Wildpack Provides Update Regarding Proposed Restructuring Transaction
Wildpack Beverage (TSXV:CANS, OTC:WLDPF) provided an update on its proposed debenture restructuring transaction regarding $45,007,000 in outstanding 8.00% convertible unsecured subordinated debentures. The company is securing Other Sources Loans totaling $2,000,000 to partially fund the Debenture Repurchase.
The company has already secured commitments of $1,730,000 and is working to secure the remaining $270,000. These loans will bear 15% annual interest, increasing to 20% after 120 days, and can be prepaid without penalty. The loans will be secured against the Repurchased Debentures until cancellation.
The closing of the Other Sources Loans and Debenture Repurchase is pending the full $2,000,000 commitment and TSXV approval. The cancellation of Repurchased Debentures, Shares for Debt Settlement, and Delisting will follow the Rights Offering record date.
Wildpack Beverage (TSXV:CANS, OTC:WLDPF) ha fornito un aggiornamento sulla sua proposta di ristrutturazione delle obbligazioni riguardanti 45.007.000 dollari in obbligazioni convertibili non garantite subordinate al 8,00%. L'azienda sta assicurando Prestiti da Altre Fonti per un totale di 2.000.000 dollari per finanziare parzialmente il riacquisto delle obbligazioni.
L'azienda ha già ottenuto impegni per 1.730.000 dollari ed è al lavoro per garantire i restanti 270.000 dollari. Questi prestiti avranno un tasso d'interesse annuale del 15%, che aumenterà al 20% dopo 120 giorni, e possono essere rimborsati anticipatamente senza penalità. I prestiti saranno garantiti dalle obbligazioni riacquistate fino alla loro cancellazione.
La conclusione dei Prestiti da Altre Fonti e del Riacquisto delle Obbligazioni è in attesa del completo impegno di 2.000.000 dollari e dell'approvazione da parte del TSXV. La cancellazione delle Obbligazioni riacquistate, l'Emissione di Azioni per la Risoluzione del Debito e la Cancellazione dalla Quotazione seguiranno la data di registrazione dell'Offerta di Diritti.
Wildpack Beverage (TSXV:CANS, OTC:WLDPF) proporcionó una actualización sobre su propuesta de reestructuración de deuda relacionada con $45,007,000 en obligaciones convertibles subordinadas no garantizadas al 8.00%. La empresa está asegurando Préstamos de Otras Fuentes por un total de $2,000,000 para financiar parcialmente la recompra de las obligaciones.
La compañía ya ha asegurado compromisos por $1,730,000 y está trabajando para asegurar los restantes $270,000. Estos préstamos tendrán un interés anual del 15%, aumentando al 20% después de 120 días, y pueden ser pagados anticipadamente sin penalización. Los préstamos estarán garantizados por las obligaciones recompradas hasta su cancelación.
El cierre de los Préstamos de Otras Fuentes y la Recompra de Obligaciones está pendiente del compromiso total de $2,000,000 y de la aprobación del TSXV. La cancelación de las Obligaciones recompradas, las Acciones para la Liquidación de Deudas y la Deslistación seguirán a la fecha de registro de la Oferta de Derechos.
Wildpack Beverage (TSXV:CANS, OTC:WLDPF)는 4,500만 7천 달러의 8.00% 전환비보장 후순위 사채와 관련된 제안된 사채 재구성 거래에 대한 업데이트를 제공했습니다. 이 회사는 사채 매입을 부분적으로 자금 지원하기 위해 총 200만 달러의 기타 출처 대출을 확보하고 있습니다.
회사는 이미 173만 달러의 약정을 확보했으며 나머지 27만 달러를 확보하기 위해 노력하고 있습니다. 이 대출은 연 15%의 이자를 부과하며, 120일 후에 20%로 증가할 수 있으며, 벌금 없이 조기 상환될 수 있습니다. 대출은 취소될 때까지 재매입된 사채에 대해 담보가 설정됩니다.
기타 출처 대출 및 사채 매입의 마감은 200만 달러의 전체 약정 및 TSXV 승인을 기다리고 있습니다. 재매입된 사채의 취소, 채무 정산을 위한 주식 발행 및 상장 폐지는 권리 제공 기록일 이후에 진행됩니다.
Wildpack Beverage (TSXV:CANS, OTC:WLDPF) a fourni une mise à jour concernant sa proposition de restructuration d'obligations portant sur 45 007 000 $ d'obligations convertibles subordonnées non garanties à 8,00 %. L'entreprise sécurise Des Prêts d'Autres Sources totalisant 2 000 000 $ pour financer partiellement le rachat d'obligations.
L'entreprise a déjà sécurisé des engagements d'un montant de 1 730 000 $ et travaille à sécuriser les 270 000 $ restants. Ces prêts porteront un intérêt annuel de 15 %, augmentant à 20 % après 120 jours, et peuvent être remboursés par anticipation sans pénalité. Les prêts seront garantis par les obligations rachetées jusqu'à leur annulation.
La clôture des Prêts d'Autres Sources et du Rachat d'Obligations est en attente de l'engagement total de 2 000 000 $ et de l'approbation du TSXV. L'annulation des Obligations rachetées, l'Émission d'Actions pour le Règlement de Dettes et la Radiation suivront la date d'enregistrement de l'Offre de Droits.
Wildpack Beverage (TSXV:CANS, OTC:WLDPF) hat ein Update zu seiner vorgeschlagenen Umstrukturierung der Anleihen in Höhe von 45.007.000 Dollar in ausstehenden 8,00% wandelbaren ungesicherten nachrangigen Anleihen gegeben. Das Unternehmen sichert sich Sonstige Quellen Darlehen in Höhe von insgesamt 2.000.000 Dollar, um den Anleiherückkauf teilweise zu finanzieren.
Das Unternehmen hat bereits Verpflichtungen in Höhe von 1.730.000 Dollar gesichert und arbeitet daran, die verbleibenden 270.000 Dollar zu sichern. Diese Darlehen werden mit 15% Jahreszinsen belastet, die nach 120 Tagen auf 20% steigen, und können ohne Strafe vorzeitig zurückgezahlt werden. Die Darlehen werden bis zur Stornierung durch die zurückgekauften Anleihen gesichert.
Der Abschluss der Sonstige Quellen Darlehen und des Anleiherückkaufs steht noch aus, da das vollständige Commitment von 2.000.000 Dollar sowie die Genehmigung des TSXV erforderlich sind. Die Stornierung der zurückgekauften Anleihen, die Aktien zur Schuldenregulierung und die Delisting-Maßnahmen folgen nach dem Stichtag des Bezugsrechtsangebots.
- Secured $1,730,000 of the $2,000,000 needed for debenture restructuring
- Loans can be prepaid without penalty
- High interest rate of 15-20% on Other Sources Loans
- Still needs to secure remaining $270,000
- Pending delisting from exchange
VANCOUVER, BC / ACCESSWIRE / January 9, 2025 / Wildpack Beverage Inc. (TSXV:CANS)(OTC PINK:WLDPF)("Wildpack" or the"Company") a leading middle market co-packer of canned goods, announces, further to its press releases dated July 5, 2024 and October 8, 2024 (the "Previous Releases"), an update regarding the Company's proposed restructuring transaction (the "Debenture Restructuring Transaction") with respect to its outstanding
The Company provides an update below regarding the Other Sources Loan (as defined below).
For additional information regarding the Debenture Restructuring Transaction, please refer to the Previous Releases. Except for any disclosures contained in this news release to the contrary, the information contained in the Previous Releases remains accurate. Capitalized terms not otherwise defined herein have the meanings ascribed thereto in the Previous Releases.
Other Sources Loan
The Company is in the process of obtaining loans totaling
The Company has secured commitments in the aggregate amount of
Closing
The Other Sources Loans and Debenture Repurchase are expected to close once the Company has secured Other Sources Loans in the amount of
Cancellation of the Repurchased Debentures, the Shares for Debt Settlement and the Delisting are expected to occur following the record date for the Rights Offering and are subject to final approval of the TSXV.
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 customers throughout the United States. Wildpack currently operates indirectly through its wholly owned subsidiaries and out of four facilities in Baltimore, Maryland; Grand Rapids, Michigan; Austin, Texas, 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 the Debenture Restructuring Transaction and the associated transactions to be completed in connection therewith. 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 obtaining regulatory approval of the Debenture Restructuring Transaction and the associated transactions to be completed in connection therewith. 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 and that Wildpack will not obtain regulatory approval of the Debenture Restructuring Transaction and the associated transactions to be completed in connection therewith. 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 the original press release on accesswire.com
FAQ
What is the total amount of Wildpack's (WLDPF) outstanding convertible debentures being restructured?
What is the interest rate on Wildpack's (WLDPF) Other Sources Loans?
How much funding has Wildpack (WLDPF) secured for the Other Sources Loans as of January 2025?
What happens to the Repurchased Debentures after Wildpack's (WLDPF) restructuring?
