Business
Blender Bites Extends Facility Loan with Export Development Canada, Announces Director Resignation and Engages Bunt Capital
Blender Bites Extends Facility Loan with Export Development Canada, Announces Director Resignation and Engages Bunt
About this update from Blender Bites Limited
[{"type":"text","content":"(via TheNewswire)\n\n \n \n\n \n\nMarch 26, 2025 – Vancouver, British Columbia –TheNewswire -Blender Bites Ltd. (the “Company”, “Blender Bites”, “Blender” or the “Borrower”), (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, announces that it has entered into an agreement (“Amending Agreement”)with Export Development Canada(“EDC”) to establish a new $500,000 Bridge Facility (“Bridge Facility”) in addition to the existing $2,000,000 Facility Loan from EDC (see Company press release datedNovember 9, 2023). The Bridge Facility will be repayable on demand and will mature on the date on which the Borrower completes a sale of its shares or 90 days from the date of the Bridge Facility advance. \n \n \n\n \n\nThe Company also announces the resignation of Mr. Grant Smith from its Board of Directors, effective March 20, 2025. The Board of Directors thanks Mr. Smith for his contributions to the Company and wishes him the best in his future endeavors. \n\n \n\nIn addition, the Company also announces that it has engaged Bunt Capital Corporation (“Bunt Capital”) (business address: 64 Russell Hill Road, Toronto, ON M4V 2T2; website: www.buntcapital.com) to provide consulting services related to mergers and acquisitions (M&A) (the \"Services\"). As compensation, the Company has agreed to grant 25,000 stock options and 95,000 restricted share units to Bunt Capital, under its equity incentive plan. No additional securities have been issued to Bunt Capital or its principals beyond this grant. \n\n \n\nABOUT BLENDER BITES \n\n \n\nBlender 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 Frapp...