Wildpack Releases Third Quarter Financial Results, Provides Update on the Proposed Debenture Restructuring Transaction, and Strategic Alternatives

Executive Summary

• Wildpack Beverage Inc. released its unaudited Q3 2025 financial results, highlighting continued topline revenue growth despite ongoing cost‑containment initiatives.
• The company announced the closure of its Las Vegas and Grand Rapids facilities as part of a broader operational reset aimed at improving unit economics and profitability.
• Ongoing negotiations are underway to restructure $45.0 M of 8% public convertible debentures; no resolution has been reached, and interest payments remain unpaid.

Key Details

• Q3 2025 Financials: Unaudited results for the quarter ended September 30 2025 have been filed (specific revenue, EBITDA, or net loss figures were not disclosed in the release).
• Facility Closures: Las Vegas, NV and Grand Rapids, MI plants are being shut down to consolidate production, reduce overhead, and enhance profitability. Remaining operating sites are Baltimore, MD; Austin, TX; and one of the two closed facilities (as applicable).
• Cost‑Containment Focus: Management emphasizes ongoing efforts to simplify the physical footprint and achieve efficiency gains across the business.
• Debenture Restructuring Proposal:
• Outstanding 8% public convertible debentures – total principal CA$45,007,000 issued on 30 Jun 2021, 23 Nov 2021, and 31 Mar 2022.
• No interest payments have been made; accrued unpaid interest continues to accumulate.
• Principal on Series 1 (maturing 30 Jun 2025) and Series 2 (maturing 23 Nov 2025) remains unpaid.
• Company has not received a waiver or default notice and is actively negotiating with stakeholders for a restructuring solution.
• Strategic Alternatives: The company is exploring strategic and financial alternatives to alleviate its debt burden and secure additional financing needed for ongoing operations; no guarantee of transaction completion.
• Management Quote: “I am pleased with the continued growth in topline revenue… the closure of the Las Vegas facility will better position the Company to hone production and manage costs more closely…” – Travis Sarich, CEO.

Notable Quotes

“I am pleased with the continued growth in topline revenue, driving from filling production volume growth. We continue to focus intently on cost containment and optimizing the Company's physical footprint.” – Travis Sarich, Chief Executive Officer

Legal Advisor: Fasken Martineau DuMoulin LLP
Contact: [email protected]