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Wildpack Beverage Inc. (WLDPF) is a leading middle market co-packer in the US specializing in canned goods manufacturing and packaging. The company recently announced the closing of an amendment to its term loan with Sandton Capital Solutions Master Fund V, LP, providing an additional loan tranche of US$5,000,000. This loan will enhance liquidity to support operations and work towards achieving cash flow positive operations. Wildpack operates out of six facilities in the US, offering sustainable aluminum can filling, decorating, packaging, brokering, and logistics services to brands nationwide.
Wildpack Beverage (OTCQB: WLDPF) successfully held its annual general meeting on January 26, 2023, with 54,944,241 common shares (49.48% of outstanding shares) represented. Major decisions included the election of eight directors, approval of the new Omnibus Incentive Plan, and the appointment of KPMG LLP as auditors. All director nominees received significant support, with votes ranging from 87.12% to 99.57% in favor. This reflects strong shareholder engagement and confidence in Wildpack's strategic direction and governance.
Wildpack Beverage Inc. (OTCQB: WLDPF) has announced the successful completion of its vertical short form amalgamation with its subsidiary, Wildpack Beverage Alberta Inc., effective January 1, 2023. This strategic move consolidates the corporate structure, aiming to streamline operations and reduce costs. Wildpack expresses gratitude to its stakeholders for their support and is focused on delivering high-quality products and services while driving future growth. The company operates multiple facilities across the U.S., specializing in sustainable aluminum can packaging.
Wildpack Beverage Inc. (OTCQB:WLDPF) announced record results for November 2022, achieving confirmed customer orders of $5,874,535 and total throughput of 21,728,174 cans. Notable metrics include filling throughput of 2,223,805 cans and a 37% month-over-month increase in plant utilization to 26%. The company converted 46 new customers, reflecting strong sales growth and operational improvements. CEO Mitch Barnard highlighted these results as indicators of Wildpack's enhanced market position and commitment to sustainability.
Wildpack Beverage Inc. (OTCQB: WLDPF) reported a 16% increase in Q3 sales to $8.17 million compared to Q3 2021. Production volume surged 76% to 43.73 million cans. For the first nine months of 2022, sales revenue rose 18% to $25.61 million. Upgrades at the Las Vegas facility constrained production, while expansion in the printing division added new capabilities. Wildpack signed a significant supply contract with Ball Corporation, improving domestic can supply, and secured a large contract with EHPlabs for future services.
Wildpack Beverage Inc. (OTCQB: WLDPF) announced record sales in October 2022, marking the second consecutive month of record-breaking performance in total sales and new customer conversions. The company achieved a throughput of 17.4 million cans and announced partnerships with EHP Labs and Woodstream. Production commenced at the new Las Vegas facility using the Comac CFT rotary filler, enhancing operational capacity. A Q3 earnings webinar is scheduled for November 29, 2022, with results expected after market close.
Wildpack Beverage Inc. has secured a two-year contract with EHPlabs to produce its flagship product, OxyShred, for US distribution, committing to 30 million cans in 2023 and 40 million in 2024. The agreement involves can decoration, filling, and ingredient procurement. Additionally, Izhar Basha, CEO of EHPlabs, will invest US$1 million in Wildpack and join its Board of Directors, pending approvals. This partnership is seen as a strategic win, enhancing Wildpack's market position in beverage manufacturing.
Wildpack Beverage Inc. (OTCQB: WLDPF) reported record monthly sales and new customer conversions in September 2022, achieving the best sales month since inception with 15.6 million equivalent 12-ounce can throughput. The company also announced Safe Food Quality Certification for its Las Vegas facility, scoring above 90. A new Comac CFT rotary filler has been installed, increasing batching capacity to 20,000 gallons per day. These advancements highlight Wildpack's commitment to quality and operational efficiency, with a focus on growing customer demands.
Wildpack Beverage has secured a US$5 million senior secured revolving credit facility with TAB Bank. The financing aims to bolster its balance sheet and enhance operational flexibility, allowing for profit-focused growth. Wildpack's August operations report indicates a throughput of 18.9 million cans, with significant month-over-month increases in can brokering (5%) and tertiary packaging sales (11%). The facility permits interest-only payments at a rate of SOFR + 4.85% and will be used mainly for working capital.
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