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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

Subject: Blender Bites (CSE: BITE) Press Release for Immediate Dissemination Word Document File: '\\swfile\EmailIn\20230901 131849 Attachment 09012023_BB_PR_BITE_Announces_Financing.docx' CSE: BITE | FWB: JL4 Suite 800 - 1199 West Hastings Street Vancouver, BC V6E 3T5 Blenderbites.com investors@blenderbites.com 1-888-997-2055 CSE: BITE | FWB: JL4 NEWS RELEASE THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Blender Bites Announces Non-Brokered Private Placement September 1, 2023 - 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 proposes to complete a non-brokered private placement (the "Financing") of up to 666,667 units of the Company (each, a "Unit") at a price of $3.00 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. 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 CAUTIONARY DISCLAIMER STATEMENT This news release includes certain "forward-looking statements" under applicable Canadian securities legislation, including with respect to the completion of additional tranches of the Offering and the intended use of funds of the First Tranche Offering. 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. The CSE has neither approved nor disapproved the contents of this press release, and the CSE does not accept responsibility for the adequacy or accuracy of this press release.