October 2022 Highlights:
- Record monthly sales.
- Record total sales orders.
- Record new customer conversions.
- Throughput of 17.4 million cans.
- Production commenced using our new Comac CFT rotary filler in Las Vegas
- Announced two new significant long-term agreements with EHP Labs & Woodstream.
- Q3 Earnings webinar announced for November 29, 2022.
VANCOUVER, BC / ACCESSWIRE / November 15, 2022 / Wildpack Beverage Inc. (TSXV:CANS) (OTCQB:WLDPF) ("Wildpack" or the "Company") a U.S. national beverage co-packer and packaging supplier focused on the aluminum can format, today announce record monthly sales for the second consecutive month.
Operations Update
In October 2022, Wildpack achieved a new record for sales, total sales orders, and new customer conversions. October is the second consecutive month for record sales and new customer conversions, demonstrating the continued demand growth for a one-stop beverage manufacturing solution. Wildpack's equivalent 12-ounce can throughput in October was 17.4 million cans. Quality assurance yields remained above 90% for the month.
Wildpack announced the addition of long-term partnerships with EHP Labs (see: Press Release dated October 31, 2022) and Woodstream (see: Press Release dated November 3, 2022) which, in the case of EHP Labs, expands Wildpack's customer base to include Australia, and, in the case of Woodstream, welcomes bird food, a conversion from plastic to aluminum containers driven by sustainability commitments, as a new entrant to our expanding customer base.
In the month, Wildpack brokered 11 million cans, decorated 2.91 million cans, filled 1 million cans and printed 2.5 million sleeves. In October, our Las Vegas facility also commenced production of finished goods for customers with the newly installed Comac CFT filler. The Comac CFT filler increases the cans per minute and expands Wildpack's can size filling capabilities.
"Eclipsing the monthly sales, total sales orders and new customer conversions for the second consecutive month are great confirmations of the Wildpack's value proposition along with our ever-increasing reach of our sales pack team," commented Mitch Barnard, Chief Executive Officer. "Wildpack's ability to attract customers internationally and welcome new entrants to the aluminum can format like bird food, are encouraging measures of the external growing demand and the capabilities Wildpack has within our organization to meet them."
Third Quarter Earnings Call
Wildpack also announces that it expects to release financial results for the third quarter ended September 30, 2022, after the market closes on November 29, 2022. Wildpack will host a webcast to discuss financial results for the quarter, with CEO, Mitch Barnard, CFO, Ryan Mason, and CGO, Thomas Walker. You can register for the webinar below.
Presentation Details:
Date: November 29, 2022
Time: 5pm EDT (2pm PST)
Registration: Online Registration
HAVE QUESTIONS? Management will be available to answer your questions following the presentation on the webinar platform. You may submit your question(s) beforehand in the registration form or by email: [email protected].
Per: "Mitch Barnard"
Mitch Barnard
Chief Executive Officer and Director
For further information, please contact us at: [email protected]
or
Elijah Clare
Vice President, Investor Relations
[email protected]
Advisors
Fasken Martineau DuMoulin LLP is the legal advisor to Wildpack Beverage Inc.
Visit our investor website at: https://investor.wildpackbev.com
About Wildpack
Wildpack is engaged in beverage manufacturing and packaging operating in the middle market by providing sustainable aluminum can filling, decorating, packaging, brokering, sleeve/label printing services, and logistics to brands throughout the United States. Wildpack currently operates indirectly through its wholly owned subsidiaries and out of six facilities in Baltimore, Maryland; Grand Rapids, Michigan; Atlanta, Georgia; Longmont, Colorado; Sacramento, California; and Las Vegas, Nevada with a focus on digital innovation and green ready-to-drink packaging. Wildpack commenced trading on the TSX Venture Exchange under the symbol "CANS" on May 19, 2021, and on the OTCQB® Venture Market under the symbol "WLDPF" on February 23, 2022.
Cautionary Statement on Forward Looking Information
This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws, including, but not limited to, statements with respect to Wildpack's plans, investments from private placements, anticipated revenue from manufacturing agreements, board appointment, plans to build additional facilities, financial performance and operating performance, anticipated growth in co-packing business, the estimation of revenue, the timing and targets of M&A activity, costs, future capital expenditures, and the success of scaling up production. Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks including but not limited to: risks related to the successful integration of acquisitions; risks related to operations; risks related to general economic conditions and credit availability, ability to obtain sufficient and suitable financing, actual results of current production and decorating, fluctuations in prices of aluminum; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the co-packaging industry; delays in the completion of capex activities, changes in national and local government regulation of manufacturing operations and labour laws particularly in light of the COVID pandemic, tax rules and regulations, and political and economic developments where Wildpack operates. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe", or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Forward-looking statements expressed or implied by Wildpack are subject to a number of risks, uncertainties, and conditions, many of which are outside of Wildpack's control, and undue reliance should not be placed on such statements. Although Wildpack has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties related to Wildpack's business, including that Wildpack's assumptions in making forward-looking statements may prove to be incorrect; delays in filing of financial information; adverse market conditions; risks inherent in the beverage manufacturing and packaging sector in general; that future results may vary from historical results; and competition in the markets where Wildpack operates. Except as required by securities law, Wildpack does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Neither the 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: Wildpack Beverage Inc.