VANCOUVER, British Columbia, Jan. 06, 2022 (GLOBE NEWSWIRE) — Blender Bites Ltd. (the “Company”, “Blender Bites” or “Blender”), (CSE: BITE, FWB: JL4, WKN: A3C3Y2), a Canadian company involved in the development and marketing of a line of premium, organic and plant-based pre-portioned frozen functional foods, announces that it will undertake a forward share split (the “Forward Split”) in which existing shareholders of the Company will receive 1.25 common shares in exchange for every existing common share of the Company.
As of the date of this news release, there are currently 29,582,624 common shares of the Company outstanding. Following completion of the Forward Split, the Company will have approximately 36,978,280 common shares outstanding. Management of the Company is of the view that the Forward Split will help to improve liquidity, reduce the recent volatility in the market and address potential short-selling activity.
Following completion of the Forward Split, shareholders of the Company who hold common shares represented by a physical certificate will receive a letter of transmittal from the transfer agent for the Company, Computershare Trust Company of Canada, with instructions on how to exchange their existing certificates for post-Forward Split certificates.
The Company will provide further information regarding the Forward Split, including the applicable effective dates, as soon as it becomes available. Completion of the Forward Split remains subject to the approval of the Canadian Securities Exchange.
About Blender Bites
Blender Bites is a 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 850 stores, including Sobeys, Safeway, Save on Foods, Whole Foods Market, Buy-Low/Nesters, IGA 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 – [email protected]
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.