2022-05-07 | CSE: BITE | Press release

VANCOUVER, British Columbia, May 07, 2022 (GLOBE NEWSWIRE) — Blender Bites Ltd. (the “Company”, “Bites in the blender” or “Blender”), (CSE: BITEFWB: JL40WKN: A3DWAM), an award-winning Canadian company involved in the development and marketing of a line of premium organic and plant-based pre-portioned functional frozen foods, is pleased to provide a summary of some of the company’s outstanding achievements since its IPO in September 2021. Recent achievements include recording exceptional sales revenue, significantly increasing the number of purchase orders, strengthening its highly experienced and female-led management team, and its recognition by Canadian consumers as the most innovative and acclaimed product for 2022 in the functional frozen area. food space.

STRONG POINTS

Record turnover

Since its public listing in September 2021, Blender Bites’ sales have exploded, achieving record revenues. The exponential increase in company revenue is the result of a myriad of variables, the most notable being management’s implementation and execution of an aggressive marketing program designed to increase brand recognition and capture leading representation in the rapidly growing functional beverage market in North America. .

The Company believes that there is strong potential for continued upward revenue trends as the deployment of its aggressive marketing and sales strategy, which is still in its infancy, continues to progress (see “Significant expansion and entry into new markets” highlights below).

Upward trend in consumer demand

In the seven months since its IPO, the company has also seen a significant increase in consumer demand for its innovative smoothie rounds, with purchase orders coming in from a number ever-growing number of large distributors and large retailers. From September 1, 2021 to April 30, 2022, the Company executed purchase orders (“orders””) totaling 398,700 units (1 unit = 1 bag of 6 rounds, or 2,392,200 rounds) of its smoothie rounds, while that the twelve (12) month period prior to the company’s IPO’ date only saw orders for 68,480 units (or 410,880 pucks). The Company expects the current observed increase in sales to continue on an upward trend as consumer demand continues to grow. Thanks to recent production optimizations, the Company is well prepared to seize this opportunity.

Extensive expansion in Canada and entry into the new American market

The company’s expansion strategy has also been successful, with representation in many of Canada’s largest and most recognized retail grocery stores increasing significantly. Transitioning the company from a private to a publicly traded entity in September 2021, distribution channels grew from 700 retail outlets to over 900, including Sobeys, Loblaws, Real Canadian Superstore, Safeway, Zehr’s, Thrifty Foods, Save on Foods, Whole Foods Market, Buy-Low/Nesters and IGA. Distribution has also been greatly increased since establishing a presence in the world’s largest club chain stores in Eastern Canada. The vast increase in the breadth of its network of outlets across Canada has been largely attributed to the company’s robust revenue growth.

On February 1, 2022, the company announced the introduction of Blender Bites products to the U.S. retail market, with the first orders fulfilled to supply the United States’ Southwest Division (the “Division”) club stores of the largest chain of club stores in the world. The milestone marked the first time that Blender Bites’ brand hit shelves in the United States, with Power Berry smoothie rounds available at 41 warehouses in the division, including outlets in Texas, Louisiana, Oklahoma and Arkansas. The company is looking to build on this success by building relationships with other retail food stores and clubs, many of which are currently underway with sales waiting.

A strong management team led by women

The company’s impressive growth is a credit to Blender’s female-led leadership team of highly skilled professionals from the consumer packaged goods (CPG) industry. Blender recently appointed Ms. Arinn Ryan as Chief Marketing Officer, with more than a decade of experience at a global marketing agency and most recently at US plant-based frozen CPG company Alpha Foods. As Director of Quality Assurance and Food Safety, Carol Yung Munro is responsible for developing and ensuring testing policies, strategies and methodologies that ensure Blender’s operations and products are compliant with regulations. and standards. Leading this remarkable team is Chelsie Hodge, the company’s founder and CEO. Chelsie brings a unique skill set to the table with over a decade of experience in the high-growth plant-based GIC industry, coupled with over fifteen years in the capital markets. Chelsie has extensive knowledge of product development and manufacturing, sales and business development; making her a strong leader in bringing Blender Bites to international markets.

Award winning product

One of the company’s recent prized possessions is the 2022 Product of the Year (“POY”) Canada Award”. The Canadian Product of the Year award is Canada’s largest consumer product innovation award for consumer products companies. A survey conducted by Kantar asked 4,000 Canadian consumers to vote for their innovative product of choice in a specific category based on seven (7) key performance indicators, including ‘appeal’, ‘satisfaction’, ‘advocacy’, ‘ buying interest’, ‘uniqueness’, ‘relevance’ and ‘excitement’. Blender Bites products came out on top in the Frozen Foods/Healthy Beverages category. Included with the nomination process, Blender Bites had the opportunity to participate in a sample program, allowing consumers to test and provide honest feedback on the innovation. Blender Bites was very well received as 91% of respondents gave 5 or 4 stars with a recommendation rate of 96%. The Product of the Year award is currently running in over 40 countries with the same goal.

Blender Bites has had its most transformative year yet, and we’re incredibly proud of the solid production targets we’re consistently hitting. I am very confident that with our recent additions of high volume retail partners, a newly appointed management team, exciting innovation and secondary distribution channels; the company will continue to see exponential growth in purchase orders,” said Chelsie Hodge, CEO and founder of the company.

ABOUT BLENDER BITES

Blender Bites is an award-winning Canadian company involved in the development and marketing of a line of premium, feature-driven frozen food products. Blender Bites was founded in 2016 and was the first to market in Western Canada an “Easy Smoothie ” product free of any unnecessary plastic inner packaging. Blender Bites products are certified organic, vegan, non-GMO, gluten-free, dairy-free, and soy-free. They contain no added sugar and are made in Canada. Blender Bites products are distributed internationally in Canada and the United States and are currently sold in over 900 stores including Sobeys, Loblaws, Safeway, Save on Foods, Real Canadian Superstore, Whole Foods Market and Thrifty Foods.

On behalf of the Board of Directors,

Limited Bites Blender

Chelsie Hodge, President and CEO

For more information, contact the Blender IR team at:

Email – investors@blenderbites.com

Telephone – 1-888-997-2055

DISCLAIMER OF LIABILITY

This press release includes certain “forward-looking statements” under applicable Canadian securities laws. Forward-looking statements are necessarily based on various estimates and assumptions which, although believed to be reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially. of those expressed or implied by such forward-looking statements. These factors include, but are not limited to, general business, economic, competitive, political and social uncertainties and uncertain financial 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 statement, whether as a result of new information, future events or otherwise, except as required by law.

A photo accompanying this ad is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/71fab83c-f5ec-4814-8142-f44774cde81d



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