Highlights:
- Big Rock has secured a new 3-year co-pack agreement with an
existing partner to produce its beers and Ready-to-Drink
("RTD") alcoholic beverages;
- This agreement represents over $9
million in incremental revenue or over $18 million in total revenue for the Corporation;
and
- The Corporation continues to establish itself as a leading
alcoholic beverage manufacturer in Western Canada with continued growth in its
co-pack business due to its high quality and reliable service.
CALGARY, AB, Dec. 29, 2021 /CNW/ - Big Rock
Brewery Inc. (TSX: BR) ("Big Rock" or the
"Corporation") is pleased to announce a
new 3-year co-pack agreement with an existing partner at its
Calgary brewery (the "Co-Pack
Agreement"). Under the terms of the agreement, the Corporation
will produce various beer and RTD products and anticipates
incremental revenue per annum of over $3
million (total revenue of $6
million per annum).
"The signing of this agreement marks another positive step as we
continue to grow volume and revenue on-strategy with the 'Fill Up'
phase of our strategic plan," stated Wayne
Arsenault, Chief Executive Officer. "The growth in this
relationship is a testament to the capabilities of our people and
our assets to produce complex, high quality beverages at
scale."
Forward-Looking Information and Future-Oriented Financial
Information
Certain statements contained in this news release constitute
forward-looking statements and future-oriented financial
information. These statements relate to future events or Big Rock's
future performance, including its prospective financial
performance. All statements, other than statements of historical
fact, may be forward-looking statements. Forward-looking
information and future-oriented financial 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 and future-oriented
financial information. Big Rock believes that the expectations
reflected in those forward-looking statements and future-oriented
financial information are reasonable but no assurance can be given
that these expectations will prove to be correct and such
forward-looking statements included in this news release should not
be unduly relied upon by readers, as actual results may vary
materially from such forward-looking statements and future-oriented
financial information. These statements are expressly qualified, in
their entirety, by this cautionary statement. In particular, this
news release contains forward-looking statements and
future-oriented financial information pertaining to the anticipated
revenue to be received by the Corporation under the Co-Pack
Agreement.
With respect to the forward-looking statements and
future-oriented financial information listed above and contained in
this news release, management has made assumptions regarding, among
other things, the demand for beers and RTDs produced under the
Co-Pack Agreement, the Corporation's ability to perform its
production obligations under the Co-Pack Agreement and the
creditworthiness and performance of its counterparty under the
Co-Pack Agreement.
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 and also include, but are not limited to, the risk that
managements assumptions in respect of the Co-Pack Agreement,
including the demand for the beers and RTDs produced thereunder,
the Corporation's ability to perform its production obligations
under the Co-Pack Agreement, and the ability of its counterparty
under the Co-Pack Agreement to fulfill its obligations, including,
but not limited to, its payment obligations, will not be
correct.
Readers are cautioned that the foregoing list of assumptions and
risk factors is not exhaustive. The forward-looking statements and
future-oriented financial information contained herein are
expressly qualified in their entirety by this cautionary statement.
The forward-looking statements and future-oriented financial
information included in this news 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, Vancouver, British Columbia, 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.
