Highlights
VANCOUVER, BC, March 7, 2022 /CNW/ - Wildpack Beverage Inc. (TSXV: CANS) (OTCQB: WLDPF) ("Wildpack") is pleased to provide an update on our on-going corporate initiatives for February.
"Persistent ramp up in performance at Wildpack, together with upgrades in manufacturing processes, and our talented team boosted Wildpack to broad improvements in February," said Mitch Barnard, Chief Executive Officer. "Building an enduring competitive advantage for Wildpack has driven our pursuit of a technology centric one-stop network of facilities, this month's achievements validate the strategy and illustrates the growing demand for a solution that provides middle market beverage brands with economies of scale and an environmentally sustainable format."
Operations Update
February can throughput was 16.5 million, a 75% month-over-month increase. Our monthly throughput results, including cans and can equivalents, continue to meet management's planned ramp-up utilization to achieve 300 million cans of throughput in 2022. Wildpack's sales division realized new records for orders and new customers. For the second consecutive month, orders eclipsed the previous monthly high. The new high of 123 orders represented a 28% increase. New customers conversion reached a historical high of 30, a 20% increase over the previous monthly high. Wildpack's order pipeline saw month-over-month growth of 117% and our newly developed digital marketing strategy is yielding better-than-anticipated yields, making Wildpack easier to find and on-board potential customers.
Wildpack completed factory acceptance testing of two COMAC CFT 20 valve counter pressure fillers. They are to be retrofitted, with no scheduled production disruption, at our Baltimore and Las Vegas locations. The new fillers will improve quality assurance, yield, and production output of filling lines in both locations. Additional equipment to be purchased as part of our production improvements will double the capacity of our current filling lines.
Wildpack's Las Vegas label and sleeve printing operations had record weekly commercial output during the month, and we anticipate full capacity in the second quarter of 2022. Reduced lead times, cost savings and customer demand validate the vertical integration under one roof of all the components of beverage manufacturing.
Wildpack's Marketing team has integrated a robust search engine optimization ("SEO") strategy. Wildpack now ranks for 105 keywords, 24 of them on the first page, and ranks #1 for five keyword search terms. As recently as three months ago, Wildpack appeared in only 16 keyword searches, none of which were on the first page.
US Exchange Trading
Aligning with our U.S. based operations and growing U.S. investor base, Wildpack commenced trading in the United States on the OTCQB® Venture Market (the "OTCQB") on February 21, 2022, under the symbol "WLDPF". Wildpack continues to trade in Canada on the TSX Venture Exchange under the symbol "CANS.V". Wildpack announced the implementation of a Normal Course Issuer Bid ("NCIB") on February 28, 2022. Wildpack believes, from time to time, the market price of the Shares may not fully reflect the underlying value of its business and its future prospects. The NCIB is a tool to enhance shareholder value.
Upcoming Events
Wildpack is pleased to announce that Mitch Barnard, CEO, will be presenting at the 34th Annual ROTH Growth Conference being held in Dana Point, California on March 13-15, 2022.
Presentation Details:
Date: March 15, 2022
Time: 11am PT (2pm ET)
The conference will feature one-on-one discussions, small group meetings, analyst-selected fireside chats, thematic industry panels, and on-demand presentations by executive management from approximately 400 private and public companies in a variety of growth sectors including: Blockchain/Cryptocurrency, Business Services, Consumer Health & Wellness, Healthcare, Resources: Oil & Gas, Meals & Mining, Technology & Media and Sustainability/ESG.
Wildpack Co-Founder and CEO, Mitch Barnard will present and participate in one-on-one meetings with investors and analysts during the conference. He will be joined by Co-Founder and Chief Growth Officer, Thomas Walker, Co-founder and CFO, Ryan Mason and VP, Investor Relations, Elijah Clare. A copy of the investor presentation is available here.
To submit a registration request, click here. To schedule a one-on-one meeting with Wildpack, please contact your ROTH representative.
Wildpack expects to release financial results for the 2021 fiscal year ended December 31, 2021, after market closes on, or about, April 28, 2022. We will host a live webinar in which CEO, Mitch Barnard, CFO, Ryan Mason, CGO, Thomas Walker and COO, Chuck Zadlo will deliver the results, an overview of operations across all business lines, the outlook for Wildpack and answer questions live.
Presentation Details:
Date: April 28, 2022
Time: 5 pm ET (2 pm PT)
Registration: Link will be provided in the future.
Environmental Sustainability Update
Sustainability is central to Wildpack's core strategy. Wildpack has already announced it will be removing plastic from its operations and transitioning to renewal energy. (See: Press Release dated February 17, 2022). Building on that strategy, Wildpack will also be initiating a review of suppliers to identify alternatives to all plastic utilized in the production process. It has engaged a review of three third-party providers for Environment, Social, and Governance ("ESG") tracking, benchmarking, and reporting as part of its commitment to transparency and ESG.
Per: "Mitch Barnard"
Mitch Barnard
Chief Executive Officer and Director
Advisors
Stifel GMP is financial advisor to Wildpack Beverage Inc., Fasken Martineau DuMoulin LLP is its legal advisor.
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, and brokering services to brands throughout the United States. Wildpack currently operates indirectly through its wholly owned subsidiaries and out of 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 May 19, 2021, on the TSX Venture Exchange under the symbol "CANS.V" and commenced trading on February 23, 2022, on the OTCQB® Venture Market under the symbol "WLDPF".
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, 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 integration. 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 in light of the current 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.
please contact us at: [email protected] or Elijah Clare, Vice President, Investor Relations, [email protected]
Share this article