Welcome to our dedicated page for Wildpack Beverag news (Ticker: WLDPF), a resource for investors and traders seeking the latest updates and insights on Wildpack Beverag stock.
Wildpack Beverage Inc. (WLDPF), which trades on the TSX Venture Exchange under the symbol "CANS", regularly issues news updates covering its beverage manufacturing and aluminum can packaging operations, financial performance, and capital structure. The company describes itself as a middle market co-packer of canned goods, providing sustainable aluminum can filling, decorating, packaging, brokering, sleeve/label printing services, and logistics to brands throughout the United States.
News about Wildpack often includes quarterly and annual financial results, with details on confirmed customer orders, sales orders, throughput in cans and sleeves, and plant utilization. These releases provide insight into the company’s operating volumes across decoration, filling, brokering, and sleeve printing, as well as trends in its co-packing activity for aluminum canned beverages.
Another major theme in Wildpack’s news flow is financing and restructuring. The company has reported on its term loan arrangements with Sandton Credit Solutions Master Fund V, LP, including amendments that change facility size, conversion terms, interest rates, and maturities. It has also issued multiple updates on a Debenture Restructuring Transaction involving its 8.00% convertible unsecured subordinated debentures, proposed repurchases, exchanges of debentures for common shares, and the planned delisting of debentures from the TSX Venture Exchange.
Recent releases have also addressed Wildpack’s efforts to obtain additional loans, conduct a rights offering, and manage its debt obligations. This includes a disclosure that the company was unable to pay principal and interest due on a series of 8% senior unsecured convertible debentures and is engaged in discussions with stakeholders to restructure its debt, while noting that there is no assurance of a successful outcome.
Corporate and governance developments are another area of coverage. Wildpack’s news has described operational leadership restructuring, changes in board composition, the engagement of PGP Capital Advisors, LLC as financial advisor, and transactions involving its subsidiary Thirsty Cat LLC and significant shareholders. Investors and observers can use the Wildpack news feed to follow these operational, financial, and capital structure developments over time.
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Wildpack Beverage Inc. (OTC Pink: WLDPF) has successfully closed a Bridge Loan of US$12.5 million from Sandton Capital Partners, aimed at supporting its growth in sales and production. This secured loan features a 13% interest rate and will mature in 12 months, with all accrued interest added to the principal. The funds will primarily be used for facility improvements and working capital. Additionally, Wildpack has entered into a term sheet for a potential Convertible Loan of US$25 million, convertible into 49% equity of the company, subject to regulatory approval. The previously considered Manna Loan for US$20 million has been terminated.
Wildpack Beverage Inc. (OTC PINK:WLDPF) announced a potential delay in filing its annual financial statements for the year ended December 31, 2022, due to a recent change of auditor. The company has yet to appoint a successor auditor, which is necessary for completing the financial audit. Should the Required Filings not be submitted by May 1, 2023, a management cease trade order (MCTO) may be imposed, although the company has applied for an MCTO with no guarantee of approval. Wildpack aims to file the Required Filings by June 30, 2023, and intends to comply with alternative information guidelines in the interim. The company confirms it is not facing insolvency and has no undisclosed material information.
Wildpack Beverage Inc. (OTC PINK:WLDPF) announced key developments regarding compensation and employee payments. The Board approved the issuance of 13,852,395 restricted share units (RSUs) to key employees and directors as part of its omnibus incentive plan, with vesting dependent on time and performance milestones. Additionally, the Company will settle USD 141,300 owed to employees through the issuance of 1,016,799 common shares at a deemed price of C$0.19 each, exempt from hold periods. Wildpack operates in the beverage manufacturing sector and seeks to expand its service offerings and market presence. The issuance of equity is subject to approval from the TSX Venture Exchange.
Wildpack Beverage Inc. (OTC PINK: WLDPF) reported impressive results for March 2023, achieving a confirmed customer order total of $8,036,791, indicating an annualized run rate of $96.44 million. The company recorded 288 sales orders and successfully converted 66 new customers. Total throughput reached 34,625,234 cans, with notable figures in filling and printed sleeve throughput at 3,084,405 and 4,974,798 respectively. Additionally, decoration throughput stood at 5,128,060 cans. Plant utilization improved to 40%, marking a 25% increase month-over-month. Wildpack's CEO, Mitch Barnard, emphasized the commitment to delivering quality and expanding their customer base.
Wildpack Beverage Inc. has announced a significant financing agreement through its subsidiary, Thirsty Cat, LLC, with Manna Capital Partners. The agreement involves a USD $20 million convertible term loan, which can convert into approximately 59% of the Borrower's equity, potentially increasing Manna's total equity to 65.77%. The loan is secured with a 12-month term at an interest rate of 8% per annum. The Lender also holds an option to acquire the remaining equity, necessitating shareholder approval. The deal aims to support Wildpack's growth and strengthen its position in the beverage industry, with closing expected by April 10, 2023.
Wildpack Beverage announced record-breaking results for February 2023. Confirmed customer orders reached $7,206,225, indicating an annualized run rate of $86.5 million. The company recorded 245 sales orders and converted 54 new customers. Total throughput was 28,019,901 cans, with significant figures in filling, decoration, and brokering throughput. Plant utilization improved to 32%, up 22% month-over-month. CEO Mitch Barnard expressed pride in these achievements and emphasized the focus on efficiency and continuous improvement. The momentum is expected to carry into March 2023.
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