Blender Bites Signs Definitive Agreement to Acquire Advanced Sports Nutrition Inc. and Targets Athletic Recovery with NFL-Funded Clinical Trial

VANCOUVER, British Columbia, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Blender Bites Limited. (the “Company”, “Blender Bites” or “Blender”), (CSE: BITE, FWB: JL4, WKN: A3DMEJ), is excited to announce it has entered into a share purchase agreement dated November 3, 2023 (the “Agreement”) pursuant to which it will acquire (the “Acquisition”) all of the issued and outstanding share capital of Advanced Sports Nutrition Inc. (“Advanced Sports Nutrition”).

Advanced Sports Nutrition holds intellectual property rights to the scientific data and discoveries derived from a human clinical trial on the optimal dosage of cannabidiol (CBD) for athletic recovery (the “Clinical Trial”). The Clinical Trial is being conducted at the University of Regina and was awarded over US$500,000 in funding from the National Football League (the “NFL”).

Chelsie Hodge, CEO of Blender Bites, stated, “Our goal at Blender Bites has always been to innovate and enhance the wellness of our customers. By acquiring Advanced Sports Nutrition and its unique assets, we will be able to target the athletic drink market, a $25.75 billion industry¹ that we previously did not have exposure to. Our goal is to be able to develop then roll out a product to our vast existing retail distribution channels across North America. We believe this acquisition will offer significant strategic advantages that will drive our growth and innovation.”

The Company believes the Acquisition will host a number of compelling benefits. Foremost, the Acquisition presents an opportunity to introduce a new product into Blender Bites’ portfolio. Targeting a distinct demographic, it could set the stage for additional sales generation through Blender Bites’ existing distribution network. Moreover, a product line could represent a one-stop solution by seamlessly combining elements of training and recovery into a single sports drink, simplifying athletes’ nutritional regimens. Additionally, it enhances visibility and credibility for the brand, through having a human clinical trial funded by the NFL. Blender Bites profile is significantly elevated through this affiliation, and potentially piques’ the interest of a new demographic of customers, enticed by this major sports league. Notably, it grants exclusive access to data from elite athletes, providing invaluable insights into the product’s effectiveness.