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."
Operations Update
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.
Upcoming Events
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: invest@wildpackbev.com.
Per: "Mitch Barnard"
Mitch Barnard
Chief Executive Officer and Director
Advisors
Fasken Martineau DuMoulin LLP is the legal advisor to Wildpack
Beverage Inc.
Visit our investor website at:
Investor Relations - Wildpack Beverages 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".
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.