09:06 AM EDT, 08/12/2024 (MT Newswires) -- Big Rock Brewery ( BRBMF ) said on Monday that it signed a new three-year production and sales agency agreement with a strategic partner.

Under the terms, Big Rock will produce at least 50,000 hectoliters per year of various ready-to drink (RTD) alcoholic beverages at its brewing, packaging and warehousing facility in Calgary.

The company will also be responsible for selling the RTD products destined for the Alberta market.

Big Rock said it expects the anticipated increased volumes to help balance its overall production levels, providing for manufacturing economies of scale.

"We believe that the signing of the agreement marks a positive step forward as we continue to work to grow volumes and revenues consistent with our strategic plan," President and CEO David Kinder said. "We expect the addition of these volumes will allow us to leverage our existing capacity and take advantage of the greater functionality of our recently introduced high-speed, continuous-motion packaging equipment, the QuikFlex 2100G.

Big Rock traded at 52-week lows of $1.13 last Friday.