Odd Burger Set to Expand to 10 Locations with New Ontario Restaurants in Brampton and Whitby
Odd Burger Corporation (OTCQB: GBLYF), a pioneer in vegan fast food, plans to open two new locations in Ontario, Brampton and Whitby, in early 2022, expanding its store count to 10. This expansion is part of Odd Burger's strategy to reach 20 operational restaurants by next year. The company is also pursuing a franchise agreement in Calgary and negotiating for a location in Manhattan, NY. The new locations aim to provide affordable and sustainable fast food options to more customers, reinforcing its commitment to healthier eating and environmental sustainability.
- Expansion to two new locations in Ontario, increasing store count to 10.
- Active negotiations for a restaurant in Manhattan, NY, indicating potential U.S. market entry.
- Projected delays in the Broadview, Toronto location's opening due to completion time issues.
- Risks associated with reliance on forward-looking statements regarding expansion plans and market conditions.
TORONTO, Oct. 28, 2021 /PRNewswire/ - Odd Burger Corporation (TSXV: ODD) (OTCQB: GBLYF), one of the world's first vegan fast-food chains and first to go public, today announced it will open two new locations in Ontario in early 2022, bringing its locally made plant-based burgers, fries, and shakes to Brampton and Whitby.
With these locations under development, Odd Burger will bring its store count to 10, halfway to its goal of having 20 restaurants operational by this time next year.
Last month the company initiated its western expansion with a signed franchise agreement for Calgary, AB, and is actively seeking a location. Its Broadview, Toronto location is projected to open in early 2022 due to longer than expected completion times of landlord related work.
In addition to these 10 sites, Odd Burger is in active negotiations for a location in Manhattan, NY, as part of its U.S. expansion initiative.
"Meeting our expansion goals is not only about building our company and brand, but also a pathway to transforming fast food into a healthier, more sustainable industry," said Odd Burger co-founder and CEO James McInnes. "As we grow, we are making it easy and affordable for people to access fast food that is better for our planet and our bodies."
The vegan fast-food concept pioneer opened its first location in London, Ontario in 2016, to make plant-based eating affordable, healthy, and satisfying. The company produces its own proprietary vegan product line that includes burgers, "chickUn" and dairy-free sauces, using primarily natural ingredients that are minimally processed and designed to maximize nutrition and flavour. This gives Odd Burger a unique product offering that is unmatched in the fast-food industry.
Brampton basic facts:
- Address: 9055 Airport Road Unit 7, Brampton
- In the Woodhill area situated at the epicenter of one of the GTA's busiest commercial nodes, and will serve Brampton's 600,000 plus residents
- 1031 square feet
- Projected opening estimate: Early 2022
Whitby basic facts:
- Address: 150 Taunton Road Unit E2, North Whitby
- In the plaza anchored by Walmart, LCBO, and Real Canadian Superstore, near the growing community of Brooklin
- 1000 square feet
- Projected opening estimate: Early 2022
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-set-to-expand-to-10-locations-with-new-ontario-restaurants-in-brampton-and-whitby-301410756.html
SOURCE Odd Burger Corporation
FAQ
What expansion plans does Odd Burger Corporation have for 2022?
Where are the new Odd Burger locations opening?
What is the stock symbol for Odd Burger Corporation?
What challenges is Odd Burger facing with their expansion?
Is Odd Burger planning to enter the U.S. market?
