Mr. Mitch Barnard reports

WILDPACK PROVIDES UPDATE ON OUTSTANDING DEBENTURE PAYMENTS

Wildpack Beverage Inc. has been unable to pay the outstanding principal and interest on its 8 per cent senior unsecured convertible debentures, which was due on June 30, 2025. To date, the company has not secured an extension of its deadline for payment, nor has it received an official demand for payment from the trustee for the debentures. However, there can be no assurance that an extension will be obtained or that such a demand will not be made.

The aggregate principal amount of debentures due for payment is $20-million, plus accrued and unpaid interest of approximately $2.4-million.

The company also has an additional $20-million of principal, plus accrued and unpaid interest of approximately $2.4-million in respect of a series of unsecured convertible debentures due Nov. 23, 2025, and $5,007,000 of principal, plus accrued and unpaid interest of approximately $600,840 in respect of a series of unsecured convertible debentures due March 31, 2026.

As previously disclosed, the company continues to be actively engaged in discussions with various stakeholders to restructure the company's debt. Strategic and financial alternatives under consideration are focused on relieving the financial burden of the company's current debt structure and obtaining additional financing necessary to finance continuing operations. There can be no assurance that the current process will result in a transaction or, if a transaction is undertaken, that it will be concluded in a timely manner or at all.

About Wildpack Beverage Inc.

Wildpack provides beverage manufacturing and packaging to the middle market by providing sustainable aluminum can filling, decorating, packaging, brokering and logistics to customers throughout the United States. Wildpack currently operates indirectly through its wholly owned subsidiaries and out of four facilities in Baltimore, Md.; Grand Rapids, Mich.; Austin, Tex., and Las Vegas, Nev. Wildpack commenced trading on the TSX Venture Exchange under the symbol CANS on May 19, 2021.

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