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.
