council of Canada's Grand Prix award, and a prestigious Double Gold Medal at the San Francisco International Wine Challenge. Hill Street will also produce and sell cannabis-infused adult beverages as soon as the sale of cannabis edibles becomes legal in Canada, expected to occur by October 17, 2019. Check out Hill Street's award-winning line-up and order product to be delivered straight to your home at www.hillstreetbeverages.com.
About ZoomerMedia (TSX-V: ZUM)
Founded in 2008 by Moses Znaimer (Citytv, CP24, MuchMusic, Bravo! etc.), ZoomerMedia is Canada's only diversified multimedia company devoted to creating content, services and experiences for Canada's largest demographic - "Zoomers", or the 16.1 million Canadians aged 45 plus - on all platforms: television, radio, print, digital, and live events. ZoomerMedia's television properties include VisionTV, Canada's only multi-faith specialty television service available in 9 million homes; ONETV: Get Fit, a 24-hour fitness and health channel with yoga and exercise programs viewers can do from home; JoyTV in Vancouver, Victoria, Surrey and the Fraser Valley; and FAITHTV, the Nation's Faith Station. ZoomerMedia's radio properties include The New Classical FM (96.3 FM in the Greater Toronto Area/103.1FM in Eastern Ontario/102.9FM in Southern Georgian Bay), English Canada's only commercial all-classical music radio service; and Zoomer Radio (AM740 and 96.7FM in Downtown Toronto), playing ZoomerHits - Music That Changed The World. ZoomerMedia also publishes ZOOMER Magazine, the largest paid circulation magazine in Canada for the mature market, everythingzoomer.com - Canada's leading provider of online content targeting the 45plus demographic, and On The Bay Magazine, a regional lifestyle magazine published quarterly for the 20 towns and villages of Southern Georgian Bay, Ontario. ZoomerMedia's tradeshow division operates The ZoomerShow in Toronto and Vancouver, Canada's largest annual lifestyle expos and consumer shows for the 45plus, and produces Moses Znaimer's ideaCity conference, the 3-day Toronto-based conference celebrating its 20th anniversary this year. Both ZoomerMedia and CARP are located in The ZoomerPlex, a 2.6-acre state-of-the-art production and live event complex in Toronto's Liberty Village.
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 Co.
For further information: Press only: Terry Donnelly, Chairman and CEO, Hill Street Beverage Company Inc., [email protected], (416) 543-4904; Leanne Wright, VP Communications, ZoomerMedia Limited, [email protected], (416) 886-6873; For Hill Street investors: Sean Peasgood, Investor Relations, [email protected], (647) 797-0219