Highlights
- Record orders in February, a 28% increase from highest historic
month
- Record new customers conversions in the month eclipsing the
previous high by 20%
- Order pipeline hits new high, growing 117%
month-over-month
- Management expectations met in February with can throughput of
16.5 million, a 75% month-over-month increase
- Commenced trading on the OTCQB® under the ticker:
WLDPF
- Initiated supplier review for the reduction leading to the
elimination of plastic in production
- Initiated a third-party review to track, benchmark and report
on Wildpack's ESG progress
- Wildpack now appears on the first page of Google search results
for 24 key search terms, ranking #1 for five keyword search
terms
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.
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SOURCE Wildpack Beverage Inc.
