WILDPACK BEVERAGE INC - WLDPF STOCK NEWS

Wildpack Beverage Inc. (OTC Pink: WLDPF) has successfully closed a Bridge Loan of US$12.5 million from Sandton Capital Partners, aimed at supporting its growth in sales and production. This secured loan features a 13% interest rate and will mature in 12 months, with all accrued interest added to the principal. The funds will primarily be used for facility improvements and working capital. Additionally, Wildpack has entered into a term sheet for a potential Convertible Loan of US$25 million, convertible into 49% equity of the company, subject to regulatory approval. The previously considered Manna Loan for US$20 million has been terminated.

Wildpack Beverage Inc. (OTC PINK:WLDPF) announced a potential delay in filing its annual financial statements for the year ended December 31, 2022, due to a recent change of auditor. The company has yet to appoint a successor auditor, which is necessary for completing the financial audit. Should the Required Filings not be submitted by May 1, 2023, a management cease trade order (MCTO) may be imposed, although the company has applied for an MCTO with no guarantee of approval. Wildpack aims to file the Required Filings by June 30, 2023, and intends to comply with alternative information guidelines in the interim. The company confirms it is not facing insolvency and has no undisclosed material information.

Wildpack Beverage Inc. (OTC PINK:WLDPF) announced key developments regarding compensation and employee payments. The Board approved the issuance of 13,852,395 restricted share units (RSUs) to key employees and directors as part of its omnibus incentive plan, with vesting dependent on time and performance milestones. Additionally, the Company will settle USD 141,300 owed to employees through the issuance of 1,016,799 common shares at a deemed price of C$0.19 each, exempt from hold periods. Wildpack operates in the beverage manufacturing sector and seeks to expand its service offerings and market presence. The issuance of equity is subject to approval from the TSX Venture Exchange.

Wildpack Beverage Inc. (OTC PINK: WLDPF) reported impressive results for March 2023, achieving a confirmed customer order total of $8,036,791, indicating an annualized run rate of $96.44 million. The company recorded 288 sales orders and successfully converted 66 new customers. Total throughput reached 34,625,234 cans, with notable figures in filling and printed sleeve throughput at 3,084,405 and 4,974,798 respectively. Additionally, decoration throughput stood at 5,128,060 cans. Plant utilization improved to 40%, marking a 25% increase month-over-month. Wildpack's CEO, Mitch Barnard, emphasized the commitment to delivering quality and expanding their customer base.

Wildpack Beverage Inc. has announced a significant financing agreement through its subsidiary, Thirsty Cat, LLC, with Manna Capital Partners. The agreement involves a USD $20 million convertible term loan, which can convert into approximately 59% of the Borrower's equity, potentially increasing Manna's total equity to 65.77%. The loan is secured with a 12-month term at an interest rate of 8% per annum. The Lender also holds an option to acquire the remaining equity, necessitating shareholder approval. The deal aims to support Wildpack's growth and strengthen its position in the beverage industry, with closing expected by April 10, 2023.

Wildpack Beverage announced record-breaking results for February 2023. Confirmed customer orders reached $7,206,225, indicating an annualized run rate of $86.5 million. The company recorded 245 sales orders and converted 54 new customers. Total throughput was 28,019,901 cans, with significant figures in filling, decoration, and brokering throughput. Plant utilization improved to 32%, up 22% month-over-month. CEO Mitch Barnard expressed pride in these achievements and emphasized the focus on efficiency and continuous improvement. The momentum is expected to carry into March 2023.

Wildpack Beverage Inc. (OTCQB: WLDPF) announced legal action relating to the 2021 acquisition of Land and Sea Packaging. The company has filed lawsuits in Michigan against Kim and Tim Murray for misrepresentations connected to the acquisition and against Kim Murray in Vancouver for breach of fiduciary duties. In response, Kim Murray has also initiated legal proceedings claiming unpaid amounts under the acquisition terms. Wildpack has stated it will refrain from further comments on these ongoing legal matters unless advised by legal counsel.

Wildpack Beverage Inc. (OTCQB: WLDPF) reported strong results for January 2023, with confirmed customer orders totaling $5,274,213 and 237 confirmed sales orders. The company converted 49 new customers, underscoring its growth strategy. Production metrics included a total throughput of 23,000,662 cans and a 26% plant utilization rate. However, the company announced the resignation of board member Kim Murray and is in the process of changing auditors after the former auditor, KPMG LLP, could not reach an agreement. Wildpack remains committed to high-quality service and is optimistic about future growth.