Happy Belly's Heal Wellness QSR Accelerates Alberta Expansion with Signing of Fashion Central Location in Downtown Calgary's Historic Alberta Block

Rhea-AI Summary

Happy Belly Food Group Inc. secures a new real estate location for its Heal Wellness brand in downtown Calgary, marking the third location under a five-unit franchise agreement. The company aims to expand its presence in Alberta, particularly in Calgary, due to its growth potential and economic opportunities. With plans for multiple openings in 2024, Happy Belly is focused on organic and inorganic growth through franchising and M&A.

Toronto, Ontario--(Newsfile Corp. - March 25, 2024) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: VGANF) ("Happy Belly" or the "Company"), a leading consolidator of emerging food brands is pleased to announce it has secured another real estate location for Heal Wellness, a fresh smoothie bowl, acai bowls and smoothie quick serve restaurant.

"On October 26th, we announced a five-unit (5) franchise agreement for our Heal Wellness brand, and today we are pleased to announce that the third (3^rd) real estate location of that agreement has been signed. The third Heal Wellness location in Alberta will be in downtown Calgary's Fashion Central building known as Alberta Block located at Stephen Avenue and 1^st Street," said Sean Black, Chief Investment Officer of Happy Belly.

"This signing signifies our first of many locations in the growing city of Calgary. This marks our second major city in the province of Alberta for Heal, with two (2) other signings already confirmed for the city of Edmonton previously announced. The combination of lower taxes, affordable housing, and greater job opportunities are expected to continue to draw a continues stream of population influx into the region for continues growth and economic stimulus. As our stable of emerging QSR brands continues to grow, so does our ability to secure prime real estate locations across Canada. The city of Calgary continues to rapidly grow at an impressive rate and will expand Heal's customer reach in a heavily populated and demographical aligned area to the brand, giving us tremendous opportunity in-store, as well as delivery."

"With an anticipated Summer 2024 opening, we are just getting started to increase our footprint on the west coast. This is our fifth (5) location out of fifty (50) units committed through our area development program out west and we anticipate a significant number of openings in 2024 across Canada."

"We look forward to continuing to execute on our franchising model as we accelerate our growth organically and inorganically through accretive M&A. The rapid expansion of the Heal Wellness brand is a prime example of our ability to execute. As free cash flow increases from the brand, we anticipate accelerating our corporate store development schedule with supplemental growth coming from our franchise program. We are just getting started."

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

About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: VGANF) is a leading consolidator of emerging food brands.

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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.

The securities to be issued pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release will not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202981

FAQ

How many franchise agreements has Happy Belly Food Group Inc. secured for its Heal Wellness brand?

Happy Belly Food Group Inc. has announced a five-unit franchise agreement for its Heal Wellness brand.

Where will the third real estate location of the Heal Wellness brand be located?

The third real estate location of the Heal Wellness brand will be in downtown Calgary's Fashion Central building known as Alberta Block located at Stephen Avenue and 1st Street.

What is the anticipated opening timeframe for the new location in Calgary?

The anticipated opening for the new location in Calgary is Summer 2024.

How many units are committed through Happy Belly Food Group Inc.'s area development program out west?

Fifty units are committed through Happy Belly Food Group Inc.'s area development program out west.

How does Happy Belly Food Group Inc. plan to accelerate its growth?

Happy Belly Food Group Inc. plans to accelerate its growth through organic growth and inorganic growth via accretive M&A, as well as through its franchising model.