LONDON,
ON, Oct. 5, 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 launched its franchising operations in
the United States.
Odd Burger has formed a Delaware corporation that will serve as the
franchisor of, and that will operate, Odd Burger's U.S. franchise
division ("Odd Burger U.S."). Odd Burger U.S. has completed
the preparation of its initial Franchise Disclosure Document and
Franchise Agreement for use in the United
States and intends to begin offering and selling franchises
in 25 U.S. States, including: Alabama, Alaska, Arizona, Arkansas, Colorado, Delaware, District
of Columbia, Idaho,
Iowa, Kansas, Massachusetts, Mississippi, Missouri, Montana, Nevada, New
Hampshire, New Jersey,
New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Vermont, West
Virginia, and Wyoming.
Odd Burger U.S. also intends to begin the process of filing its
franchise offering with certain additional U.S. States where
filings are required to be completed prior to any offers or sales,
including Florida,
Indiana, Kentucky, Michigan,
Nebraska, South Dakota, Texas, Utah,
and Wisconsin. The process is
expected to be completed by the end of November 2022.
"We could not be more excited to initiate our U.S. expansion and
extend our brand to millions of people in the U.S. market," says
James McInnes, Co-Founder and CEO of
Odd Burger. "We have already received hundreds of inquiries from
potential franchisees in the U.S. and now we will begin the process
of finding the perfect franchise partners to work with."
In addition to seeking individual franchise partners, Odd Burger
U.S. is developing Area Representative and Area Development
Programs, and will be seeking area representatives and area
developers for the U.S. market to further accelerate its
growth. In Canada, Odd Burger has
signed Area Representative Agreements for British Columbia, Alberta and Ontario, that will see over 76 locations
developed for these territories over the next 8 years.
Nanaimo BC Franchise
Odd Burger is also pleased to announce that it has signed a
Franchise Agreement for a location in Nanaimo BC, with franchisees Drihant Isamaliya
and Kamalpreet Kamalpreet. The restaurant is expected to open
in 2023 once the franchisees find a location and complete
construction. The Nanaimo
location marks the 11th Franchise Agreement signed in
Canada. Additionally, Odd Burger
currently operates 6 corporate locations in Ontario.
Canadian Locations
Update
The Company is also pleased to provide a progress summary of
previously announced Canadian locations:
Location
|
Status
|
Projected
Opening
|
Brampton, ON
|
Construction complete,
pending final inspections
|
Nov. 2022
|
Calgary, AB
|
Under
construction
|
Dec. 2022
|
Edmonton, AB
|
Offer to lease
submitted for location, awaiting landlord acceptance
|
TBD
|
Oakville, ON
|
Location secured,
drafting permits
|
March 2023
|
Ottawa, ON
|
Offer to lease
submitted for location, awaiting landlord acceptance
|
TBD
|
Regina, SK
|
Location
Secured
|
May 2023
|
Surrey, BC
|
Offer to lease
submitted for location, awaiting landlord acceptance
|
TBD
|
Toronto, Broadview,
ON
|
Landlord building
deficiencies to be rectified by Nov. 2022. Construction to
resume once complete
|
Spring 2023
|
Vancouver,
BC
|
Offer to lease
submitted for location, waiting landlord acceptance
|
TBD
|
Victoria, BC
|
Location
Secured
|
TBD
|
For more information about starting a franchise with Odd Burger
in the U.S. or in Canada,
applications can be submitted on the Company's website:
https://oddburger.com/pages/franchise-apply
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 to foodservice channels under
the brand Preposterous Foods. 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:, 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 and Franchises in the United States 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