Blender Bites Ltd C.BITE

Blender Bites Announces Forward Share Split

[Parker5295]

https://www.globenewswire.com/news-release/2022/01/07/2362892/0/en/Blender-Bites-Announces-Forward-Share-Split.html

Blender Bites Announces Forward Share Split

January 06, 2022 19:30 ET | Source: Blender Bites Limited

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 - [e-mail]
Telephone - 1-888-997-2055