01:44 PM EDT, 08/02/2024 (MT Newswires) -- Blender Bites (BITE.CN) on Friday said it intends to raise $1.2 million through a private placement of up to 1.88-million units priced at $0.64 each.

The frozen beverage company says each unit is made up of a share and one-quarter of a three-year warrant to buy a second share for $0.80.

Proceeds will be used for operational expenses.

Blender Bites was last seen up $0.01 to $0.81 on the Canadian Securities Exchange.

Price: 0.81, Change: +0.01, Percent Change: +1.25