Big Rock has secured a new multi-year co-pack agreement with a new partner to produce its various styles of beer through to the end of fiscal 2028;
This agreement represents over $3.5 million in incremental annual revenue for the Corporation; and
The Corporation continues to execute a key aspect of its strategy in growing its co-pack business and as a result, further solidifying itself as a leading alcohol beverage manufacturer in Western Canada.
CALGARY, AB, April 5, 2023 /CNW/ - Big Rock Brewery Inc. (TSX: BR) ("Big Rock" or the "Corporation") is pleased to announce a new 5-year co-pack agreement with a new partner at its Calgary brewery (the "Co-Pack Agreement"). Under the terms of the Co-Pack Agreement, the Corporation will produce various styles of beer and anticipates incremental revenue per annum of over $3.5 million.
"We're excited to announce another co-pack agreement for the Corporation as Big Rock continues to focus on not only increasing the utilization of our facility, but in smoothing out our annual production curve as the majority of this volume will occur in the shoulder season of our fiscal year," stated interim President and Chief Executive Officer Stephen Giblin. "The inception of this relationship is yet another strong 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 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 management's assumptions in respect of the Co-Pack Agreement, including the demand for the beers 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, may 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.
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