TORONTO, June 14, 2022 /CNW/ - Odd Burger Corporation (TSXV: ODD) (OTCQB: ODDAF) (FSE: IA9), one of the world's first vegan fast-food chains and the first to go public, announced today that it has executed a franchise agreement for a new restaurant location in Edmonton, Alberta.
This will be Edmonton's first Odd Burger location and the second location under development in the province of Alberta. Franchisees Jasmin and Maheshkumar Patel are currently seeking an ideal location to bring Odd Burger's vegan fast food to the city of Edmonton, and they will be working closely with their local area representative, Utsang Desai from Sai-Ganesh Enterprises (SGE) to expedite the process.
"The city of Edmonton presents an incredible opportunity because of its large population and relatively limited selection of affordable plant-based restaurants," said Utsang Desai, President of SGE. "We are confident that the people of Edmonton will crave Odd Burger just as much as they have across Ontario."
In Calgary, Joanna and Jay Gandhi are in the process of submitting permits to the city for their location at 1515 14th Street SW. Construction is set to commence this summer, once permits are approved.
In March 2022, Odd Burger signed an area representative agreement with SGE to bring 36 additional locations to Alberta and British Columbia over the next 7 years. Edmonton is the first franchise executed under the SGE area representative agreement where the group will oversee site selection, construction, and store deployment.
"We are seeing a significant acceleration of our growth in Western Canada ever since we started working with the SGE group," said James McInnes, Odd Burger Co-Founder and CEO. "Area representative agreements are an essential part of our growth strategy and it's exciting to see the benefits of these partnerships already."
In June 2022, Odd Burger signed a second area representative agreement in Ontario with Starke Investments that will bring 40 new locations to the province over 8 years. In total, Odd Burger now has 92 locations operational or under area development agreements in Canada, making it one of the fastest growing vegan restaurant chains in the country.
Odd Burger is pleased to announce that it has been included in the VegTech™ Plant-Based Innovation and Climate Exchange-Traded Fund (ETF) listed on the New York Stock Exchange under the ticker symbol "EATV". Inclusion in the actively managed fund is a significant milestone for Odd Burger as it broadens the Company's investor base in the United States and provides investors with additional confidence that Odd Burger has met specific criteria as a sustainable and innovative company.
EATV is the only ETF focused on investing in companies with food-based innovations and technologies to make animal-free primary products. To qualify for inclusion in the VegTech™ ETF, companies must be working towards a more efficient, climate-friendly and sustainable food and materials supply system. Specifically, the four main categories in which EATV invests are:
- Cultivated meat and precision fermentation;
- Plant-based food and beverages;
- Agriculture technology and science; and,
- Plant-based material.
The VegTech™ ETF invests in small, medium and large cap companies. EATV's mission is to provide a carefully screened fund for investing in innovators of sustainable, plant-based solutions. More information about the VegTech™ ETF can be found by visiting the following website: https://eatv.vegtechinvest.com/
About Odd Burger Corporation
Odd Burger Corporation is a chain of company-owned and franchised vegan fast-food restaurants as well as a food technology company that manufactures and distributes a line of plant-based protein and dairy alternatives under the brand Preposterous Foods to foodservice channels. 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. Odd Burger Corporation is traded on the TSX Venture Exchange under the symbol ODD, on the OTCQB under ODDAF, and the Frankfurt Stock Exchange under IA9. For more information visit https://www.oddburger.com.
Caution Regarding Forward-Looking Information
This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements that relate to among other things, the Company's strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to currency rates); changes in laws and regulations; legal and regulatory proceedings; and the ability to execute strategic plans. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Odd Burger Corporation