Ms. Chelsie Hodge reports

BLENDER BITES CLOSES PREVIOUSLY ANNOUNCED FINANCING

Blender Bites Ltd. has closed its previously announced private placement financing, as described in its press releases of Aug. 22, 2024, and Aug. 16, 2024, resulting in the issuance of 1,875,000 units of the company at a price of 64 cents per unit for aggregate gross proceeds of $1.2-million. Each unit consist of one common share of the company and one-quarter of one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at a price of 80 cents at any time on or before that date which is 36 months after the closing date of the offering.

Units in the offering were offered for sale to purchasers resident in Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions, and will not be subject to any statutory hold period in accordance with applicable Canadian securities laws.

The company intends to use the net proceeds of the offering for operational expenses, including raw material purchases, retailer listing fees, marketing related expenses and for general working capital purposes.

In connection with the closing of the offering, Canaccord Genuity Corp., as finder, received a cash commission of $80,500.00, as well as 125,781 broker warrants. Each agent warrant is exercisable to acquire one common shares of the company for 80 cents and exercisable at any time prior to the date that is 36 months from the closing date of the offering. The company also issued 37,500 common shares (the admin fee shares) to Amalfi Corporate Services Ltd. for its assistance with the offering. The agent warrants (and underlying securities thereof) and the admin fee shares are subject to a statutory hold period of four months and one day.

MI 61-101 disclosure

Amalfi, a private company controlled by Geoff Balderson, chief executive officer of the company, will receive an aggregate total of 37,500 admin fee shares in consideration for administrative services rendered in connection with the offering. The issuance of the admin fee shares to Amalfi is considered to be a related party transaction as defined under Multilateral Instrument 61-101. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the issuance of the admin fee shares issued to Amalfi do not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101. The company did not file a material change report more than 21 days before the expected closing of the offering as closing occurred on an expedited basis.

About Blender Bites Ltd.

Blender Bites is a multiaward-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 preportioned without the use of any inner plastic packaging. Blender Bites products are certified organic, non-GMO (genetically modified organism), 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 United States, and the company's products are available in over 5,000 retail locations, including Walmart Canada, Walmart USA, Whole Foods Market, Loblaws, Publix Super Markets, Winn-Dixie, H-E-B and the Albertsons group of companies.

We seek Safe Harbor.