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The Beer Store announced in early 2015 that it would be opening its ownership to all Ontario-based brewers, large and small, and offering small Ontario brewers two free listings at five stores proximate to their brewery.
Since those changes were announced, several Ontario brewers expressed interest in becoming owners of the Beer Store. Many small brewers moved ahead with free listings at stores proximate to their brewery.
The Province of Ontario subsequently announced, in 2015, that it intended to make a number of changes to the beer retailing and distribution system in Ontario.
As part of those changes the Beer Store entered into a Master Framework Agreement with the Province. This agreement provided for a number of changes to Ontario’s system of beer retailing and distribution including changes to the Beer Store ownership model. Under the current ownership model Ontario, brewers who satisfy certain qualification criteria have the opportunity to become Beer Store shareholders.
In 2016, The Beer Store also added four independent directors to its board of directors and an Ombudsman to support our fairness and transparency policies.
The Beer Store also increased the number of stores at which small Ontario brewers with annual beer volumes of 10,000 hectoliters or less can list two new products without paying any listing fee. Those brewers will now be able to list two products at two more stores, for a total of seven beer stores proximate to their brewery.
Details on how to become a shareholder of the Beer Store will be made available to eligible Ontario-based brewers holding a manufacturing license issued by the Alcohol and Gaming Commission of Ontario on a periodic basis.
The foregoing is for information purposes only and does not constitute a legal offer to sell or a solicitation to purchase shares of TBS. The foregoing contains summary information only. TBS does not make any representations or warranties as to the accuracy or completeness of this information. Certain information contained above includes “forward looking statements”, all of which are based on certain material factors, assumptions and conditions, some of which may be unknown to TBS. Forward-looking statements are inherently uncertain and actual events or results can and will differ from those projected. Therefore, undue reliance should not be placed on such forward looking statements.