LONDON,
ON, Aug. 22, 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,
today announced that it has signed four new Franchise Agreements in
the last thirty days – a record number for the Company. The new
franchise locations will be in Surrey
BC, Brampton ON, Oakville ON and Regina SK.
The Surrey, BC Franchise
Agreement was signed with Christopher & Kiran
Kroh. The franchisees
are currently seeking a location in South
Surrey and, once a location is secured, plan to open some
time in 2023. The location
will be the third Franchise Agreement signed in the Province of
British Columbia with the two
other locations slated to open in Victoria and Vancouver.
A Franchise Agreement was also executed for the previously
announced Brampton, ON location
at 9055 Airport Road, Brampton, ON. Franchisees
Jayant Ahluwalia and Divneet Kaur will take over operations at the
Brampton location prior to the
store opening. Construction at the Brampton location is nearing completion and
the location is expected to open in September, 2022 pending
approval from local municipal
authorities. Grand opening
details will be announced on the Company's social media accounts in
the near future. Odd Burger currently has 7 other locations
operational in Ontario.
The Company also executed a Franchise Agreement for a
location in Oakville,
ON. Franchisees Vijaykumar
& Trupti Mehta plan to open
their location at Dorval Crossing West, Oakville, ON which was previously secured by
Odd Burger and will be subleased to the franchisees pending
approval from the landlord. The franchisees plan to start the
process of obtaining permits soon with construction to begin once
permits are approved.
Odd Burger is also pleased to announce its first location
in the Province of
Saskatchewan. A Franchise
Agreement was executed between the Company and Jatin Arvindbhai Patel, Anilkumar Jivanlal
Patel, and Kuldipsinh Vaghela for a location in Regina,
SK. The franchisees are
currently seeking an ideal location to open up their Odd Burger
franchise as it will be one of the first vegan fast food chains to
operate in Saskatchewan. This
will be the third Franchise Agreement executed in Canada's prairie provinces, with two other
locations previously announced in Calgary and Edmonton Alberta.
"We are seeing a rapid acceleration of our franchising
operations all across Canada,"says
James McInnes, co-founder and CEO of
Odd Burger. "The strategic
partnerships with our area representatives are proving to be
extremely effective as they have brought in incredibly passionate
franchisees that believe in our mission and will help make Odd
Burger the world leader in vegan fast food".
Previously, Odd Burger signed two Area Representative
Agreements that will see over 76 additional locations opening in
the next 8 years in Ontario,
British Columbia and Alberta. As it currently stands, the company
has signed a total of 10 new Franchise Agreements in addition to
its operational franchise in Windsor,
ON and its 6 other corporate locations in
Ontario. As it plans to launch in the U.S. soon, the
Company has also established a Delaware-based franchisor corporation and has
largely completed its U.S. Franchise Agreement.
Those interested in Odd Burger franchising opportunities
can
visit https://oddburger.com/pages/franchise-what-we-offer.
Odd Burger Launches
Mobile App
Odd Burger is pleased to announce the launch of a newly
developed mobile application for both Apple and Android based
mobile devices. The mobile app
will provide customers with a loyalty program whereby customers can
receive points when they place orders on the app and then customers
are able to redeem those points for Odd Burger food or credits
towards future purchases.
Customers can also receive a free Famous Burger when they
download the app and place their first order. In addition, the
company has implemented a referral program in which both the
customer and their friend receive five
dollars towards their next purchase when they refer a friend
to download the app and after that friend places their first
order.
The mobile app launched on August
17th and was downloaded by nearly 1000 new users in the
first 48 hours. Odd Burger
worked with Smooth Commerce to develop the app and successfully
launch it into the marketplace.
"We are blown away by the degree of interest in our new
mobile app," says James McInnes,
co-founder and CEO of Odd Burger. "The huge initial uptake of our
Odd App demonstrates the passion that our customers have for our
brand and their excitement to share it with their friends and
family".
"We are extremely excited to partner with the Odd Burger
team to implement some of the most sophisticated mobile app
technology available for the restaurant industry," says
Brian Deck, CEO of Smooth Commerce.
"Utilizing the Smooth Commerce platform reduces the technology
burden for our partners and provides their customers with a
seamless user experience that would otherwise take years to
develop. We look forward to
watching Odd Burger's sales and customer base grow as a result of
the new program".
Board and Officer
Composition Update
The Company is pleased to announce that Francois Arbour has joined Odd Burger's Board of
Directors. Arbour is a serial entrepreneur, technologist, and
investor with more than 20 years of experience in digital
marketing, e-commerce, and technology. He is currently the
co-founder and CEO
of designstripe.com, a design tool
for non-designers. Francois
founded Premiumbeat.com in 2004
as one of the first websites to sell royalty-free stock music
online. He
sold Premiumbeat.com to
Shutterstock in 2015, where he stayed on as an executive for 2
years. Francois then invested in more than 80 startups, including
companies like Oura Ring, Fightcamp,
Palantir and Instacart.
The Board of Directors is now comprised of James McInnes (Chairman), Vasiliki McInnes, Edward
(Ted) Sehl, Michael Fricker,
Bill McDonald and Francois Arbour. Bill McDonald will not be standing for election
at the next shareholders meeting and will be replaced at that time
by Utsang Desai.
Officers of the company are comprised of James McInnes (President and CEO), Ted Sehl (CFO), Vasiliki
McInnes (COO), Avra Epstein
(Vice President, Marketing) and Trevor
Wong-Chor (Corporate Secretary).
Granting of Stock
Options
An aggregate of 150,000 options to purchase company shares
exercisable at a price of $0.40 for a
period of five years has been issued to Arbour in connection with
his appointment to the Board of Directors.
The Company has determined that exemptions from the
various requirements of TSX Venture Exchange Policy 5.9 are
available for the grant of these Options. The Options are subject
to TSX Venture Exchange acceptance.
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. Forward
looking information contained or referred to in this news release
includes statements relating but not limited to: completion of the
new manufacturing facility, the impact of the development agreement
in the areas discussed; the expected future expansion of Odd Burger
locations and the number of franchises and the benefits the Company
expects to derive therefrom; as well as the number of retail
outlets to be opened and the Canada Small Business Financing
Program discussed herein. 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:
financing risk, 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.
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SOURCE Odd Burger Corporation