Wildpack Announces Non-Brokered Private Placement of up to $2,500,000

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

VANCOUVER, BC, March 22, 2022 /CNW/ - Wildpack Beverage Inc. (TSXV: CANS) (OTC: WLDPF) ("Wildpack" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement of up to 2500 convertible debenture units of the Company (the "Offered Debenture Units") at a price of C$1,000 per Offered Debenture Unit (the "Issue Price") for aggregate gross proceeds to Wildpack of approximately C$2,500,000 (the "Offering"). The Company will no longer be pursuing the brokered convertible debenture financing announced on March 21, 2022.

Each Debenture Unit will consist of (i) one 8% senior unsecured convertible debenture having a face value of $1,000, which is convertible into common shares of the Company (each a "Common Share") at a conversion price of $1.00 per Common Share (the "Conversion Price") and matures four years from the Closing Date (as defined below) (the "Convertible Debentures"); and (ii) 500 common share purchase warrants of the Company (the "Warrants" and, together with the Convertible Debentures, the "Underlying Securities"). Each Warrant entitles the holder thereof to purchase one Common Share at $1.50 per share for a period of two years following the Closing Date.

At any time and from time to time following the expiry of 36 months after the Closing Date, the Company may, at its option, redeem pro rata all or part of the Convertible Debentures, upon not less than 30 nor more than 60 days' prior written notice, at a redemption price which is equal to 110% of the principal amount thereof, plus any accrued and unpaid interest that would otherwise be payable to the holder from the time of the optional redemption until the Maturity Date.

The Company may force the conversion of all but not less than all of the principal amount of the then outstanding Convertible Debentures at the Conversion Price if the volume weighted average trading price of the Common Shares on the TSX Venture Exchange Inc. (the "TSXV") is greater than $1.50 for the preceding 10 consecutive trading days. Holders having their Convertible Debentures converted will receive accrued and unpaid interest thereon in cash.

The closing of the Offering is expected to occur on or about March 30, 2022 (the "Closing Date")  and is subject to the approval of the TSXV and other necessary regulatory approvals.

The net proceeds from the Offering will be used to fund the acquisition of strategic canning-related businesses located in the United States, capital expenditures associated with such acquisitions, and for general working capital purposes.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

WILDPACK BEVERAGE INC.

Per:     "Mitch Barnard"
Mitch Barnard
Chief Executive Officer and Director

Advisors

Fasken Martineau DuMoulin LLP is the legal advisor to Wildpack Beverage Inc.

About Wildpack

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".

Forward-Looking Statements

This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws, including, without limitation: our statements related to closing of the Offering and the use of proceeds of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. 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. Wildpack's statements expressed or implied by these forward-looking statements 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. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Offering, including: that Wildpack's assumptions in making forward-looking statements may prove to be incorrect; 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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Wildpack Beverage Inc.

please contact us at: [email protected], 306 203 9791 or Visit our investor website at: www.investor.wildpackbev.com