Odd Burger Begins Trading in U.S. with OTC Listing
Odd Burger Corporation (OTCQB: GBLYF), a pioneer in vegan fast-food, has completed its listing on the U.S. trading market. The company currently operates five locations, with plans to expand to 20 by next year, and is actively seeking a site in New York City. To support its growth, Odd Burger has secured foodservice distribution through Sysco and obtained international food safety certification. The company will also apply for a new ticker symbol, ODDAF, post-approval from FINRA. Controlling its supply chain allows Odd Burger to offer competitive prices and maintain food quality.
- Successful listing on OTCQB enhances market access for U.S. customers.
- Plans to expand physical presence to 20 locations within a year.
- Secured distribution partnership with Sysco for efficient supply chain.
- Obtained international food safety certification, supporting expansion.
- Potential risks associated with cash flow and financing requirements.
- Dependence on future restaurant locations in a competitive market.
- Uncertainty regarding execution of growth plans due to various external factors.
TORONTO, Oct. 7, 2021 /PRNewswire/ - Odd Burger Corporation (TSXV: ODD) (OTCQB: GBLYF), one of the world's first vegan fast-food chains and first to go public, has completed its listing on the U.S. trading market today with its common shares being posted on the OTC (QB) under the symbol GBLYF.
The Canadian company has five locations and is currently seeking a location in New York City. Odd Burger plans to have 20 restaurants operational by this time next year.
To further U.S. expansion, Odd Burger has secured foodservice distribution via Sysco, and international food safety certification by HACCP, clearing the way to supply to its future restaurants outside its home province of Ontario.
"As we did by going public in Canada, we want to give U.S. customers an easier way to invest in and support our mission to change fast food," said Odd Burger co-founder and CEO James McInnes. "Many of our customers are also shareholders, and this is why it's so important to continue expanding our market access as our organization grows."
Odd Burger will apply to change its ticker symbol with oversight agency FINRA; upon approval, its new ticker is expected to be ODDAF. The company was founded as Globally Local, and recently rebranded as Odd Burger.
Odd Burger manufactures its own plant-based proteins and dairy alternatives, which represent about 70 percent of the food sold in its restaurants. Controlling its own supply chain helps the company keep menu prices in line with conventional fast food, reduces its dependence on third-party vendors, and ensures consistent quality and customer experience.
More than 10,000 companies trade on OTC (over-the-counter) markets. Developing international companies often enter the U.S. stock market through an OTC listing. Eligible companies must be current in reporting and undergo annual verification.
To purchase shares of Odd Burger, consult a brokerage firm or an online broker that allows OTC trading.
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 GBLYF. 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, including but not limited to its expansion plans into the United States and the number of restaurant locations anticipated in the following period.
Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: negative cash flow and future financing requirements to sustain operations; dilution; competition; economic changes; and the impact of and risks associated with the ongoing COVID-19 pandemic. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company.
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/odd-burger-begins-trading-in-us-with-otc-listing-301394901.html
SOURCE Odd Burger Corporation
FAQ
What is the ticker symbol for Odd Burger Corporation on the OTC market?
Where is Odd Burger planning to open new locations?
What partnerships has Odd Burger secured for its U.S. expansion?
What is the significance of Odd Burger obtaining international food safety certification?
Are there any risks mentioned in the Odd Burger press release?
