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VANCOUVER, BC, July 9, 2021 /PRNewswire/ - Wildpack Beverage Inc. (TSXV: CANS) ("Wildpack" or the "Company") is pleased to announce that, further to the Company's news release dated June 30, 2021, whereby the Company announced the closing of the bought deal offering of 20,000 debenture units (the "Debenture Units") of the Company at a price of C$1,000 per Debenture Unit for gross proceeds of C$20,000,000 (the "Offering"), where each Debenture Unit consisted of one 8% senior unsecured convertible debenture having a face value of $1,000 (each, a "Convertible Debenture") and 332 common share purchase warrants of the Company (each, a "Warrant"), the Convertible Debentures and Warrants have been approved for listing on the TSX Venture Exchange under the symbols CANS.DB and CANS.WT, respectively, and will begin trading at the open of market on July 13, 2021.
Each Convertible Debenture accrues interest at 8.0% per annum, payable quarterly in arrears until maturity on June 30, 2025 and is convertible into common shares of the Company (each a "Common Share") at a conversion price of $1.51 per Common Share (the "Conversion Price"). For additional details regarding the Convertible Debentures, please refer to the Company's news release dated June 30, 2021.
Each Warrant entitles the holder thereof to purchase one Common Share at $1.81 per share until June 30, 2023.
WILDPACK BEVERAGE INC.
Per: "Mitch Barnard"
Mitch Barnard
Chief Executive Officer and Director
About Wildpack
Wildpack is engaged in beverage manufacturing and packaging, operating in the middle market by providing can filling and decorating services to brands throughout the United States. Wildpack currently operates indirectly through its subsidiaries and out of facilities in Baltimore, Maryland, Sacramento, California and Las Vegas, Nevada. Wildpack commenced trading on May 19, 2021, on the TSXV under the symbol "CANS.V".
Forward-Looking Statements
This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws, including, without limitation: our statements related to the use of proceeds of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. 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. Wildpack's statements expressed or implied by these forward-looking statements 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. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Offering, including: that Wildpack's assumptions in making forward-looking statements may prove to be incorrect; 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 TSXV 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.
