March 28, 2025 – Vancouver, British Columbia – Blender Bites Limited (the “Company”, “Blender Bites” or “Blender”), (CSE: BITE, FWB: JL4, WKN: A3DMEJ) is providing this bi-weekly update on the status of the management cease trade order granted on March 3, 2025 (the “MCTO”) by its principal regulator, the British Columbia Securities Commission under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”), following the Company’s announcement on February 14, 2025 (the “Default Announcement Date”) that it was unable to file its audited annual financial statements for the financial year-ended October 31, 2024 and the related management’s discussions and analysis, and CEO and CFO certificates (collectively, the “Required Filings”), which were required to be filed on or before February 28, 2025. The MCTO does not affect the ability of investors who are not insiders to trade the securities of the Company.
The Company reports that (i) there are no changes to the information contained in the bi-weekly status update dated March 14, 2025 and March 4, 2025 that would reasonably be expected to be material to an investor; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Filings is continuing, each of which will be issued in the form of a press release; (iii) there has not been any other specified default by the Company under NP 12-203, and, except as set forth below, no such other default is anticipated; (iv) the Company is not subject to any insolvency proceedings; and (v) there is no material information concerning the affairs of the Company that has not been generally disclosed.
The Company continues to work with its auditors to complete the audit of the Company’s consolidated financial statements and expects to file the required filings on or around April 29, 2025. The delays are due to the Company’s former auditor, GreenGrowth CPAs, resigning as the auditors of the Company on their own initiative on July 10, 2024 and the Company’s new auditor not being appointed until October 31, 2024, as well as the resignation of the Company’s former CFO on February 13, 2025.
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, including the timing of filing of the Required Filings by the Company. 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. All of these assumptions have been derived from information currently available to the Company including information obtained by the Company from third-party sources. 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.