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Wildpack Beverage Reports June 2023 and Announces Q4 2022 Financial Results

Monday, 17 July 2023 07:30 AM

Wildpack Beverage Inc


June 2023 Highlights (in USD):

  • Confirmed Customer Orders: $7,569,251.
  • Confirmed Sales Orders: 312.
  • New Customer Conversions: 25.
  • Total Throughput: 37,018,967 cans.
  • Decoration Throughput: 4,941,215 cans.
  • Filling Throughput: 3,428,587 cans.
  • Printed Sleeve Throughput: 5,437,226 sleeves.
  • Brokering Throughput: 23,211,939 cans.
  • Plant Utilization: 41%.

VANCOUVER, BC / ACCESSWIRE / July 17, 2023 / Wildpack Beverage Inc. (TSXV:CANS)(OTC PINK:WLDPF) ("Wildpack Beverage" or the "Company") a leading middle market co-packer of canned goods announced key performance indicators (all currency amounts in USD) for the month of June 2023. The Company reported confirmed sales orders amounting to $7,569,251, with confirmed sales orders reaching 312. The current 12-month run rate for customer confirmed orders is $90,831,012.

Wildpack Beverage Inc, Monday, July 17, 2023, Press release picture

June acted as a stabilizing period at recent record utilization levels; Wildpack Beverage's total throughput was 37,018,967 cans. The Company decorated 4,941,215 cans and filled 3,428,587 cans. Wildpack Beverage printed a record 5,437,226 sleeves and brokered 23,211,939 cans.

Wildpack Beverage Inc, Monday, July 17, 2023, Press release picture

Wildpack maintained peak utilization levels of 41% through several operational adversities including city water shutoffs, equipment failures, and vendor delays. Our ability to maintain stability in these circumstances is a testament to the strengthened operational infrastructure developed in the last twelve months and the functions that support it.

"We are proud to maintain peak levels of utilization in the face of events that would have resulted in significant performance declines historically," expressed Mitch Barnard, CEO of Wildpack Beverage. "This stress test provides the confidence our team needs to continue climbing utilization levels at an accelerated rate in the second half of the year."

Fourth Quarter 2022 Highlights:

  • Revenue for the quarter grew 47% to $9.76 million compared to $6.64 million in the prior year
  • Production volume for the quarter grew 138% to 63.1 million cans compared to 26.5 million cans the prior year
  • Las Vegas Facility was certified through the Safe Quality Food Program
  • Completed US$1 Non-Brokered Private Placement
  • Announced strategic partnerships with Woodstream and EHPlabs

Fiscal Year 2022 Highlights:

  • Revenue for the year of $35.4 million
  • Total Production Volume of 202.4 million units
  • Supply agreement with Ball Corporation
  • Exit 2022 fiscal year with a 12-month forward run rate for Customer Confirmed Orders of US$70.5 million
  • Exit 2022 fiscal year with a 12-month forward run rate for Total Throughput of 260.8 million cans.

Three months ended Year ended

December 31, December 31, December 31, December 31,

2022 2021

Total sales
$9,763 $6,643 $35,374 $28,281
Total costs and expenses
$30,578 $18,903 $72,019 $46,347
Net loss before income taxes
$-20,815 $-12,260 $-36,645 $-18,066
Deferred income tax recovery
- - - $685
Net Loss
$-20,815 $-12,260 $-36,645 $-17,381

First Quarter 2023 Earnings Call

Wildpack Beverage also announces that it expects to release financial results for the first quarter ended March 31, 2022, after the market closes on July 21, 2023. Wildpack Beverage will host a webcast to discuss financial results for the quarter and previously announced 2022 Fiscal Year results, with CEO, Mitch Barnard, CFO, Ryan Mason, and CGO, Thomas Walker. You can register for the webinar below.

Presentation Details:

Date: July 24, 2023

Time: 5pm EDT (2pm PST)

Registration: Online Registration

HAVE QUESTIONS? Management will be available to answer your questions following the presentation on the webinar platform. You may submit your question(s) beforehand in the registration form or by email: [email protected].

Per: "Mitch Barnard"
Mitch Barnard

Chief Executive Officer and Director

For further information, please contact us at:

[email protected]


Elijah Clare
Vice President, Investor Relations
[email protected]


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

Visit our investor website at:

About Wildpack Beverage

Wildpack Beverage 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 Beverage 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 Beverage 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 timing, review, completion and filing of the Required Filings, Wildpack Beverage'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: the risk of the Company not filing the Required Filings on time, 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 Beverage 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 the actual results, performance, or achievements of Wildpack Beverage to be materially different from any future results, performance, or achievements expressed, 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 Beverage are subject to a number of risks, uncertainties, and conditions, many of which are outside of Wildpack Beverage's control, and undue reliance should not be placed on such statements. Although Wildpack Beverage 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 Beverage'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 Beverage operates. Except as required by securities law, Wildpack Beverage 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

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