March 26, 2025 – Vancouver, British Columbia – Blender Bites Ltd. (the “Company”, “Blender Bites”, “Blender” or the “Borrower”), (CSE: BITE, FWB: JL4, WKN: A3DMEJ), a multi-award-winning Canadian company involved in the development and marketing of a line of premium, frozen functional food and beverages, announces that it has entered into an agreement (“Amending Agreement”) with Export Development Canada (“EDC”) to establish a new $500,000 Bridge Facility (“Bridge Facility”) in addition to the existing $2,000,000 Facility Loan from EDC (see Company press release dated November 9, 2023). The Bridge Facility will be repayable on demand and will mature on the date on which the Borrower completes a sale of its shares or 90 days from the date of the Bridge Facility advance.
The Company also announces the resignation of Mr. Grant Smith from its Board of Directors, effective March 20, 2025. The Board of Directors thanks Mr. Smith for his contributions to the Company and wishes him the best in his future endeavors.
In addition, the Company also announces that it has engaged Bunt Capital Corporation (“Bunt Capital”) (business address: 64 Russell Hill Road, Toronto, ON M4V 2T2; website: www.buntcapital.com) to provide consulting services related to mergers and acquisitions (M&A) (the “Services“). As compensation, the Company has agreed to grant 25,000 stock options and 95,000 restricted share units to Bunt Capital, under its equity incentive plan. No additional securities have been issued to Bunt Capital or its principals beyond this grant.
ABOUT BLENDER BITES
Blender Bites is a multi-award-winning Canadian company involved in the development and marketing of a line of premium frozen beverage products with a focus on functionality. Blender Bites was founded in 2017 and quickly became a leader in the “easy smoothie” category in North America. With a focus on better-for-you ingredients and convenience, the Company is proud to be pre-portioned without the use of any inner plastic packaging. Blender Bites products are certified organic, non-GMO, gluten free, dairy free and soy free and contain functional ingredients such as whole food vitamins, collagen, and probiotics. Blender Bites 1-Step Smoothies and 1-Step Frappes are distributed across Canada and the US, and are currently sold in over 7000 stores, including Walmart, Albertsons, HEB, Whole Foods and Publix.
On behalf of the Board of Directors,
Blender Bites Limited
Chelsie Hodge, Chief Executive Officer
Email – chelsie@blenderbites.com
Telephone – 236-521-0626
For further information, contact Blender IR Team at:
Email – investors@blenderbites.com
Telephone – 1-888-997-2055
Media Contact – teamblenderbites@jonesworks.com
CAUTIONARY DISCLAIMER STATEMENT
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties, and uncertain capital markets. Readers are cautioned that actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.