Wildpack Announces Appointment of David Bower as VP of Sales and Provides April Corporate Update
VANCOUVER, BC, May 10, 2022 /PRNewswire/ - Wildpack Beverage Inc. (TSXV: CANS) (OTCQB: WLDPF) ("Wildpack" or the "Company") a national beverage co-packer and packaging supplier focused on the aluminum can format, is pleased to announce the addition of David Bower as its new Vice President of Sales.
David Bower joins the Wildpack leadership team following six successful years with the Midwest regional craft brewery Upland Brewing Co., where he served as President & CEO. He has prior experience in the beverage supplier and the wholesaler space, including Director of Sales at Indiana's award-winning Sun King Brewery.
"We are thrilled to have David join our team and contribute his extensive background and fresh perspective on sales and service strategy during a time of rapid growth within Wildpack," said Chief Growth Officer, Thomas Walker.
Wildpack's sales organization continues to ramp up to meet the needs of its can and co-pack customers. Wildpack's network growth strategy to build or acquire manufacturing locations covering the US middle-market beverage segment is anchored with six existing locations operating in Marietta, Baltimore, Sacramenta, Longmont, Grand Rapids, and Las Vegas.
In his new role, David will provide the vision and leadership to enhance Wildpack's position as a market leader within the industry.
"This is an exciting time to join Wildpack and the beverage canning industry," says David. "Speaking from experience, during this inflection point in the ever-evolving beverage business, companies need innovative and nimble solutions that bring their vision to market and Wildpack is uniquely positioned to do just that," said David Bower, VP of Sales.
April Operations Highlights
April can throughput was 16.1 million. Throughput was impacted by the 15% reduction in month-over-month working days, and principally in the lowest revenue producing vertical, brokering, due to seasonality. Operationally, sleeves printed, and cans filled both realized record monthly throughput, increases of 47% and 25% month-over-month respectively. The Printing Division achieved a single day throughput record of 190,000 sleeves printed. Wildpack converted 11 new customers with 94 total orders for the month.
Wildpack's Finance Team added Maria Rezvanova as Corporate Controller. She brings 15 years of experience in various senior dynamic accounting roles. Our quality assurance team, led by Sandra Stanley, have initiated implementation of a staged plan to achieve the Global Food Safety Initiative ("GFSI") Certification to enhance Wildpack's commitment to quality and food safety. In April our can filling yields averaged 92% and decorating yield averaged 98%. Both continue to exceed internal target thresholds.
2021 Year-end Earnings
Wildpack announced its year-end 2021 earnings on May 2, 2022. Press release, financial statements, management discussion and analysis, earnings webcast replay and transcript can be found here.
Per: "Mitch Barnard"
Fasken Martineau DuMoulin LLP is the legal advisor to Wildpack Beverage Inc.
Visit our investor website at: https://investor.wildpackbev.com
Wildpack is engaged in beverage manufacturing and packaging, operating in the middle market by providing sustainable aluminum can filling, decorating, packaging, and sleeve and label printing services to brands throughout the United States. Wildpack currently operates indirectly through its wholly owned subsidiaries and out of 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 May 19, 2021, on the TSX Venture Exchange under the symbol "CANS" and commenced trading on February 23, 2022, on the OTCQB® Venture Market under the symbol "WLDPF".
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, 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 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, 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 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.
Source: Wildpack Beverage Inc.
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SOURCE Wildpack Beverage Inc.
Company Codes: OTC-BB:WLDPF, OTC-PINK:WLDPF, OTC-QB:WLDPF, TorontoVE:CANS
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