November 2022 Highlights (in USD):
- Confirmed Customer Orders: $5,874,535.
- Confirmed Sales Orders: 184.
- New Customer Conversions: 46.
- Total Throughput of 21,728,174 million cans.
- Decoration Throughput: 3,097,652 cans.
- Filling Throughput: 2,223,805 cans.
- Brokering Throughput: 14,427,812 cans.
- Plant Utilization: 26%
VANCOUVER, BC / ACCESSWIRE / December 20, 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 announces new monthly records for confirmed customer orders of $5,874,535, total throughput of 21,728,174 cans, filling throughput record of 2,223,805 cans, and brokering throughput of 14,426,812 can and can equivalents.
"Wildpack's monthly numbers continue to prove that the increasing ramp in sales and production levels continues to build," commented Mitch Barnard, Chief Executive Officer. "Wildpack is attracting new customers, improving facilities, and modernizing our platform. Three consecutive record months of customer confirmed orders and improving plant utilization are compelling key indicators for the health of Wildpack."
Operations Update
In November 2022, Wildpack's confirmed customer order and filling throughput records were accompanied by a 37% month-over-month improvement in plant utilization to 26%. The total utilization of 26% represents Wildpack's second highest month of 2022. Record customer confirmed orders of $5.9 million was driven by higher per order average sales, and 46 new customer conversions, Wildpack's second highest conversion total in the year.
Wildpack's November's throughput of 21.7 million cans was driven by records in both filling and brokering throughput. The Filling division had throughput of 2.2 million cans, the Brokering division had 14.4 million equivalent 12-ounce cans brokered. The Decorating and Printing divisions, while not records, had strong throughput of 3.1 million cans and 2 million sleeves respectively. Wildpack maintained quality assurance yields above 90% for the month across all production lines.
Wildpack also announced the addition of a long-term partnership with Woodstream (see: Press Release dated November 3, 2022) representing the intersection of mutual sustainability commitments, a new entrant to the aluminum can format and a diversification and cross-seasonal change in Wildpack's customer base.
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.