Wildpack Achieves Record Monthly Orders in March, a 19% Improvement Over Best Month
Highlights
- Record orders in March, a 19% increase from highest historic month
- New record for new customers conversions
- Record label & sleeve printing, growing 22% month-over-month
- Management expectations met in April with can throughput of 19 million, a 15% month-over-month increase
- Welcomed Orlando Hopper as new Director of Operations in Baltimore
- Wildpack appears on the first page of Google search results for 4 additional key search terms, had a record month for inbound leads and traffic to the main website
- Completed $5 million debenture raise
VANCOUVER, BC, April 12, 2022 /CNW/ - Wildpack Beverage Inc. (TSXV: CANS) (OTCQB: WLDPF) ("Wildpack") is pleased to provide an update on our on-going corporate initiatives for March.
"We are excited about the progress in our technology, plant operation and sales," commented CEO, Mitch Barnard. "We continue to see customers graduating across verticals, validating the benefit a single one-stop solution has to beverage brands as they can come to use for all manufacturing needs."
March can throughput was 19 million, a 15% 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 third consecutive month, orders eclipsed the previous monthly high. The new high of 146 orders represented a 19% increase. New customers conversion reached a historical high of 31, a 3% increase over the previous monthly high.
Wildpack's Operations Team was bolstered by the addition of Orlando Hopper, Director of Operations to the Baltimore facility. Orlando brings 15 years of operations leadership, with a packing focus. Wildpack's Las Vegas label and sleeve printing operations had a 22% improvement month-over-month to 1.33 million units, including a single day production record of 88,000 units. The final installment to maximize capacity of current printers was installed and tested in March. Filling yields were 91% and decorating yield were 99%, both improvements over the previous month.
Wildpack's Marketing team continue to deploy our search engine optimization ("SEO") strategy. Wildpack ranks for an additional 10 keywords, with 4 additional words ranking on Google's first page, bringing the totals to 115 and 28 respectively. Wildpack's main website have seen record inbound leads, with 50% week-over-week ("WoW") increase on a WoW increase of 28% of traffic. Wildpack's social media accounts saw an increase of reach on Instagram of 948%, Instagram profile visits are up 53%, LinkedIn reach is up 43%, LinkedIn visits up 53% and LinkedIn link clicks up 99% in the month.
Wildpack completed a $5 million debenture raise, each Offered Debenture Unit consists of: (i) a principal amount 8% convertible unsecured debenture (the "Convertible Debentures") convertible into common shares of the Company at a conversion price of $1.00 per common share and maturing four years from the closing of the Offering (the "Maturity Date"); and (ii) 500 common share purchase warrants (the "Warrants"), with each Warrant entitling the holder thereof to acquire one common share of the Company at $1.50 per share for a period of two years ending March 31, 2024.
Wildpack is pleased to announce that it expects to release year-end financial results ended December 31, 2021, after market closes on May 2, 2022. CEO, Mitch Barnard, will be joined by Chief Growth Office, Thomas Walker, CFO, Ryan Mason and COO, Chuck Zadlo for a presentation that includes milestones and accomplishments from 2021, and provide an outlook for 2022.
Presentation Details:
Date: May 2, 2022
Time: 5pm ET (2pm PT)
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
Fasken Martineau DuMoulin LLP is the legal advisor to Wildpack Beverage Inc.
Visit our investor website at:
Investor Relations - Wildpack Beverages Inc.
Wildpack is engaged in beverage manufacturing and packaging, operating in the middle market by providing sustainable aluminum can filling, decorating, packaging, and sleeve and label printing 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" and commenced trading on February 23, 2022, on the OTCQB® Venture Market under the symbol "WLDPF".
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.
[email protected] or Elijah Clare, Vice President, Investor Relations, [email protected]
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