Wildpack Achieves Impressive Monthly Records in March 2023 Corporate Update

Rhea-AI Summary

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.

Positive

• Confirmed customer orders reached $8,036,791, annualized run rate of $96.44 million.
• 288 confirmed sales orders indicate strong demand.
• 66 new customer conversions reflect effective customer acquisition.
• Total throughput of 34,625,234 cans demonstrates operational capacity.
• Plant utilization increased to 40%, up 25% month-over-month.

Negative

• None.

March 2023 Highlights (in USD):

• Confirmed Customer Orders: $8,036,791 (annualized run rate of $96.44 million).
• Confirmed Sales Orders: 288.
• New Customer Conversions: 66.
• Total Throughput: 34,625,234 cans.
• Decoration Throughput: 5,128,060 cans.
• Filling Throughput: 3,084,405 cans.
• Printed Sleeve Throughput: 4,974,798 sleeves.
• Brokering Throughput: 21,437,971 cans.
• Plant Utilization: 40%, up 25% month over month.

VANCOUVER, BC / ACCESSWIRE / April 10, 2023 / Wildpack Beverage Inc. (TSXV:CANS)(OTC PINK:WLDPF) ("Wildpack" or the "Company") a leading middle market co-packer of canned goods announces outstanding March 2023 results as the Company continues to deliver exceptional quality and service to its expanding customers.

In March 2023, Wildpack achieved several new monthly records. Confirmed customer orders reached an impressive $8,036,791, while confirmed sales orders reached 288. The Company also successfully converted 66 new customers during the month, demonstrating its ability to attract and retain new business.

Total throughput for the month was 34,625,234 cans, including filling throughput of 3,084,405 cans and printed sleeve throughput of 4,974,798 sleeves. The Company also brokered an impressive 21,437,971 cans, further demonstrating its ability to meet the needs of its customers across all integrated verticals. Although decoration throughput did not reach a new monthly record, it was still impressive, with a total of 5,128,060 cans decorated to the Company's high standards.

Wildpack's plant utilization increased to 40% in March, up 25% from the previous month, reflecting the Company's commitment to efficiency and quality.

"Our record-breaking March results are testament to the hard work and dedication of our entire team," said Wildpack's CEO, Mitch Barnard. "We remain focused on delivering exceptional quality and service to our expanding customer base while driving growth for our business, as we power into the upcoming seasonal high months for our business."

Per: "Mitch Barnard"

Mitch Barnard

Chief Executive Officer and Director

For further information, please contact us at:
invest@wildpackbev.com

or

Elijah Clare
Vice President, Investor Relations
elijah@wildpackbev.com

Advisors

Fasken Martineau DuMoulin LLP is the legal advisor to Wildpack Beverage Inc.

Visit our investor website at:

https://investor.wildpackbev.com

About Wildpack

Wildpack provides beverage manufacturing and packaging to the middle market by providing sustainable aluminum can filling, decorating, packaging, brokering, sleeve/label printing services, and logistics to brands throughout the United States. Wildpack currently operates indirectly through its wholly owned subsidiaries and out of six 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 the TSX Venture Exchange under the symbol "CANS" on May 19, 2021.

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, investments, anticipated revenue from manufacturing agreements, plans to build additional facilities, 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 scaling up production. 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 particularly in light of the 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.

SOURCE: Wildpack Beverage Inc.

View source version on accesswire.com:
https://www.accesswire.com/748248/Wildpack-Achieves-Impressive-Monthly-Records-in-March-2023-Corporate-Update

FAQ

What were Wildpack Beverage's confirmed orders in March 2023?

Wildpack Beverage reported confirmed customer orders of $8,036,791 in March 2023.

How many new customers did Wildpack convert in March 2023?

Wildpack converted 66 new customers in March 2023.

What was the total throughput for Wildpack in March 2023?

The total throughput for Wildpack in March 2023 was 34,625,234 cans.

What is the stock symbol for Wildpack Beverage?

Wildpack Beverage is traded under the stock symbol WLDPF.

What was the increase in plant utilization for Wildpack in March 2023?

Wildpack's plant utilization increased to 40%, a rise of 25% from the previous month.