The QuikFlex represents the latest technology in a flexible, high-speed, continuous-motion packer designed to package single tiers of cans in various configurations and features automatic loading. The QuikFlex will be integrated with the Corporation's high-speed canning line that was upgraded during 2022.
- The Corporation also announced some recent operational realignments: At the conclusion of its lease on
July 31, 2024 , Big Rock's location inVancouver will be permanently closed. Prior to the pandemic, this location, which was opened in 2015, featured a tap room, restaurant and micro-brewery. The tap room and restaurant were ultimately not re-opened and the leased space was larger than what is required to maintain production; and - Effective
June 17, 2024 Big Rock sold and closed its warehouse facility located inEdmonton, Alberta . Big Rock products will continue to be distributed to each of its customers via a partnership with Hy-Line Express Ltd, anEdmonton -based trucking company who will provide cross-docking functionality to Big Rock's existing network of transportation partners.
Forward-Looking Information
Certain statements contained in this press release constitute forward-looking statements. These statements relate to future events or Big Rock's future performance. All statements, other than statements of historical fact, may be forward-looking statements. Forward-looking 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. Big Rock believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon by readers, as actual results may vary materially from such forward-looking statements. These statements speak only as of the date of this press release and are expressly qualified, in their entirety, by this cautionary statement.
In particular, this press release contains forward-looking statements pertaining to the following:
- Big Rock's expectation that the QuikFlex will allow Big Rock to meet the changing tastes and preferences of its customer base;
- Big Rock's expectation that the addition of the QuikFlex will allow Big Rock to package products in formats that align with the needs of co-packing partners;
- Big Rock's expectation that the addition of the QuikFlex will reduce product movements and reliance on third party packers, making the Corporation more competitive;
- the anticipated date and timeline of Big Rock's location in
Vancouver permanent closure; - Big Rock's expectation that its products will continue to be distributed to each of its customers via a partnership with
Hy-Line Express Ltd. ; - Big Rock's expectation that
Hy-Line Express Ltd. will provide cross-docking functionality to Big Rock's existing network of transportation partners; - Big Rock's expectation that implementation of the operational realignment will allow Big Rock to continue to meet the needs of its customers in
British Columbia , Northern andCentral Alberta ; - the expectations that Big Rock's operational realignment will result in the streamlining of operating costs and consolidate the Corporation's inventory and logistics staging operations with its
Calgary location; and - the expectations that customers will continue to be able to order, have product readily available and be serviced on a seamless basis with Big Rock's existing network of last-kilometer logistic partners who will continue to deliver our product directly.
With respect to the forward-looking statements listed above and contained in this press release, management has made assumptions regarding, among other things:
- there will be no material change to the regulatory environment in which Big Rock operates;
- there will be no material supply issues with Big Rock's vendors;
- that Big Rock will receive and successfully complete the installation of the QuikFlex;
- that Big Rock can and will successfully integrate and operate the QuikFlex; and
- that Big Rock can and will execute its operational realignments and strategies.
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 for the year ended
- the inability to integrate the QuikFlex with the Corporation's high-speed canning line as expected;
- the risk that the addition of the QuikFlex may not allow Big Rock to package products in formats that align with the needs of co-packing partners as expected;
- the risk that the implementation of the operational realignment may not allow Big Rock to continue to meet the needs of its customers in
British Columbia , Northern andCentral Alberta as expected; - the inability to complete the anticipated relocation of Big Rock's brewing operations in
British Columbia and continue to brew high-quality beverages as expected; - the risk that Big Rock's operational realignment may not result in the streamlining of operating costs and consolidate the Corporation's inventory and logistics staging operations with its
Calgary location as expected; and - the risk that customers may not be able to order, have product readily-available and be serviced on a seamless basis with Big Rock's existing network of last-kilometer logistic partners as expected.
Readers are cautioned that the foregoing list of assumptions and risk factors is not exhaustive. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking information and statements included in this press 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
In 1985,
SOURCE
© Canada Newswire, source