Odd Burger signs an agreement for
TORONTO, June 9, 2022 /PRNewswire/ – Odd Burger Corporation (TSXV: ODD) (OTCQB: ODDAF) (FSE: IA9), one of the world’s first vegan fast food chains and the first to go public, announced today that it has signed an agreement with a party to open 40 new locations in Ontario.
Odd Burger and Starke Investments, a company specializing in real estate and franchise development, have signed a regional representation agreement that will bring forty Odd Burger locations to the province over the next eight years. Starke Investments will oversee franchise sales to individual owners, store construction and provide franchise support in its territory.
“Starke Investments is always looking for opportunities to position itself as a leader in sustainability and innovation and Odd Burger is undoubtedly disrupting an industry where change is so desperately needed,” said Prashant Dalal, Founder and CEO of Starke Investments. “We see huge potential with Odd Burger as they make plant-based foods that appeal to the mass market by offering a menu with simple ingredients, amazing flavor and a competitive price – it’s not something we’ve seen with any other plant-based catering brand.”
“Partnering with Starke Investments will allow Odd Burger to continue its rapid expansion across North Americawhile providing an incredible level of service to our local franchisees in Ontario,” said James McInnes, Odd Burger Co-founder and CEO. “Starke Investments also brings fantastic industry knowledge to Odd Burger, as well as a valuable network of relationships with potential owners and franchisees.”
Area Representation Agreements are a strategic method of expansion as the agreements define an annual development quota that provides Odd Burger with a clear growth trajectory in each territory. In March 2022Odd Burger has signed a regional representation agreement with Sai-Ganesh Enterprises to bring 36 locations to alberta and British Columbia over the next 7 years. In total, Odd Burger now has 92 operational locations or under territory development agreement Canadamaking it one of the fastest growing vegan fast food chains in the country.
Odd Burger currently has operational sites in Toronto, London, Windsor, Vaughan, Waterloo, hamilton and Whitbywith many additional franchises in development including Calgary, Ottawa, Victoria and Vancouver. Currently, Odd Burger is looking for regional representatives in the US market as it prepares to launch its first set of locations outside of Canada.
Odd Burger also operates a manufacturing division called Preposterous Foods, located in London, Ontariowhere he creates his exclusive plant-based proteins and dairy alternatives such as dairy-free burgers, ChickUn fillets, sausages and sauces.
Recently, Odd Burger announced loans of up to 90% of the cost of opening a new location through the Canada Small Business Financing Program (CSFP), administered by CIBC, to significantly reduce the need in initial capital. Loans of up to $350,000 through the government guaranteed program can be used for financing new stores, renovations, etc. Only Canadian franchisees are eligible for CIBC financing.
Those interested in Odd Burger franchise opportunities can visit https://oddburger.com/pages/franchise-what-we-offer.
About Starke Investments
Starke Investments is a Torontoinvestment company focused on franchising and real estate development. Its principles bring decades of experience in brokerage, construction, franchising and business development. Starke Investments has experience as a franchisor and franchisee, primarily in the medical and fast food space. Starke Investments is led by Prashant Dalal, experienced optician and real estate investor with a passion for vegetarian cuisine. The main objective of Starke Investments is to invest in innovative and sustainable companies that have a positive impact on the planet.
About Odd Burger Corporation
Odd Burger Corporation is a chain of company-owned and franchised vegan fast food restaurants and food technology company that manufactures and distributes a line of plant-based protein and dairy alternatives under the Preposterous Foods brand to restaurant chains . Odd Burger restaurants operate as smart kitchens, using cutting-edge cooking technology and automation solutions to deliver a delicious dining experience for customers seeking healthier, more sustainable fast food. With small store footprints optimized for delivery and takeout, advanced cooking technology, competitive pricing, a vertically integrated supply chain as well as healthier ingredients, Odd Burger is revolutionizing the fast food industry. by creating guilt-free fast food. Odd Burger Corporation is listed on the TSX Venture Exchange under the symbol ODD, on the OTCQB under ODDAF and on the Frankfurt Stock Exchange under IA9. 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 relating 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”, “goal” and “continue” and words and phrases of similar scope. Forward-looking information contained or referred to in this press release includes statements regarding, but is not limited to: the impact of development agreements in the areas discussed; the expected future expansion of Odd Burger locations and the benefits the Company expects to derive therefrom; as well as the number of outlets to be opened and the Canada Small Business Financing Program discussed here. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain important factors or assumptions are applied to make forward-looking statements, and actual results may differ materially from those expressed or implied by such statements. 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 exchange rates); changes in laws and regulations; legal and regulatory proceedings; and the ability to execute strategic plans. The Company undertakes no obligation to publicly update or revise any forward-looking statements contained herein, 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.
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SOURCE Odd Burger Corporation