VANCOUVER, BC, Jan. 10, 2022 /CNW/ - Wildpack Beverage
Inc. (TSXV: CANS) (OTC: WLDPF) ("Wildpack" or
the "Company") is pleased to announce key
guidance for the fiscal year 2022 and the appointment of
Kim Murray, BSc. to its Board of
Directors effective December 15,
2021.
Wildpack expects to meet the following key metrics in FY
2022:
- Revenue: USD$75 to $85M
- Aluminum Can Throughput: 300 million
Wildpack has not factored in any acquisitions and/or new builds
into its FY 2022 guidance. The guidance is solely modelled from the
continued scaling of the Company's existing 6 operating facilities
in accordance with Wildpack's strategic business plan. Wildpack
continues to work through its robust acquisition pipeline and build
on its industry database, targeting to increase its operations from
6 to 12 facilities in 2022. Due to timing uncertainty during the
year regarding acquisitions or additional builds, Wildpack will
revise its FY 2022 guidance upon addition of new facilities, as it
ramps up to 12 operating locations in 2022.
Wildpack intends to provide an update on monthly aluminum can
throughput following the close of each calendar month. This update
will be released by the 15th of each month, starting in
February 2022.
Mitch Barnard, CEO commented, "In
2021, we positioned Wildpack for a 2022 where we control our own
destiny. We funded and built capacity that when fully utilized will
return exceptional year-over-year revenue growth. Execution is now
the primary variable influencing our success. The team we have put
together has the drive, technical knowledge, experience, and
entrepreneurial spirit to achieve our goals. Our team's talent and
commitment are the key ingredients for execution success in
2022".
Kim Murray has been appointed as
a Board Director at Wildpack effective December 15, 2021 (See: Press Release dated
November 1, 2021). Kim is the founder
and former owner of Land and Sea Packaging in Grand Rapids, MI and has managed the business
since 2002. Kim joined Land and Sea after 17 years of service as a
registered nurse. Kim has earned her Bachelor of Science in
Chemistry and Bachelor of Science in Nursing from Michigan State University. Furthermore,
Tim Murray will participate through
the board as an observer, bringing 32 years of packaging
engineering, processes and supply chain management with General
Foods, Amway and Corium International before joining Land and Sea
for the last 3.5 years as the Chief Operating Officer. Tim has
earned his Bachelor of Science in Packaging from MSU. Both Kim and
Tim will both remain with Wildpack as employees.
Jeffrey Mason Chair of Wildpack said, "We are extremely excited
to have the entire employee team of Land and Sea join The Pack, and
importantly already see both Kim and Tim
Murray take an active role as we seamlessly transitioned
since our transaction in November
2021. The combined businesses are proving, as planned, to be
complementary by synergistically broadening our verticals across
containers, cartons, decorating, filling, packaging, and
full-service supply chain functions. The cultural fit and the
strong skilled employee team along with a customer-centric approach
is boding well to accomplish Wildpack's 2022 goals and drive
forward on our longer-range strategic business plan."
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 facilities in Baltimore, Maryland, Grand Rapids, Michigan, Atlanta, Georgia, Longmont, Colorado, Sacramento, California and Las Vegas, Nevada with a focus on digital
innovation and sustainable ready-to-drink packaging. Wildpack
commenced trading on May 19, 2021 on
the TSX Venture Exchange under the symbol "CANS.V".
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 and operating performance, 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, actual results of current production and
decorating, fluctuations in prices of aluminium; 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.