Wildpack announces its 2021 year-end financial results

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Fourth Quarter Highlights:

  • Revenue for the quarter increased 32.8% to $6.64 million compared to $5.00 million in the previous year
  • Production volume for the quarter increased 191% to 26.5 million cans from 9.1 million cans in the prior year
  • Finalization of the acquisition of Land and Sea in Grand Rapids, Michigan
  • Finished 22 million Canadian dollars equity financing and 20 million Canadian dollars debt financing
  • Kim Murray appointed to the board of directors

Highlights of the exercise:

  • Turnover of the year of $28.3 million
  • Gross profit for the year of $1.6 million
  • Total facility footprint up 200%, opened and acquired a total of 4 new facilities
  • Added 2 new verticals: sleeve/label printing and packaging material brokerage
  • Commissioning and installation of the first printing production line and 2 additional decoration production lines
  • Exit 2021 with production yields over 90%
  • Key management and leadership additions: chuck zadlo appointed COO, appointed 2 new directors to the board and 1 new advisor to the board
  • Successfully listed on the TSX Venture Exchange
  • Completion of the equity financing of 36 million Canadian dollarsand debt financing of 40 million Canadian dollars

VANCOUVER, BC, May 3, 2022 /PRNewswire/ – Wildpack Beverages Inc. (TSXV: CANS) (OTCQB: WLDPF) (“wild pack“or the”Company“) announces audited financial results for the fiscal year ending December 31, 2021. All currencies referenced herein are US dollars unless otherwise specified. Reference to “C$” refers to Canadian dollars.

“2021 has been a fundamental year for Wildpack”, commented the CEO, Mitch Barnard. “Initially, we viewed Wildpack as a one-stop network of beverage co-packing facilities, solving key challenges facing mid-market beverage brands around supplier fragmentation, shipping costs, capacity manufacturing and access to aluminum cans. In 2021, we will take all the steps towards realizing this vision.”

Fourth Quarter and Full Year 2021 Financial Summary


Three months completed


Year ended

End of nine months


The 31st of December,

The 31st of December,


The 31st of December,

The 31st of December,


2021

2020


2021

2020








Total revenue


$6,643


$4,999



$28,281


$8,169

Total costs and expenses


$16,162


$6,524



$42,665


$11,677

Net loss before income taxes


-$9,516


-$1,525



-$14,384


-$3,508

Recovery of deferred taxes


-$237


-$25



-$685


-$41

Net loss


-$9,279


-$1,500



-$13,699


-$3,467

Outlook 2022

Wildpack expects total 2022 revenue to be $75-85 million and a throughput of 300 million cans and can equivalents. Beginning in fiscal year 2022, we will begin reporting brokerage volume separately.

Results Webcast

Wildpack will host a webcast today to discuss the financial results for the year ended December 31, 2021with the CEO, Mitch BarnardCFO, Ryan Masondirector of growth, Thomas Walkerand Chief Operating Officer, chuck zadlo.

Presentation details:

Date: May 32022
Weather: 8:30 a.m. ET (5:30 a.m. PT)
Registration: Online registration

HAVE QUESTIONS? Management will be available to answer your questions following the presentation on the webinar platform. You can submit your question(s) beforehand in the registration form or by email:[email protected].

This press release should be read in conjunction with the company’s audited consolidated financial statements and management’s discussion and analysis for the twelve month period ended December 31, 2021.

By: “Mitch Barnard”

Mitch Barnard
Chairman and Chief Executive Officer and Director

Advisors

Fasken Martineau DuMoulin LLP is legal counsel to Wildpack Beverage Inc.

Visit our website for investors at:

https://investor.wildpackbev.com

About Wildpack

Wildpack is engaged in beverage manufacturing and packaging, operating in the mid-market by providing sustainable filling, decorating, packaging and sleeve and label printing services to brands around the world. United States. Wildpack currently operates indirectly through its wholly owned subsidiaries and from facilities located 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 has started trading the May 19, 2021on the TSX Venture Exchange under the symbol “CANS” and began trading on February 23, 2022on the OTCQB® Venture Market under the symbol “WLDPF”.

Caution regarding forward-looking information

This press release may contain “forward-looking statements” within the meaning of applicable Canadian securities laws, including, but not limited to, statements regarding Wildpack’s plans, financial performance and operating performance, growth expected co-packing activities, revenue estimates, timing and objectives of M&A activity, costs, future capital expenditures and integration success. Forward-looking statements are based on a number of estimates and assumptions which, although considered reasonable by management, are inherently subject to significant business, economic and competitive risks, including, but not limited to: risks relating to the successful integration of acquisitions; operational risks; risks relating to general economic conditions and the availability of credit, the ability to obtain sufficient and suitable financing, the actual results of ongoing production and decoration, fluctuations in aluminum prices; failure of plant, equipment or processes to perform as intended; accidents, labor disputes, title disputes, claims and limitations of insurance coverage and other risks of the co-packing industry; delays in completing investment activities, changes in state and local government regulations of manufacturing operations and labor laws in light of the current COVID pandemic, tax rules and regulations, and political and economic developments where Wildpack operates. These statements can generally be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”. , “expects”, “believes”, or “continues”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause that future results, performance or achievements will be materially different from the estimated future results, performance or achievements expressed or implied by such forward-looking statements and forward-looking statements. 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 beyond Wildpack’s control, and undue reliance should not be to these statements. Although Wildpack has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause results not to be anticipated, estimated or planned. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties of Wildpack’s business, including that Wildpack’s assumptions in making the forward-looking statements may prove to be incorrect; delays in filing financial information; adverse market conditions; risks inherent in the beverage manufacturing and packaging industry generally; that future results may differ from historical results; and competition in the markets where Wildpack operates. Except as required by securities law, Wildpack undertakes no 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 the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Wildpack Beverage Inc.

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