Sees Significant Increase in Demand From New and Existing Sales Channels
July 20, 2022 – Vancouver, British Columbia – Blender Bites Ltd. (the “Company”, “Blender Bites” or “Blender”), (CSE: BITE, FWB: JL4, WKN: A3DMEJ), an award winning Canadian company involved in the development and marketing of a line of premium, organic and plant-based pre-portioned frozen functional foods, is pleased to announce that it is anticipating pursuing a potential graduation of its listing to a major exchange, a move, the Company believes, will allow it to broaden its financing opportunities by attracting both institutional and retail investors, and also further the Company in its growth and expansion.
Blender Bites has experienced rapid progress over the past year, especially during the first two quarters of 2022, as demand from new and existing sales channels have increased significantly. The Company anticipates further robust growth moving forward based on management’s 2022 production order projections from major distribution and retail stores in Canada and the United States.
Listing on a major exchange would demonstrate our commitment and determination to increase shareholder value while also enhancing our exposure by increasing our investor audience,” stated Nima Bahrami, Director of the Company.
Readers are cautioned that while the Company is considering a potential graduation of its listing, a listing application has not been submitted to any other stock exchange at this time, nor has the Company made any decision to proceed with a listing application. Completion of any graduation is subject to regulatory approval and the satisfaction of applicable listing requirements. There can be no assurance that any graduation will take place, or that the consolidation will result in the Company meeting applicable listing requirements.
Prior to completing any new listing application, the Company will be required to prepare and submit an annual information form, secure additional financing to satisfy working capital requirements, demonstrate continued revenue growth and the ability to generate a profit from operations, and satisfy public distribution requirements.
ABOUT BLENDER BITES
Blender Bites is an award winning Canadian company involved in the development and marketing of a line of premium frozen food products with a focus on functionality. Blender Bites was founded in 2016 and was first to market in Western Canada with a pre-portioned “easy smoothie” product that is free of any unnecessary inner plastic packaging. Blender Bites products are certified organic, vegan, non-GMO, gluten free, dairy free and soy free. They contain no added sugars and are made in Canada. Blender Bites products are distributed internationally across Canada and the US, and are currently sold in over 900 stores, including Sobeys, Loblaws, Safeway, Save on Foods, Real Canadian Superstore, Whole Foods Market, Buy-Low/Nesters, IGA, Thrifty and Fresh Street.
On behalf of the Board of Directors,
Blender Bites Limited
Chelsie Hodge, Chief Executive Officer
For further information, contact Blender IR Team at:
Email – investors@blenderbites.com
Telephone – 1-888-997-2055
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.