Happy Belly's Heal Wellness QSR Announces Signing of Real-Estate Location Serving the University of Alberta in Edmonton

Rhea-AI Summary

Happy Belly Food Group Inc. announces the securing of a real estate location for its Heal Wellness brand at the University of Alberta Campus, marking the third secured location for Heal in Western Canada. This strategic location is expected to provide huge organic foot traffic and exposure to the brand, targeting the 42,000 student base at the university. The company anticipates a significant number of openings in 2024 across Canada, accelerating its growth organically and through franchising. The rapid expansion of the Heal Wellness brand is a prime example of the company's ability to execute an asset light franchise model, with plans to increase corporate store development and supplemental growth from the franchise program.

Toronto, Ontario--(Newsfile Corp. - January 18, 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 ("Heal"), a fresh smoothie bowl, acai bowls, smoothies and delicious breakfast waffles quick serve restaurant.

"On October 26^th , 2023 we announced a five-unit franchise agreement for our Heal Wellness brand in Alberta, and today we are pleased to announce our second secured real estate location of that agreement. With the first Heal Wellness location in Alberta being in the City of Sherwood Park, our second location will be on 112^th St at the front door of University of Alberta Campus including University of Alberta Hospital ("U of A")", said Sean Black, Chief Investment Officer of Happy Belly.

"U of A is in the top 5 ranked universities in Canada and is home to more than 42,000 students which provides huge organic foot traffic and exposure to the Heal Wellness brand. Being at the campus provides us with the perfect customer demographic for our smoothies and smoothie bowl offerings. We look forward to becoming a part of the university meal program that will further accelerate our retail adoption to the 42,000 student base that is growing on an annual basis. I have been working in this industry for over 25 years and this is the first time I have been able to secure a space on 112^th St, at the front door of U of A, what a great day for Happy Belly".

"This signing signifies our third (3) location of Heal in Western Canada, and with this location being in a university/college environment we ideally plan many more over time as the brand grows. We continue to leverage our previous franchising experience to accelerate the organic growth of all our brands globally. As our stable of emerging QSR brands continues to grow, so does our ability and means to secure prime real estate locations across Canada."

"With possession taking place in Q2 2024, we are just getting started to increase our footprint in Western Canada as this is our third secured real estate location for Heal in Western Canada in the last few months (out of fifty (50) committed through our area development agreements in AB and BC). 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 an asset light franchise model. 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."

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: VGANF) ("Happy Belly" or the "Company") is a leading consolidator of emerging food brands.

Happy Belly Food Group
Shawn Moniz
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 LumberHeads Food Co. 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.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194714

FAQ

What is the significance of the real estate location secured for Heal Wellness at the University of Alberta Campus?

The location is strategically positioned to target the 42,000 student base at the university, providing huge organic foot traffic and exposure to the brand's offerings.

How many secured real estate locations does Heal have in Western Canada?

This marks the third secured real estate location for Heal in Western Canada, with plans for many more over time as the brand grows.

What are the company's anticipations for openings in 2024?

The company anticipates a significant number of openings in 2024 across Canada, accelerating its growth organically and through franchising.

What is the company's strategy for accelerating growth organically and through franchising?

The company plans to increase corporate store development and supplemental growth from the franchise program, leveraging its ability to execute an asset light franchise model.