VANCOUVER, BC, Feb. 28,
2022 /CNW/ - Wildpack Beverage Inc. (TSXV:
CANS) (OTC: WLDPF) ("Wildpack") is pleased to
announce that the TSX Venture Exchange (the "Exchange") has
accepted its Notice of Intention to implement a Normal Course
Issuer Bid ("NCIB") to be transacted through the facilities
of the Exchange or by such other means as may be permitted under
applicable securities laws during the term of the NCIB.
Mitch Barnard, Chief Executive
Officer said, "We believe the shares trade in a range that presents
an attractive use of our capital and do not reflect the current
value of Wildpack's production and financial assets and the
business prospects for our future."
Pursuant to the NCIB, Wildpack may, during the 12-month period
commencing March 3, 2022, and ending
March 2, 2023, purchase up to
5,049,096 Common Shares (the "Shares"), being up to 5%
of Wildpack's outstanding common shares as at February 28, 2022.
The price which Wildpack will pay for any such Shares will be
the prevailing market price at the time of acquisition. The number
of Shares which may be purchased pursuant to the NCIB and the
timing of any such purchases will be determined by
management. Purchases under the NCIB will be made from time
to time by Stifel Nicolaus Canada Inc. on behalf of Wildpack. All
Shares purchased pursuant to the NCIB will be returned to treasury
for cancellation.
The Board of Directors of Wildpack is implement the NCIB because
it believes, from time to time, the market price of the Shares may
not fully reflect the underlying value of Wildpack's business and
its future prospects. Accordingly, Wildpack believes purchasing its
common shares may represent an appropriate and desirable use of
corporate funds and represents an opportunity to enhance
shareholder value. Wildpack has not purchased any of its common
shares in the previous twelve-month period.
A copy of the notice filed with the Exchange may be obtained, by
any shareholder without charge, by contacting the Company's Vice
President of Investor Relations, Elijah
Clare.
Per: "Mitch Barnard"
Mitch Barnard
Chief Executive Officer and Director
Advisors
Stifel GMP is financial advisor to Wildpack Beverage Inc.,
Fasken Martineau DuMoulin LLP is its legal advisor.
Visit our investor website at:
https://investor.wildpackbev.com
About Wildpack
Wildpack is engaged in beverage manufacturing and packaging,
operating in the middle market by providing sustainable aluminum
can filling, decorating, and brokering 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.V" 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.
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SOURCE Wildpack Beverage Inc.