Happy Belly's HEAL Wellness QSR Announces the Signing of their 3rd Toronto Location for our Newest Multi-Unit Franchisee

Rhea-AI Summary

Happy Belly Food Group (CSE: HBFG, OTCQB: HBFGF) announced the signing of their third Heal Wellness location in Toronto, marking the second franchise for David Lamph following the successful opening of the Beaches location on March 15. The new location will be at St. Clair and Bathurst, sharing space with Philosophy Fitness, and is expected to open in Q3. This expansion aims to cater to health-conscious gym-goers. Additionally, Happy Belly completed the issuance of 96,153 shares at $0.39 each to former CFO Dean Callaway as severance on May 13, 2024.

Positive

• Happy Belly's Heal Wellness secures third location in Toronto.
• Second franchise location signed by existing franchisee David Lamph.
• New location to share space with Philosophy Fitness, attracting health-conscious clientele.
• Expected opening in Q3 to potentially boost franchise visibility and customer base.

Negative

• Issuance of 96,153 shares to former CFO as severance, potentially diluting shareholder value.

Toronto, Ontario--(Newsfile Corp. - June 19, 2024) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging food brands is pleased to announce it has secured their 3^rd real estate location for Heal Wellness ("Heal"), a fresh smoothie bowl, acai bowls, smoothies quick serve restaurant.

"It is a great feeling when a franchisee opens our brands first-ever franchised location and then signs on for their second location just a few short months later. After successfully opening our Beaches location in Toronto on March 15, our franchisee David Lamph has signed for a second location in Toronto in the St. Clair and Bathurst area. This new location with be another first for the Heal brand as they share space with Philosophy Fitness one of Toronto's top gyms." said Sean Black, Chief Investment Officer of Happy Belly.

"This location is anticipated to open in Q3 and is excellent as it caters directly to the health-conscious clientele who frequent the facility. Gym-goers are often looking for nutritious and convenient pre or post-workout options to replenish their energy and support their fitness goals. An acai bowl and smoothie shop provides a perfect complement to their workout routine, offering delicious and healthy choices that promote recovery and overall wellness."

"This is the third time in the last few weeks where we are witnessing organic support from our current franchisees who are expanding into multi-unit ownership. Heal offers a proven business model that has demonstrated success in various markets. This model provides franchisees with a blueprint for success while reducing the risks associated with entrepreneurship. Our franchise program empowers franchisees to achieve their business goals while exemplifying the integrity and reputation of the brand."

Heal Wellness

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Additional Update:

The Company announces that, further to its news release of May 10^th 2024, it has completed as of May 13^th 2024 the issuance of 96,153 common shares (the "Shares") at a deemed price of $0.39 per Share, being the 10-day VWAP of the Company's Shares on the Canadian Securities Exchange, to its former CFO, Dean Callaway as payment for severance. The Shares are subject to a mandatory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at hello@happybellyfg.com.

About Heal Wellness

Heal Wellness was created out of a passion and mission to serve quick, fresh wellness foods that power and support a busy, active lifestyle. Currently, we are pleased to offer a wide variety of smoothie bowls, smoothies, and delicious breakfast waffles. We are proud to highlight that every superfood ingredient in the Heal Wellness menu is carefully selected with the intention of fueling the body with a reduced ecological.

About Happy Belly Food Group

Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leading consolidator of emerging food brands.

Happy Belly

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Happy Belly Food Group
Shawn Moniz
Founder, Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE VISIT:

www: www.happybellyfg.com or email hello@happybellyfg.com
If you wish to contact us please call: (604) 737-2303

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur, and include the future performance of Happy Belly and her subsidiaries. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213562

FAQ

What is the latest franchise expansion for Happy Belly's Heal Wellness in Toronto?

Happy Belly's Heal Wellness has signed for their third location in Toronto, specifically at St. Clair and Bathurst, which will share space with Philosophy Fitness and is anticipated to open in Q3 2024.

Who is the franchisee for the new Heal Wellness location in Toronto?

David Lamph, the franchisee who opened the Beaches location on March 15, 2024, has signed for the new Heal Wellness location at St. Clair and Bathurst.

What is the significance of the new Heal Wellness location in Toronto?

The new Heal Wellness location aims to cater to health-conscious gym-goers at Philosophy Fitness, offering nutritious pre- or post-workout options.

What stock symbols are associated with Happy Belly Food Group?

Happy Belly Food Group is traded under the symbols CSE: HBFG and OTCQB: HBFGF.

What recent share issuance has Happy Belly Food Group completed?

Happy Belly Food Group issued 96,153 shares at $0.39 each to their former CFO, Dean Callaway, as severance on May 13, 2024.