LONDON,
ON, June 14, 2023 /CNW/ - Odd Burger
Corporation ("Odd Burger") (TSX: ODD) (OTCQB: ODDAF) (FSE: IA9) is
pleased to announce that its manufacturing division, Preposterous
Foods ("Preposterous" or the "Company"), has signed a Brokerage
Agreement with A.S. Food Sales to accelerate sales of its
plant-based protein and sauce product lines across Canada.
The expansion initiative will focus on obtaining food service
customers including hospitals, schools, convenience stores, and
other institutions. The Preposterous manufacturing facility
currently produces 12 plant-based proteins and 8 plant-based sauces
specifically designed for food service use. The product line is
extensive and includes plant-based chicken, beef, pork, cheese and
creamy dressings and sauces. All 20 Preposterous SKUs are listed
through Sysco Canada with
distribution points in Ontario and
Alberta.
A.S. Food Sales represents a select portfolio of food companies
selling into the food service, retail, club and industrial segments
of the Canadian marketplace. Its team of sales professionals each
have over 25 years of experience in the industry, selling to the
largest customers across the country. "We are excited to be
the exclusive sales team for the Preposterous Food line in
Canada," says Andy Strub, President of A.S. Food Sales. "We
will be focusing our efforts on selling the Preposterous line into
the top retailers and food service operators across the country and
we certainly see huge growth potential with the brand."
"The focus for our growth will be on larger institutional
customers," says James McInnes,
co-founder and CEO at Odd Burger. "The opportunity is tremendous,
as our products are specially designed for food service use, where
they can be cooked in as little as one minute with commercial
cooking equipment."
Preposterous Foods has made significant efficiency improvements
at its facility over the past two years, resulting in an increased
production capacity to service external institutions. The Company
plans to keep operating at its current facility, while also seeking
strategic acquisitions and co-manufacturing partnerships to bolster
future production capacity.
For a complete list of Preposterous products, please visit the
Company website at www.preposterousfoods.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 proprietary line of
plant-based protein and dairy alternatives to its locations. 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 and on the OTCQB under the symbol ODDAF. For
more information visit https://www.oddburger.com.
About A.S. Food Sales
A.S. Food Sales was founded by Andy
Strub, who has been able to develop his sales relationships
across Canada over his 30+ years in the food industry. A.S. Food
Sales represents a select portfolio of food companies selling into
the foodservice, retail, club and industrial segments of the
Canadian marketplace. Their team of sales professionals each have
25+ years of experience in the industry, selling to the largest
customers across the country.
Forward-Looking Information
This news release contains forward-looking information for the
purpose of providing information about management's current
expectations and plans relating to the future. Readers are
cautioned that reliance on such information may not be appropriate
for other purposes. Any such forward-looking information may be
identified by words such as "proposed", "expects", "intends",
"may", "will", and similar expressions. Forward looking information
contained or referred to in this news release includes statements
relating to future restaurant openings, potential franchisees,
demand for our products and other similar statements.
Forward-looking information is based on several factors and
assumptions which have been used to develop such information, but
which may prove to be incorrect including, but not limited to
material assumptions with respect to the continued strong demand
for Odd Burger's products, the availability of sufficient financing
on reasonable terms to fund Odd Burger's capital requirements and
the ability to obtain necessary equipment, production inputs and
labour. Although Odd Burger believes that the expectations
reflected in such forward-looking information are reasonable, undue
reliance should not be placed on forward-looking information
because Odd Burger can give no assurance that such expectations
will prove to be correct. Risks and uncertainties that could cause
actual results, performance or achievements of Odd Burger to differ
materially from those expressed or implied in such forward-looking
information include, among others, negative cash flow and future
financing requirements to sustain and grow operations, limited
history of operations and revenues and no history of earnings or
dividends, expansion of facilities, competition, availability of
raw materials, dependence on senior management and key personnel,
general business risk and liability, regulation of the food
industry, change in laws, regulations and guidelines, compliance
with laws, unfavourable publicity or consumer perception, product
liability and product recalls, risks related to intellectual
property, difficulties with forecasts, management of growth and
litigation, as well as the impact of, uncertainties and risks
associated with the ongoing COVID-19 pandemic, many of which are
beyond the control of Odd Burger. For a more comprehensive
discussion of the risks faced by Odd Burger, please refer to Odd
Burger's Annual Information Form filed with Canadian securities
regulatory authorities at www.sedar.com. The forward-looking
information in this news release reflects the current expectations,
assumptions and/or beliefs of Odd Burger based on information
currently available. Any forward-looking information speaks only as
of the date on which it is made and, except as may be required by
applicable securities laws, Odd Burger disclaims any intent or
obligation to update any forward-looking information, whether as a
result of new information, future events or results or otherwise.
The forward-looking information contained in this news release is
expressly qualified by this cautionary statement.
Non-GAAP Measures
This news release may refer to certain non-GAAP measures. These
measures are not recognized measures under IFRS, do not have a
standardized meaning prescribed by IFRS, and are therefore unlikely
to be comparable to similar measures presented by other companies.
Rather, these measures are provided as additional information to
complement those IFRS measures by providing further understanding
of our results of operations from management's perspective.
Accordingly, these measures should not be considered in isolation
nor as a substitute for analysis of our financial information
reported under IFRS. The TSX Venture Exchange has neither approved
nor disapproved the contents of this news release. Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news
release.
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SOURCE Odd Burger Corporation