MONTREAL — Functional chocolate maker Mid-Day Squares is introducing several significant product changes. Nick Saltarelli, co-founder and co-chief executive officer, discussed the updates in a video shared across the brand’s social media channels.

“The biggest change we’re announcing is we’re going to be moving from two squares per package to one square per package,” Mr. Saltarelli said. “Why are we even going to one square? The answer is pretty simple. This is what you guys want. We’ve read the reviews. We’ve read the comments. It is so obvious that you want to be able to eat one square at a time.”

Additionally, Mid-Day Squares is reformulating its recipes, transitioning from organic chocolate but remains committed to sourcing fair trade certified cocoa. The company is dropping ingredients including yacon syrup, sacha inchi protein concentrate, hemp protein concentrate, prune juice concentrate, pumpkin seeds and gluten-free dehulled oats from its formulations and is adding ingredients, including organic tapioca syrup, olive oil, organic pea protein, organic gluten-free flour, organic fava bean protein, organic carob protein, organic date syrup, organic cherry juice concentrate and vanilla extract.

The products will remain Non-GMO Project verified, vegan, kosher, gluten-free and soy-free with no preservatives, Mr. Saltarelli said. He said the new recipes taste better while reducing sugar in each serving to 4 grams from 5 grams.

“Mid-Day Squares is 100% committed to ultra clean label,” he said. “That is something that is not changing.”

Finally, the company is increasing prices to manage higher costs. A one-square pack will cost $2.49 to $2.99, Mr. Saltarelli said.

“Over the last three years, we’ve seen all of the ingredient costs continue to rise,” he said. “Our packaging costs have continued to rise. Logistics are out of control. This is literally the only way for us to stay in business. We are not making more money by increasing prices.”

The revamped products will start shipping June 1, he said. Products are available throughout Canada, including Walmart nationwide, and the United States, including Sprouts Farmers Market nationwide and Whole Foods Market in select regions.

The announcement comes on the heels of recent funding. Mid-Day Squares in April said it had raised $10 million in Series C financing led by Siddhi Capital. The new capital will support expanded retail distribution and construction of a manufacturing facility in the United States, according to the company.