CALGARY, AB, Aug. 12, 2024 /CNW/ - Big Rock Brewery Inc. (TSX: BR) ("Big Rock" or the "Corporation") is pleased to announce that it has entered into a new 3-year production and sales agency agreement with a strategic partner (the "Agreement").
Under the terms of the Agreement, the Corporation will produce various ready-to drink ("RTD") alcoholic beverages at its brewing, packaging and warehousing facility in Calgary and anticipates incremental volumes of 50,000 hectolitres or more annually. The Corporation shall also be responsible for selling the RTD products destined for the Alberta market. The anticipated increased volumes are expected to help balance the Corporation's overall production levels, providing for manufacturing economies of scale.
"We believe that the signing of the Agreement marks a positive step forward as we continue to work to grow volumes and revenues consistent with our strategic plan," stated David Kinder, President and Chief Executive Officer of Big Rock. "We expect the addition of these volumes will allow us to leverage our existing capacity and take advantage of the greater functionality of our recently introduced high-speed, continuous-motion packaging equipment, the QuikFlex™ 2100G3. Our ability to take this opportunity on is only possible due to the capabilities of our people, both in our production facility and in our sales organization, and our ability to produce complex, high-quality beverages at scale."
Forward-Looking Information
Certain statements contained in this press release constitute forward-looking statements. These statements relate to future events or Big Rock's future performance. All statements, other than statements of historical fact, may be forward-looking statements. Forward-looking information are not facts, but only predictions and generally can be identified by the use of statements that include words or phrases such as, "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "likely", "may", "project", "predict", "propose", "potential", "might", "plan", "seek", "should", "targeting", "will", and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Big Rock believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon by readers, as actual results may vary materially from such forward-looking statements. These statements speak only as of the date of this press release and are expressly qualified, in their entirety, by this cautionary statement.
In particular, this press release contains forward-looking statements pertaining to the following: the incremental volumes anticipated as a result of the Agreement and the expected benefits therefrom, including, without limitation, that the increased volumes are expected to help balance the Corporation's overall production levels, providing for manufacturing economies of scale and that they will allow the Corporation to leverage its existing capacity and take advantage of the greater functionality of its recently introduced high-speed, continuous-motion packaging equipment.
With respect to the forward-looking statements listed above and contained in this press release, management has made assumptions regarding, among other things: the incremental volumes anticipated as a result of the Agreement; the demand for RTD products; the Corporation's ability to perform its production obligations under the Agreement; the Corporation's ability to sell the RTD products produced in Alberta; the functionality of the Corporation's recently introduced high-speed, continuous-motion packaging equipment; the ability of the counterparty under the Agreement to perform and comply with its obligations thereunder, including with respect to its payment obligations.
Some of the risks which could affect future results and could cause results to differ materially from those expressed in the forward-looking information and statements contained herein include the risk factors set out in the Corporation's annual information form for the year ended December 30, 2023 which is available on SEDAR+ at www.sedarplus.ca and also include, but are not limited to the risk that the assumptions of Big Rock's management in respect of the Agreement, including, without limitation, the aforementioned assumptions, may not be correct.
Readers are cautioned that the foregoing list of assumptions and risk factors is not exhaustive. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking information and statements included in this press release are made as of the date hereof and Big Rock does not undertake any obligation to publicly update such forward-looking information and statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.
About Big Rock Brewery Inc.
In 1985, Ed McNally founded Big Rock to contest the time's beer trends. Three bold, European-inspired offerings – Bitter, Porter and Traditional Ale – forged an industry at a time heavy on easy drinking lagers and light on flavour. Today, our extensive portfolio of signature beers, ongoing seasonal offerings, six ciders (Rock Creek Cider® series) and custom-crafted private label products and other notable, licensed alcoholic beverages keeps us at the forefront of the craft beer revolution and still proudly contesting the beer and alcoholic beverage trends of today. With brewing operations in Calgary, Alberta, Vancouver, British Columbia, and Toronto, Ontario. Big Rock trades on the TSX under the symbol "BR". For more information on Big Rock Brewery visit www.bigrockbeer.com
SOURCE Big Rock Brewery Inc.
For further information, please contact: David Kinder, President & Chief Executive Officer, Phone: (403) 720-3239, Fax: (403) 720-3641, Email: [email protected]
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