December 19, 2023 – Vancouver, British Columbia – Blender Bites Limited (the “Company” or, “Blender Bites”), (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 strategic measures aimed at optimizing its operations for the benefit of the Company’s long-term growth.
In particular, the Company has made the decision not to renew the services contract of Mr. Steve Pear in his role as Chief Operating Officer of the Company, effective December 11, 2023. This decision reflects the Company’s commitment to streamlining its operations and ensuring that its leadership team is well-aligned with the evolving needs of the business. Blender Bites extends appreciation to Mr. Pear for his contributions and dedication to the Company during his tenure and wishes him success in his future endeavors.
The Company also announces that certain parties have voluntarily agreed to return an aggregate of 410,000 common shares of the Company (“Shares”) to the Company’s treasury. Specifically, Shares issued to an insider and certain consultants of the Company, including Shares issued pursuant to the Company’s equity incentive plan, have been voluntarily returned to the Company’s treasury and subsequently cancelled.
Blender Bites remains focused on its mission to be a leader in the frozen functional food and beverage industry. These strategic actions are part of an ongoing effort to position the Company for sustained growth and operational excellence.
ABOUT BLENDER BITES
Blender Bites is an 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 5000 stores, including Walmart Canada, USA and the Albertsons group of Companies.
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 may include 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.