Wildpack Provides Update on Outstanding Debenture Payments

Rhea-AI Summary

Wildpack Beverage (OTC:WLDPF) has defaulted on its C$20 million 8% senior unsecured convertible debentures payment due June 30, 2025, plus C$2.4 million in accrued interest. The company faces additional debt obligations including C$20 million due November 2025 and C$5.007 million due March 2026.

The company is actively engaging with stakeholders to restructure its debt and seeking additional financing for operations. No extension has been secured, and while no payment demand has been received from the trustee, there's no guarantee of successful debt restructuring or timely transaction completion.

Positive

• None.

Negative

• Default on C$20 million debenture payment plus C$2.4 million interest due June 30, 2025
• Additional C$20 million debt plus C$2.4 million interest due November 2025
• Further C$5.007 million debt plus C$600,840 interest due March 2026
• Company requires debt restructuring and additional financing for operations

VANCOUVER, BC / ACCESS Newswire / July 3, 2025 / Wildpack Beverage Inc. (TSXV:CANS)(OTC PINK:WLDPF) ("Wildpack" or the "Company") announced today that it was unable to pay the outstanding principal and interest on its 8% senior unsecured convertible debentures, which was due on June 30, 2025. To date, the Company has not secured an extension of its deadline for payment, nor has it received an official demand for payment from the trustee for the debentures. However, there can be no assurance that an extension will be obtained or that such a demand will not be made.

The aggregate principal amount of debentures due for payment is C$20 million, plus accrued and unpaid interest of approximately C$2.4 million.

The Company also has an additional C$20 million of principal, plus accrued and unpaid interest of approximately C$2.4 million in respect of a series of unsecured convertible debentures due November 23, 2025 and C$5.007 million of principal, plus accrued and unpaid interest of approximately C$600,840 in respect of a series of unsecured convertible debentures due March 31, 2026.

As previously disclosed, the Company continues to be actively engaged in discussions with various stakeholders to restructure the Company's debt. Strategic and financial alternatives under consideration are focused on relieving the financial burden of the Company's current debt structure and obtaining additional financing necessary to fund ongoing operations. There can be no assurance that the current process will result in a transaction or, if a transaction is undertaken, that it will be successfully concluded in a timely manner or at all.

About Wildpack

Wildpack provides beverage manufacturing and packaging to the middle market by providing sustainable aluminum can filling, decorating, packaging, brokering, and logistics to customers throughout the United States. Wildpack currently operates indirectly through its wholly owned subsidiaries and out of four facilities in Baltimore, Maryland; Grand Rapids, Michigan; Austin, Texas, and Las Vegas, Nevada. Wildpack commenced trading on the TSX Venture Exchange under the symbol "CANS" on May 19, 2021.

Forward-Looking Statements

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 ability of the Company extend the due date for its debentures or to restructure its debt and the associated transactions to be completed in connection therewith. 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 ability of the Company extend the due date for its debentures or to restructure its debt and the associated transactions to be completed in connection therewith. 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. 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

WILDPACK BEVERAGE INC.

Per: "Mitch Barnard"
Mitch Barnard
Chief Executive Officer and Director

For further information, please contact us at:
invest@wildpackbev.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: Wildpack Beverage Inc.

View the original press release on ACCESS Newswire

FAQ

What is the total amount of debt Wildpack Beverage (WLDPF) defaulted on in June 2025?

Wildpack defaulted on C$22.4 million total, comprising C$20 million in principal and C$2.4 million in accrued interest on its 8% senior unsecured convertible debentures.

What is Wildpack Beverage's (WLDPF) total outstanding debt as of July 2025?

Wildpack's total outstanding debt is approximately C$50.4 million, including three sets of convertible debentures due in June 2025 (C$22.4M), November 2025 (C$22.4M), and March 2026 (C$5.6M).

What actions is Wildpack Beverage (WLDPF) taking to address its debt situation?

Wildpack is actively engaging with stakeholders to restructure its debt and seeking additional financing for ongoing operations, though success is not guaranteed.

When are Wildpack Beverage's (WLDPF) next major debt payments due?

Wildpack's next major debt payments are C$22.4 million due November 23, 2025, and C$5.6 million due March 31, 2026.

Has the trustee demanded payment from Wildpack Beverage (WLDPF) for the defaulted debentures?

As of July 3, 2025, no official demand for payment has been received from the trustee, though there's no guarantee this won't change.