VANCOUVER, British Columbia, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Blender Bites Limited. (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 a record number of purchase orders received in the three months from May 2023 to July 2023.
Blender Bites is pleased to announce that during the three months from May 2023 to July 2023, the Company has received purchase orders totalling CA$1,869,000. This is a historic record for the value of purchase orders received by the Company in any given period and represents an increase of over 125% in total value of purchase orders compared to the same period in 2022. It also represents a 158% increase in total value of purchase orders received for the three month period of February 2023 to April 2023, demonstrating the growth of the Company.
The historic increase over this period can be attributed to initial orders received from its Walmart Canada launch, the beginning of the US roll out, and increased demand in the 1000+ Canadian retail grocery and club stores. The increase does not reflect any orders the Company anticipates receiving once its US expansion is fully implemented in the upcoming months.
The Company's management feels that the upward trend for the number of purchase orders received, and subsequently sales revenue, will continue this positive trajectory, as there is great potential still to be realized once the Company's US strategies are implemented. The Company's imminent US expansion is expected to happen at the end of summer, with products launching into some of the largest retail chains in the world, which could lead to even greater increases in purchase orders received.
"The historic number of purchase orders we received over the last three months speaks to how well the Company has been doing. Not only are our Canadian operations performing well, but the initial launch of our US strategy has been successful. I believe that these numbers will only increase once we implement the full US expansion we have scheduled for the end of summer. I am incredibly excited for the trajectory we are on and where it will go in the future," stated Chelsie Hodge, the Company's CEO and Founder.
The Company cautions that the above figures have not been audited and are based upon calculations prepared by management. Actual results may differ from those reported in this release once these figures have been audited, and there can be no guarantee that purchase orders will result in increased sales revenue for the Company.
ABOUT BLENDER BITES
Blender Bites is a multi award-winning Canadian company involved in the development and marketing of a line of premium, frozen functional food and beverages. Blender Bites products are made with organic ingredients, non-GMO, gluten free, dairy free and soy free. Blender Bites was founded in 2016 and first launched to market in Western Canada in 2017 with a pre-portioned 1-Step Smoothie product that is free of any unnecessary inner plastic packaging. Blender Bites products are now distributed internationally across Canada and the US, are currently sold in over 1000 stores, including Walmart, Sobeys, Loblaws, Safeway, Save on Foods, Real Canadian Superstore, Whole Foods Market, Buy-Low/Nesters, IGA, and Thrifty's.
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.
