Wildpack Announces 2022 Financial Guidance and Appoints Kim Murray to the Board of Directors
Wildpack Beverage Inc. (OTC: WLDPF) announced its fiscal year 2022 guidance, projecting revenues between USD$75M and $85M with aluminum can throughput of 300 million. The guidance is based solely on scaling its existing six facilities, with plans to expand to twelve during 2022. Additionally, Kim Murray has been appointed to the Board effective December 15, 2021. CEO Mitch Barnard emphasized execution as a key factor for success, while the integration of Land and Sea’s experienced team is expected to enhance operational capabilities.
- Projected revenue between USD$75M and $85M for FY 2022.
- Expected throughput of 300 million aluminum cans.
- Plans to expand operations from 6 to 12 facilities, indicating growth potential.
- Appointment of experienced board member Kim Murray could strengthen leadership.
- Guidance does not factor in potential impacts from acquisitions, which may introduce uncertainty.
- Execution risk highlighted by CEO could denote potential operational challenges.
VANCOUVER, BC, Jan. 10, 2022 /PRNewswire/ - 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.
FAQ
What is Wildpack's revenue guidance for FY 2022?
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