- New record for orders per month with an increase of 9.1% compared to the highest historical month
- Order pipeline grew 23.3% month-over-month
- January may debit 9.4Mmeeting management expectations
- Completed commercial printing operations
- Internal technology development team set up to drive technology initiatives forward
- Four key executive hires to continue to strengthen our operations and legal departments
- New charges for Baltimore and Vegas are on schedule for installation Q2
- Launch of a plastic-free initiative to be achieved by 2024
- Launch of an initiative on renewable resources to be achieved by 2025
- Launched a mobile and web application development project for customer supply chain and manufacturing visibility
VANCOUVER, BC, February 17, 2022 /PRNewswire/ – Wildpack Beverages Inc. (TSXV: CANS) (OTC: WLDPF) (“wild pack“) is pleased to provide an update on the progress of our corporate initiatives.
“I am pleased with the cross-divisional achievement of key performance indicators in January, leading to the strategic outcomes we have established for Wildpack over a 1, 3 and 5 year horizon. Management continues to be impressed with the ability of our team to meet high expectations, delivering fast turnaround with great quality,” said Mitch BarnardChief Executive Officer.
In January, our M&A team continued to add targets to our pipeline and restructured our deal features to match the current realities of our stock price. Our current goals have generally adapted to our updated structure as we continue to move these discussions forward.
Our growth team has also prioritized near-term facility builds, which can be funded with cash or debt financing to capture the growing order pipeline described in the highlights section above. Our team works diligently through the site selection process and the planning required to deploy existing manufacturing assets in these locations.
The main consideration for growth is the choice of location. Our ongoing goal is to improve our network across the United States.
January box throughput was 9.4M. This responds to the accelerated use planned by management to achieve 300M throughput canisters this year.
Vegas in-house printing operations have reached a commercial level and now produce a large portion of the pouches and labels consumed by our operations. As theorized and realized, this has increased the ability of our operations to reduce lead times and total costs; provide the sales team with a new competitive edge to win more business.
The new charges for Baltimore and Vegas are high-end upgrades to existing assets, with the installation causing no disruption to production, which management believes will increase the throughput and yields of these facilities.
We advanced our modernization strategy to implement a paperless B2B digital portal, (see: press release from the October 26, 2021), the project continuing on schedule.
Our Technology division has added an in-house development team that enables us to increase productivity, reporting, efficiency and reduce costs associated with implementing our technology strategy.
We started a project to create a mobile and web client application. This will improve the accessibility of the current web portal with beta testing starting in the second half of 2022.
These enhancements will maintain us as a technology leader in beverage manufacturing, better aligning our service with customer expectations in the digital age.
Update of key people
In addition to the integration of the technology development team, Wildpack has added to our management team with the appointment of Elizabeth TampyGeneral Counsel, Advaith Menon, Senior Director, Operational Excellence, Dante BrutonQuality Assurance Manager and Scott Samon, Director of Planning, Supply Chain. Elizabeth’s experience with listed small cap growth companies immediately improved Wildpack’s internal controls and oversight. Advaith, Dante and Scott reinforced Wildpack’s commitment to operational engagement for quality production in a timely manner.
Environmental Sustainability Update
Sustainability is fundamental to our future. As global citizens, we believe that all companies have a social responsibility to structure their activities to advance environmental initiatives. This is the main cause of the massive shift to aluminum cans in the beverage market and why to end all production using this format. To continue our sustainability alignment, we have launched initiatives to eliminate plastic from our operations and shift energy use to renewable sources on a phased basis by 2024 and 2025, respectively.
A more complete update on timelines and milestones will be provided after the planning stage, which is currently underway in our corporate and divisional steering committees.
By: “Mitch Barnard”
Chairman and Chief Executive Officer and Director
Stifel GMP is the financial advisor to Wildpack Beverage Inc., Fasken Martineau DuMoulin LLP is its legal advisor.
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Wildpack is engaged in beverage manufacturing and packaging, operating in the mid-market by providing sustainable aluminum can filling, decorating and brokerage services to brands around the world. 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 has started trading the May 19, 2021on the TSX Venture Exchange under the symbol “CANS.V”.
Caution regarding forward-looking information
This press release may contain “forward-looking statements” within the meaning of applicable Canadian securities laws, including, but not limited to, statements regarding Wildpack’s plans and operating performance, revenue estimates, the timing and objectives of merger and acquisition activity, costs, future capital expenditures and the success of the integration. Forward-looking statements are based on a number of estimates and assumptions which, although considered reasonable by management, are inherently subject to significant business, economic and competitive risks, including, but not limited to: risks relating to the successful integration of acquisitions; operational risks; risks relating to general economic conditions and the availability of credit, actual results of ongoing production and decoration, fluctuations in aluminum prices; failure of plant, equipment or processes to perform as intended; accidents, labor disputes, title disputes, claims and limitations of insurance coverage and other risks of the co-packing industry; delays in completing investment activities, changes in state and local government regulations of manufacturing operations and labor laws in light of the current COVID pandemic, tax rules and regulations, and political and economic developments where Wildpack operates. These statements can generally be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”. , “expects”, “believes”, or “continues”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause that future results, performance or achievements will be materially different from the estimated future results, performance or achievements expressed or implied by such forward-looking statements and forward-looking statements. 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 beyond Wildpack’s control, and undue reliance should not be to these statements. Although Wildpack has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, other factors may cause results not to be anticipated, estimated or intended. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties of Wildpack’s business, including that Wildpack’s assumptions in making forward-looking statements may prove to be incorrect; delays in filing financial information; adverse market conditions; risks inherent in the beverage manufacturing and packaging industry generally; that future results may differ from historical results; and competition in the markets where Wildpack operates. Except as required by securities law, Wildpack undertakes no 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 the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Wildpack Beverage Inc.