03:53:46 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Blender Bites Ltd
Symbol BITE
Shares Issued 6,167,783
Close 2023-09-01 C$ 3.15
Market Cap C$ 19,428,516
Recent Sedar Documents

Blender Bites arranges $2-million private placement

2023-09-01 16:46 ET - News Release

Ms. Chelsie Hodge reports

BLENDER BITES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Blender Bites Ltd. is propsing to complete a non-brokered private placement of up to 666,667 units of the company at a price of $3 per unit, for gross proceeds of up to $2,000,001. Each Unit will consist of one (1) common share (each, a "Share") of the Company and one (1) common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder, on exercise, to purchase one (1) Share for a period of five (5) years following the closing date of the Financing at an exercise price of $3.30 per Share.

The Company intends to use the net proceeds of the Financing for the expansion of US operations, raw material purchases, product related marketing and advertising and to provide general working capital to support operations.

In connection with the Financing, the Company may pay finders' fees and/or issue finders' warrants on the same terms as the Warrants, to eligible parties who have assisted by introducing subscribers to the Financing.

The Company will issue common shares of the Company to Amalfi Corporate Services Ltd., equal to 2% of the aggregate Units issued, in consideration for administrative services rendered in support of the Financing. Pursuant to applicable securities laws, all securities issued under the Financing will be subject to a statutory hold period of four months and one day.

Closing of the proposed Financing is anticipated to occur on or before October 8, 2023.

Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States or to, or for the account or benefit of, persons in the United States or U.S. Persons nor shall there by any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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.

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