BIG ROCK BREWERY INC. ANNOUNCES EXPANSION AND EXTENSION OF SECOND LIEN FINANCING

CALGARY, AB , Nov. 20, 2024 /CNW/ - Big Rock Brewery Inc.  (TSX: BR) (" Big Rock " or the " Corporation ") is pleased to announce the expansion of its second lien financing (the " Second Lien Financing ") with its principal shareholder, VN Capital Fund I, LP (" VN Capital "), by $500,000 . In addition, the entire Second Lien Financing has been extended to mature on March 31, 2025 .

The expanded financing will enhance Big Rock's financial flexibility as it continues to optimize its operations and pursue its growth objectives in the ready to drink ("RTD") market. Capital investments will be prioritized to grow both the capacity and capability within the RTD Category.  The Corporation values the continued support of VN Capital, which underscores their confidence in Big Rock's long-term strategy.

Further details regarding the Second Lien Financing can be found in the Corporation's publicly available disclosure documents filed on SEDAR+ at www.sedarplus.ca .   

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 anticipated benefits to be derived from the expanded Second Lien Financing; and the expectation that Big Rock will optimize its operations and pursue its growth objectives.

With respect to the forward-looking statements listed above and contained in this press release, management has made assumptions regarding, among other things: that additional financing will lead to increased financial flexibility; and that opportunities for growth will be available to Big Rock.

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 December 30, 2023 which is available on SEDAR+ at www.sedarplus.ca and also include, but are not limited to: the risk that the expanded Second Lien Financing may not lead to the benefits anticipated; and the risk that Big Rock may not optimize its operations or meet its growth objectives.

Any financial outlook or future oriented financial information (in each case " FOFI ") contained in this press release regarding prospective financial position, including, but not limited to: the anticipated benefits to be derived from the expanded Second Lien Financing; and the expectation that Big Rock will optimize its operations and pursue its growth objectives, are 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 press 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 information and statements and FOFI contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking information and statements and FOFI 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 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 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.