Blender Bites and Julianne Hough Successfully Complete Product Collaboration

(TheNewswire)

November 18, 2024 – Vancouver, British Columbia – TheNewswire - Blender Bites Ltd. (the “Company”, “Blender Bites” or “Blender”), (CSE: BITE, FWB: JL4, WKN: A3DMEJ), a multi-award-winning Canadian company involved in the development and marketing of a line of premium, frozen functional food and beverages, is excited to announce the successful completion of its collaboration with renowned entertainer and entrepreneur, and current host of Dancing With The Stars, Julianne Hough, who is also the Company’s brand partner and ambassador.

The culmination of their partnership has resulted in the development of an innovative formula called Superberry Sport™, specifically designed for post-workout recovery and is powered by Orgain, a plant based protein brand. The Superberry Sport™ Smoothie is a USDA certified organic blend that supports optimal muscle recovery with ingredients including 6 grams of plant-based protein, tart cherry, turmeric, B-Vitamins and 14 essential vitamins and minerals for robust immune support.

The Superberry Sport™ formula caters to the needs of a fit and active audience seeking the ideal post-workout smoothie. By combining the natural power of ingredients such as maqui berry, goji berry, strawberry, and blueberry, Blender Bites, in collaboration with Hough, has crafted a flavour profile that delivers exceptional taste and functional benefits. Superberry Sport offers a convenient and effective way to support muscle recovery while reducing inflammation, making it an essential component of any fitness enthusiast's routine.

Blender Bites launched the flavour recently at one of the largest supermarket retail chains in the United States1, Publix Super Markets, Inc. (“Publix”) and addresses the demand for clean, effective, and convenient post-workout nutrition. Julianne Hough's endorsement and involvement in the creation of this exceptional product further reinforce the brand's commitment to providing high-quality functional foods that enhance overall well-being.

Julianne Hough, an avid advocate for health and wellness, expressed her excitement about the collaboration: “Creating a custom smoothie blend has been a dream of mine for some time now. As someone who maintains a rigorous workout and dance schedule, I understand the transformative impact of post-workout smoothies on the body. The Superberry Sport™ formula combines potent ingredients like tart cherry and turmeric, which have proven benefits in enhancing muscle recovery and reducing inflammation. I am thrilled to bring this exceptional product to my fans in the US market and believe it will benefit others in the same way it has benefited me.”

Blender Bites CEO, Chelsie Hodge, emphasized the significance of partnering with Julianne Hough: “Developing a formula with Julianne Hough has been an incredible experience for our Company—a milestone that many brands aspire to achieve. The Superberry Sport™ flavour was meticulously developed to cater to Julianne's fit and active lifestyle, aligning perfectly with our target market.”

Ms. Hough has agreed to receive all of her equity compensation (see Company press release dated March 24, 2023) in the form of 520,000 stock options, which will allow her to acquire an equivalent number of common shares of the Company at the greater of the market price on the date of grant or CAD$1.70 per share.

The Company also announces that it has granted 300,000 deferred share units (“DSUs”) to Chelsie Hodge. The DSUs were granted to Ms. Hodge pursuant to the Company’s equity incentive plan (the “Plan”) and pursuant to her employment agreement, which entitled her to receive an aggregate of 300,000 DSUs upon the Company achieving certain revenue milestones. Each DSU represents a right to receive one common share of the Company on the 20th business day after the date that the holder ceases service as a director (and employee) of the Company. The DSUs are subject to the terms of the Plan and the policies of the Canadian Securities Exchange (the “Exchange”). The DSUs and any common shares issued pursuant to the exercise of the DSUs are subject to a four month hold from the date of issuance of the DSUs in accordance with the policies of the Exchange.

In addition to the above, the Company’s Board of Directors has approved a grant of 150,000 Restricted Share Units (“RSUs”) to a consultant of the Company pursuant to the Plan. The RSUs vest and convert into common shares after four (4) months, and in accordance with the policies of the Exchange are subject to a hold period of four (4) months from the date of issuance.

Further, the Company’s Board of Directors have cancelled an aggregate of 250,000 stock options (the “Cancelled Options”) previously held by Chelsie Hodge and a consultant of the Company. The terms of the cancelled options were as follows:

ABOUT BLENDER BITES

Blender Bites is a multi-award-winning Canadian company involved in the development and marketing of a line of premium frozen beverage products with a focus on functionality. Blender Bites was founded in 2017 and quickly became a leader in the “easy smoothie” category in North America. With a focus on better-for-you ingredients and convenience, the Company is proud to be pre-portioned without the use of any inner plastic packaging. Blender Bites products are certified organic, non-GMO, gluten free, dairy free and soy free and contain functional ingredients such as whole food vitamins, collagen, and probiotics. Blender Bites 1-Step Smoothies and 1-Step Frappes are distributed across Canada and the US, and are currently sold in over 7,000 stores, including Walmart, Albertsons, HEB, Whole Foods and Publix.

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

Media Contact – teamblenderbites@jonesworks.com

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.

1 https://www.esmmagazine.com/retail/top-10-supermarket-retail-chains-in-the-united-states-238904

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