Wildpack Announces Litigation
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 is actively seeking legal recourse regarding misrepresentations from the acquisition.
- Ongoing lawsuits may divert management's attention and resources.
- Legal disputes could lead to potential financial liabilities.
VANCOUVER, BC / ACCESSWIRE / February 28, 2023 / Wildpack Beverage Inc. (TSXV:CANS)(OTCQB:WLDPF) ("Wildpack" or the "Company") a middle market co-packer of canned goods, announces that Wildpack Holdings US Inc., a wholly owned subsidiary of Wildpack, has filed a lawsuit in the State of Michigan against Ms. Kim Murray and Mr. Tim Murray arising from misrepresentations in connection with the acquisition of Land and Sea Packaging in 2021 (the "Acquisition") and their employment thereafter. Further, the Company has filed a lawsuit in Vancouver, BC against Ms. Kim Murray, a former Board Director, for breach of fiduciary duties. Wildpack is seeking various relief in each action. Ms. Murray has filed suit against the Company alleging certain amounts are owed under the terms of the Acquisition (the amounts are accrued on the Company's books). As the matters are now before the Courts, Wildpack does not intend to make additional comments on these lawsuits unless otherwise determined to be appropriate by its legal counsel.
Per: "Mitch Barnard"
Mitch Barnard
Chief Executive Officer and Director
For further information, please contact us at:
or
Elijah Clare
Vice President, Investor Relations
elijah@wildpackbev.com
Visit our investor website at:
https://investor.wildpackbev.com
About Wildpack
Wildpack is engaged in canned goods manufacturing and packaging operating in 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, and on the OTCQB® Venture Market under the symbol "WLDPF" on February 23, 2022.
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/741139/Wildpack-Announces-Litigation
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