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Wildpack Arranges US $5 Million Senior Secured Credit Facility with TAB Bank and Announces August Operational Update

VANCOUVER, BC / ACCESSWIRE / September 27, 2022 / Wildpack Beverage Inc. (TSXV:CANS)(OTCQB:WLDPF) ("Wildpack" or the "Company") a U.S. national beverage co-packer and packaging supplier focused on the aluminum can format, today announces that it has …

VANCOUVER, BC / ACCESSWIRE / September 27, 2022 / Wildpack Beverage Inc. (TSXV:CANS)(OTCQB:WLDPF) ("Wildpack" or the "Company") a U.S. national beverage co-packer and packaging supplier focused on the aluminum can format, today announces that it has entered into a senior secured revolving credit facility (the "Facility") with Transportation Alliance Bank, Inc. ("TAB Bank"), for up to US$5,000,000 in asset backed financing.

"After a thorough search we are happy to announce TAB Bank as our new senior secured debt partner. We believe TAB Bank aligns with Wildpack's organic growth strategy and look forward to expanding the available loan capacity in the near future." commented Ryan Mason, Chief Financial Officer. "This financing further strengthens our balance sheet and extends our cash runway offering operational flexibility to support our profit focused growth strategy."

The Facility provides for a senior secured revolving credit facility, with a 2-year term, and interest only payments at the variable 30-day Secured Overnight Financing Rate ("SOFR") plus 4.85%. TAB Bank holds a first position security interest in the Company's assets, as well as a guarantee from the Company. The Company has completed an initial draw of US$1,545,000 to repay, in full, existing credit obligations with Fulton Bank. The Company intends to use available proceeds for general working capital purposes.

August Operations

In August 2022, Wildpack achieved 18.9 million can throughput. Wildpack's throughput results, which include cans and can equivalents, were led by a 5% month-over-month ("MoM") increase in cans brokered and an 11% MoM increase in tertiary packaging sales. Can decorating achieved 3.4 million units, can filling achieved 789 thousand Units, and Printing operations achieved 2.3 million units produced. Wildpack's total sales orders for the month of August were 138, with 25 customers making their first purchase with Wildpack. Plant utilization was 20% for the month of August, with production yields for both can decorating and can filling above 90%.

Per: "Mitch Barnard"

Mitch Barnard
Chief Executive Officer and Director

For further information, please contact us at:

invest@wildpackbev.com

or

Elijah Clare
Vice President, Investor Relations
elijah@wildpackbev.com

Advisors

Fasken Martineau DuMoulin LLP is the legal advisor to Wildpack Beverage Inc.

Visit our investor website at:

https://investor.wildpackbev.com

About Wildpack

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Wildpack Arranges US $5 Million Senior Secured Credit Facility with TAB Bank and Announces August Operational Update VANCOUVER, BC / ACCESSWIRE / September 27, 2022 / Wildpack Beverage Inc. (TSXV:CANS)(OTCQB:WLDPF) ("Wildpack" or the "Company") a U.S. national beverage co-packer and packaging supplier focused on the aluminum can format, today announces that it has …

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