Blender Bites Limited announced a non-brokered private placement of up to 666,667 units at a price of $3 per unit for the aggregate gross proceeds of $2,000,001 on September 1, 2023. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one share for a period of 5 years following the closing date of the financing at an exercise price of $3.30 per share.

In connection with the financing, the company may pay finders' fees and issue finders' warrants on the same terms as the warrants, to eligible parties who have assisted by introducing subscribers to the financing. The company will issue common shares of the company to Amalfi Corporate Services Ltd., equal to 2% of the aggregate units issued, in consideration for administrative services rendered in support of the financing. Pursuant to applicable securities laws, all securities issued under the financing will be subject to a statutory hold period of four months and one day.

The transaction is expected to close on or before October 8, 2023.