CALGARY,
AB, Nov. 20, 2024 /CNW/ - Big Rock Brewery
Inc. (TSX: BR) ("Big Rock" or the
"Corporation") is pleased to announce the expansion of its
second lien financing (the "Second Lien Financing") with its
principal shareholder, VN Capital Fund I, LP ("VN Capital"),
by $500,000. In addition, the entire
Second Lien Financing has been extended to mature on March 31, 2025.
The expanded financing will enhance Big Rock's financial
flexibility as it continues to optimize its operations and pursue
its growth objectives in the ready to drink ("RTD") market. Capital
investments will be prioritized to grow both the capacity and
capability within the RTD Category. The Corporation values
the continued support of VN Capital, which underscores their
confidence in Big Rock's long-term strategy.
Further details regarding the Second Lien Financing can be found
in the Corporation's publicly available disclosure documents filed
on SEDAR+ at www.sedarplus.ca.
Forward-Looking Information
Certain statements contained in this press release constitute
forward-looking statements. These statements relate to future
events or Big Rock's future performance. All statements, other than
statements of historical fact, may be forward-looking statements.
Forward-looking information are not facts, but only predictions and
generally can be identified by the use of statements that include
words or phrases such as, "anticipate", "believe", "continue",
"could", "estimate", "expect", "intend", "likely", "may",
"project", "predict", "propose", "potential", "might", "plan",
"seek", "should", "targeting", "will", and similar
expressions. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking statements. Big Rock believes that the expectations
reflected in those forward-looking statements are reasonable but no
assurance can be given that these expectations will prove to be
correct and such forward-looking statements included in this press
release should not be unduly relied upon by readers, as actual
results may vary materially from such forward-looking statements.
These statements speak only as of the date of this press release
and are expressly qualified, in their entirety, by this cautionary
statement. In particular, this press release contains
forward-looking statements pertaining to: the anticipated benefits
to be derived from the expanded Second Lien Financing; and the
expectation that Big Rock will optimize its operations and pursue
its growth objectives.
With respect to the forward-looking statements listed above and
contained in this press release, management has made assumptions
regarding, among other things: that additional financing will lead
to increased financial flexibility; and that opportunities for
growth will be available to Big Rock.
Some of the risks which could affect future results and could
cause results to differ materially from those expressed in the
forward-looking information and statements contained herein include
the risk factors set out in the Corporation's annual information
form for the year ended December 30,
2023 which is available on SEDAR+ at www.sedarplus.ca and
also include, but are not limited to: the risk that the expanded
Second Lien Financing may not lead to the benefits anticipated; and
the risk that Big Rock may not optimize its operations or meet its
growth objectives.
Any financial outlook or future oriented financial information
(in each case "FOFI") contained in this press release
regarding prospective financial position, including, but not
limited to: the anticipated benefits to be derived from the
expanded Second Lien Financing; and the expectation that Big Rock
will optimize its operations and pursue its growth
objectives, are based on reasonable assumptions about future
events, including those described above, based on an assessment by
management of the relevant information that is currently available.
The actual results will likely vary from the amounts set forth
herein and such variations may be material. Readers are cautioned
that any such FOFI contained herein should not be used for purposes
other than those for which it is disclosed herein. Such information
was made as of the date of this press release and the Corporation
disclaims any intention or obligation to update or revise any such
information, whether as a result of new information, future events,
or otherwise, unless required pursuant to applicable law.
Readers are cautioned that the foregoing list of assumptions and
risk factors is not exhaustive. The forward-looking information and
statements and FOFI contained herein are expressly qualified in
their entirety by this cautionary statement. The forward-looking
information and statements and FOFI included in this press release
are made as of the date hereof and Big Rock does not undertake any
obligation to publicly update such forward-looking information and
statements to reflect new information, subsequent events or
otherwise unless so required by applicable securities laws.
About Big Rock Brewery Inc.
In 1985, Ed McNally founded Big Rock to contest the time's
beer trends. Three bold, European-inspired offerings – Bitter,
Porter and Traditional Ale – forged an industry at a time heavy on
easy drinking lagers and light on flavour. Today, our extensive
portfolio of signature beers, ongoing seasonal offerings, six
ciders (Rock Creek Cider® series), custom-crafted
private label products and other notable, licensed alcoholic
beverages keeps us at the forefront of the craft beer revolution
and still proudly contesting the beer and alcoholic beverage trends
of today. Big Rock has brewing operations in Calgary, Alberta and Toronto, Ontario. Big Rock trades on the TSX
under the symbol "BR". For more information on Big Rock visit
www.bigrockbeer.com
SOURCE Big Rock Brewery Inc.