HAPPY BELLY FOOD GRP INC - HBFGF STOCK NEWS

Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has announced the signing of a franchise agreement for its Via Cibo brand in the Niagara Falls region of Ontario. This marks the first step towards the 15 new locations committed by Ontario area developer Scott Grandin. Via Cibo, acquired earlier this year, offers fast casual Italian street food.

CEO Sean Black highlighted the potential for growth in the Niagara Falls region, citing its vibrant community, engaged local economy, and bustling tourism industry. The company anticipates that the franchising program will drive both top and bottom line growth.

Happy Belly currently has 376 contractually committed retail locations across its portfolio of emerging food brands. The company is focusing on expanding its asset-light franchising model, with five restaurant brands currently having store locations under simultaneous construction.

Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) announces the opening of a new iQ Food Co. location at Queen's Cross Food Hall in CF Toronto Eaton Centre. This marks iQ's first licensing agreement, positioning the brand in the franchising space. The opening follows Happy Belly's recent 100% acquisition of iQ Food Co. in mid-September.

iQ offers healthy meals including bowls, smoothies, sandwiches, soups, and salads, catering to health-conscious customers in urban and central business districts. Happy Belly reports 376 contractually committed retail locations across its emerging brands, emphasizing its focus on expansion through an asset-light franchising model.

CEO Sean Black expresses gratitude to Oliver & Bonacini for the partnership and sees this as the beginning of a long-term relationship. The company aims to drive organic growth across its portfolio and plans further expansion of iQ in key urban markets.

Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has appointed Randall Papineau as Brand President of IQ Foods, following its recent 100% acquisition of the brand. This move aims to accelerate IQ's growth in the premium healthy eating market. Papineau, formerly Vice President of Growth & Operations at FRESH Restaurants, brings extensive experience in building high-growth brands and teams.

IQ Foods offers a variety of healthy options including bowls, smoothies, sandwiches, soups, and salads. The appointment aligns with Happy Belly's strategy to consolidate emerging food brands and expand in the clean eating vertical. The company draws inspiration from successful US brands like Sweetgreen, which has a market cap exceeding $3.9 billion USD.

Happy Belly's CEO, Sean Black, expressed confidence in Papineau's ability to drive scalability, profitability, and alignment with growth objectives for IQ Foods. The company views this as a significant step towards becoming a category leader in Canada's healthy eating market.

Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has announced the opening of its newest Heal Wellness location in Vancouver's Kitsilano neighborhood on October 5th, 2024. This marks the 12th Heal Wellness location overall, the 3rd of 10 planned for British Columbia, and the 8th franchised store added to Happy Belly's portfolio this year. The company has a pipeline of 100 committed Heal units across Canada and the U.S.

CEO Sean Black highlighted the company's expansion plans, mentioning that five of their brands currently have store locations under construction. Happy Belly has 376 contractually committed retail locations from area developers across all emerging brands in its portfolio. The company is focusing on sourcing real estate, evaluating franchisee applications, and collaborating with area developers to drive growth through its asset-light franchising model.

Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has appointed John Delutis as Vice President of Restaurant Operations. This strategic move comes as the company experiences significant growth across its portfolio of emerging brands and restaurant operations. Delutis, former Brand President of Mucho Burrito, brings extensive experience in the franchised food sector, having worked with brands like Tim Hortons and Second Cup.

In his new role, Delutis will focus on driving operational efficiency, enhancing guest experience, and supporting brand expansion across franchised and corporate-owned locations. His appointment is expected to strengthen Happy Belly's operational strategies, ensure scalability, and maintain high standards as the company continues its growth trajectory through organic expansion and acquisitions.

Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has closed its 100% acquisition of IQ Foods Co., a Toronto-based QSR brand with four locations. The acquisition, valued at approximately $300,000 CDN, is expected to have an immediate positive impact on Happy Belly's top-line revenue and EBITDA. IQ Foods, known for its healthy bowls, smoothies, and clean-eating dishes, has a projected system sales of $4.0M CDN across its four prime locations in downtown Toronto. The brand has been experiencing double-digit sales growth (10.3%) year-to-date and maintains healthy gross margins. With this acquisition, Happy Belly's portfolio grows to 36 operating restaurants, with plans for further expansion in 2024 and beyond.

Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has signed a franchise agreement for a Heal Wellness location in Niagara Falls, Ontario. This marks the 44th franchise agreement for the brand, which has expanded from 2 to 11 operating locations across 3 provinces in the past 12 months. The company has contractual commitments for 376 units across its 7 restaurant brands, with 100 of those for Heal Wellness.

CEO Sean Black highlighted Niagara Falls' potential as a market for Heal, citing its tourism, active lifestyle, and thriving retail environment. The company expects to open several new locations across multiple brands throughout 2024-2025, leveraging its management's 30+ years of franchising experience.

Happy Belly Food Group (CSE: HBFG) (OTCQB: HBFGF) has acquired 100% of IQ Foods Co., a Toronto-based QSR brand with four locations. This acquisition marks Happy Belly's largest single acquisition of corporate-owned stores to date. IQ Foods offers healthy bowls, smoothies, sandwiches, soups, and salads, catering to health-conscious consumers.

The acquisition includes four strategically located stores in Toronto's financial district and near fitness centers. The combined projected system sales across the four locations is $4.0 million, with a 10.3% year-to-date sales growth. Forecasted EBITDA is $300,000 after corporate expenses.

This acquisition is part of Happy Belly's strategy to consolidate emerging brands within sectors, focusing on the premium healthy and clean eating vertical. With this acquisition, Happy Belly will have 36 restaurants in its portfolio, increasing to 45 following the closing of the Salus Fresh Foods acquisition.

Happy Belly Food Group (CSE: HBFG) (OTCQB: HBFGF) has announced the opening of its 11th Heal Wellness location in Toronto, Ontario. This marks the company's 5th franchised Heal Wellness store and 7th restaurant opening in 2024. The new location at 577 St. Clair Avenue West is expected to extend Heal's customer base in a densely populated area.

Key highlights:

• Happy Belly has a commitment for 376 units in its pipeline across Canada and the US
• Five of Happy Belly's brands currently have store locations under construction
• The company is experiencing a progressive stream of franchisee applications for all brands in its portfolio
• Happy Belly is leveraging its 30+ years of successful franchising experience to accelerate growth
• The company anticipates accelerating its corporate store development timeline as Heal Wellness brand's free cash flow grows