04:25:55 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Odd Burger Corp
Symbol ODD
Shares Issued 92,694,417
Close 2024-05-01 C$ 0.13
Market Cap C$ 12,050,274
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Odd Burger plans three restaurant openings

2024-05-02 12:17 ET - News Release

Mr. James McInnes reports

ODD BURGER SET TO OPEN RECORD NUMBER OF LOCATIONS AND PROVIDES CORPORATE UPDATE

Odd Burger Corp. is expecting to open three new Odd Burger restaurant locations in the next month. This represents the greatest number of locations opened in a one-month period in the company's history and will bring the total number of operational locations up to 16.

The first location is set to open at 336A Mayfield Common Northwest in Edmonton, Alta., and is expected to open on or around May 11, 2024. The Edmonton location is the second location to open in the province of Alberta and is situated in a busy plaza anchored by Save-on-Foods and major retailers such as Planet Fitness and Winners.

The company is also pleased to announce that it will be opening its first location in British Columbia at 790 Fisgard St. in Victoria. This location is expected to open on or around May 18, 2024, and is centrally located in downtown Victoria. The Victoria location will feature interior seating for over 16 people, an outdoor patio and ample parking on the surrounding streets.

Odd Burger will also be opening its first location in Ottawa, Ont., at 1050 Bank St. on or around June 1, 2024. The Ottawa location is conveniently located just south of the Glebe neighbourhood, a historic and highly desirable area of Ottawa filled with shopping, boutiques, restaurants and green spaces. The restaurant will feature ample interior seating, a large patio and will have delivery available to nearby Carlton University.

"We are absolutely elated to finally see all of these locations opening after so much hard work from our franchisees, area reps and corporate team members," says James McInnes, chief executive officer and co-founder of Odd Burger. "These sites are all incredibly strategic for us and will give Odd Burger access into key markets right across Canada. We believe they will service a key demographic for us and will open a lot of growth possibilities as new customers get to experience Odd Burger for the first time."

Although all restaurant opening dates are believed to be achievable, delays may be possible once final inspections are done by the municipalities. All grand opening details and final confirmed opening dates will be published on the company's social media accounts.

Corporate update

The company is pleased to announce that it has signed a consulting agreement with Ahimsa Foundation for business advisory services. In connection with the consulting agreement, Odd Burger will issue Ahimsa Foundation 1.5 million stock options at a price of 15 cents, vesting immediately on execution of the consulting agreement.

Ahimsa Foundation is working to accelerate the shift toward a more sustainable, and ethical future by actively investing to transition a food system away from animal proteins to healthier and more sustainable options. Ahimsa Foundation is one of the largest investors in the vegan and alternative-protein industry, including a recent major investment of $16-million (U.S.) in Just Egg in September, 2023.

About Odd Burger Corp.

Odd Burger is a franchised vegan fast-food restaurant chain and food technology company that manufactures a proprietary line of plant-based protein and dairy alternatives. Its manufactured products are distributed to Odd Burger restaurant locations through its food service line and also sold at grocery retailers through its consumer packaged goods (CPG) line. Odd Burger restaurants operate as smart kitchens, which use state-of-the-art cooking technology and automation solutions to deliver a delicious food experience to customers craving healthier and more sustainable fast food. With small store footprints optimized for delivery and takeout, advanced cooking technology, competitive pricing, a vertically integrated supply chain, along with healthier ingredients, Odd Burger is revolutionizing the fast-food industry by creating guilt-free fast food that can be enjoyed at its restaurant locations or at home though its CPG line. Odd Burger is traded on the TSX Venture Exchange under the symbol ODD and on the OTCQB under the symbol ODDAF.

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