For Immediate Release
• Big Rock has secured a new multi-year customer marketing agreement with Browns Social House Ltd. to produce and distribute Social Lager and Social IPA to their locations across Canada; and
• This agreement represents significant beer volume for the Corporation and is an exciting opportunity that compliments Big Rock’s national production and distribution footprint;
December 13, 2022 — Calgary, Alberta — Big Rock Brewery Inc. (TSX: BR) (“Big Rock” or the “Corporation”) is pleased to announce a new 3-year customer marketing agreement (the “Customer Marketing Agreement“) with Browns Social House Ltd. (“Browns”), a growing partner in the casual dining segment, to produce and distribute Social Lager and Social IPA to their locations across Canada. Browns is headquartered in Vancouver with over 70 locations across Canada, operating under the trade names of Browns Socialhouse, Browns Crafthouse, and Liberty Kitchen.
“We are proud to be working with such a great customer in the hospitality industry with a shared commitment to quality and consumer experience,” stated Stephen Giblin, Interim President & CEO. “We look forward to a long-term partnership with Browns and growing our businesses together.”
“We are very excited to be working closely with Big Rock to produce and distribute our proprietary beer for all of our Canadian restaurant brands,” said Browns President, Scott Ward. “Big Rock is an industry leader when it comes to quality, consistency, service, and health and safety standards.”
Forward-Looking Information and Future-Oriented Financial Information
Certain statements contained in this news 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 news release should not be unduly relied upon by readers, as actual results may vary materially from such forward-looking statements. These statements are expressly qualified, in their entirety, by this cautionary statement. In particular, this news release contains forward-looking statements pertaining to: the anticipated revenue to be received by the Corporation under the Customer Marketing Agreement; that Big Rock’s partnership with Browns will be long-term; and that Big Rock and Browns will grow their businesses together.
With respect to the forward-looking statements listed above and FOFI (as defined below) contained in this news release, management has made assumptions regarding, among other things: the demand for beers produced under the Customer Marketing Agreement; the Corporation’s ability to perform its production and distribution obligations under the Customer Marketing Agreement; and the creditworthiness and performance of its counterparty under the Customer Marketing 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 and FOFI 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 Customer Marketing Agreement, including the demand for the beers produced thereunder, the Corporation’s ability to perform its production and distribution obligations under the Customer Marketing Agreement, and the ability of its counterparty under the Customer Marketing Agreement to fulfill its obligations thereunder, including, but not limited to, its payment obligations, may not be correct.
Any financial outlook or future oriented financial information (in each case “FOFI”) contained in this news release regarding prospective financial position, including, but not limited to, the anticipated revenue to be received by the Corporation under the Customer Marketing Agreement, is based on reasonable assumptions about future events, including those described above, based on an assessment by management of the relevant information that is currently available. The actual results will likely vary from the amounts set forth herein and such variations may be material. Readers are cautioned that any such FOFI contained herein should not be used for purposes other than those for which it is disclosed herein. Such information was made as of the date of this news release and the Corporation disclaims any intention or obligation to update or revise any such information, whether as a result of new information, future events, or otherwise, unless required pursuant to applicable law.
Readers are cautioned that the foregoing list of assumptions and risk factors is not exhaustive. The forward-looking statements and FOFI contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements and FOFI 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.
For further information, please contact:
Stephen Giblin, Interim President & Chief Executive Officer, or Ron Love, Chief Financial Officer:
Phone: (403) 720-3239
Fax: (403) 720-3641