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.
Wildpack Beverage Inc. (OTCQB: WLDPF) announced legal action relating to the 2021 acquisition of Land and Sea Packaging. The company has filed lawsuits in Michigan against Kim and Tim Murray for misrepresentations connected to the acquisition and against Kim Murray in Vancouver for breach of fiduciary duties. In response, Kim Murray has also initiated legal proceedings claiming unpaid amounts under the acquisition terms. Wildpack has stated it will refrain from further comments on these ongoing legal matters unless advised by legal counsel.
Wildpack Beverage Inc. (OTCQB: WLDPF) reported strong results for January 2023, with confirmed customer orders totaling $5,274,213 and 237 confirmed sales orders. The company converted 49 new customers, underscoring its growth strategy. Production metrics included a total throughput of 23,000,662 cans and a 26% plant utilization rate. However, the company announced the resignation of board member Kim Murray and is in the process of changing auditors after the former auditor, KPMG LLP, could not reach an agreement. Wildpack remains committed to high-quality service and is optimistic about future growth.
Wildpack Beverage (OTCQB: WLDPF) successfully held its annual general meeting on January 26, 2023, with 54,944,241 common shares (49.48% of outstanding shares) represented. Major decisions included the election of eight directors, approval of the new Omnibus Incentive Plan, and the appointment of KPMG LLP as auditors. All director nominees received significant support, with votes ranging from 87.12% to 99.57% in favor. This reflects strong shareholder engagement and confidence in Wildpack's strategic direction and governance.
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Wildpack Beverage Inc. (OTCQB: WLDPF) has announced the successful completion of its vertical short form amalgamation with its subsidiary, Wildpack Beverage Alberta Inc., effective January 1, 2023. This strategic move consolidates the corporate structure, aiming to streamline operations and reduce costs. Wildpack expresses gratitude to its stakeholders for their support and is focused on delivering high-quality products and services while driving future growth. The company operates multiple facilities across the U.S., specializing in sustainable aluminum can packaging.
Wildpack Beverage Inc. (OTCQB:WLDPF) announced record results for November 2022, achieving confirmed customer orders of $5,874,535 and total throughput of 21,728,174 cans. Notable metrics include filling throughput of 2,223,805 cans and a 37% month-over-month increase in plant utilization to 26%. The company converted 46 new customers, reflecting strong sales growth and operational improvements. CEO Mitch Barnard highlighted these results as indicators of Wildpack's enhanced market position and commitment to sustainability.
Wildpack Beverage Inc. (OTCQB: WLDPF) reported a 16% increase in Q3 sales to $8.17 million compared to Q3 2021. Production volume surged 76% to 43.73 million cans. For the first nine months of 2022, sales revenue rose 18% to $25.61 million. Upgrades at the Las Vegas facility constrained production, while expansion in the printing division added new capabilities. Wildpack signed a significant supply contract with Ball Corporation, improving domestic can supply, and secured a large contract with EHPlabs for future services.
Wildpack Beverage Inc. (OTCQB: WLDPF) announced record sales in October 2022, marking the second consecutive month of record-breaking performance in total sales and new customer conversions. The company achieved a throughput of 17.4 million cans and announced partnerships with EHP Labs and Woodstream. Production commenced at the new Las Vegas facility using the Comac CFT rotary filler, enhancing operational capacity. A Q3 earnings webinar is scheduled for November 29, 2022, with results expected after market close.
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Wildpack Beverage Inc. has secured a two-year contract with EHPlabs to produce its flagship product, OxyShred, for US distribution, committing to 30 million cans in 2023 and 40 million in 2024. The agreement involves can decoration, filling, and ingredient procurement. Additionally, Izhar Basha, CEO of EHPlabs, will invest US$1 million in Wildpack and join its Board of Directors, pending approvals. This partnership is seen as a strategic win, enhancing Wildpack's market position in beverage manufacturing.
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