Odd Burger Details U.S. Expansion Strategy Amid Tariffs and Announces $2M Private Placement

LONDON, ON, March 10, 2025 /CNW/ - Odd Burger Corporation ("Odd Burger" or the "Company") (TSXV: ODD) (OTCPK: ODDAF) (FSE: IA9), a leading vegan fast-food restaurant chain and food technology company, is pleased to detail its U.S. expansion strategy amid recent tariffs on Canadian goods and announce a non-brokered private placement offering to support these initiatives.

Replicating Canadian Success in the U.S. Market

Odd Burger has established a strong, vertically integrated supply chain in Canada through its manufacturing division, Preposterous Foods Inc. The Company produces its own plant-based proteins and dairy alternatives at its dedicated manufacturing facility, using primarily Canadian-grown ingredients. This approach has allowed Odd Burger to minimize external supply chain disruptions, maintain product quality, and reduce costs, even during challenging market conditions.

As part of its expansion into the U.S. market, Odd Burger plans to replicate its Canadian model by sourcing ingredients from U.S. farmers and building its own manufacturing facility in the U.S. By doing so, the Company will ensure that its food is locally produced, fresh, and sustainable while continuing to maintain control over its supply chain. This approach will help mitigate the effects of current tariffs and provide a more resilient supply chain in the U.S.

"Our experience in Canada has shown that a vertically integrated, localized supply chain is key to controlling costs and maintaining high-quality food production," said James McInnes, CEO and Co-Founder of Odd Burger. "We are confident that by implementing this strategy in the U.S., we can expand quickly while keeping prices stable and offering the same level of excellence that our customers expect."

$2M Private Placement to Support Expansion

In conjunction with its U.S. expansion efforts, Odd Burger is pleased to announce a non-brokered private placement (the "Offering") of up to 6,666,666 units (the "Units") at a price of $0.30 per Unit, for total gross proceeds of up to $2,000,000.

Each Unit consists of one common share (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.35 per Common Share, exercisable for two years from the closing date of the Offering.

The net proceeds from the Offering will be used to fund the establishment of U.S. manufacturing facilities, expand the Company's franchise operations across North America, and for general working capital purposes. Completion of the Offering is subject to TSX Venture Exchange approval, and all securities issued will be subject to a four-month and one-day hold period from the date of issuance.

A finder's fee of up to 6% of the gross proceeds may be paid in cash.

Certain insiders of the Company may participate in the Offering, which would be considered a related party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such participation would be exempt from minority approval and valuation requirements pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101.

About Odd Burger Corporation

Odd Burger Corporation is a franchised vegan fast-food restaurant chain and food technology company that manufactures a proprietary line of plant-based protein and dairy alternatives. Its manufactured products are distributed to Odd Burger restaurant locations through its foodservice line and sold at grocery retailers through its consumer-packaged goods (CPG) line. Odd Burger restaurants operate as smart kitchens, which use state-of-the art cooking technology and automation solutions to deliver a delicious food experience to customers craving healthier and more sustainable fast food. With small store footprints optimized for delivery and takeout, advanced cooking technology, competitive pricing, a vertically integrated supply chain along with healthier ingredients, Odd Burger is revolutionizing the fast-food industry by creating guilt-free fast food that can be enjoyed at its restaurant locations or at home though its CPG line. Odd Burger Corporation is traded on the TSX Venture Exchange under the symbol "ODD" and on the OTCPK under the symbol "ODDAF". For more information visit https://www.oddburger.com.

Forward-Looking Information

This news release contains forward-looking information for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "proposed", "expects", "intends", "may", "will", and similar expressions. Forward looking information contained or referred to in this news release includes statements relating to approval of the TSX Venture Exchange, future restaurant openings, potential franchisees, demand for our products and other similar statements. Forward-looking information is based on several factors and assumptions which have been used to develop such information, but which may prove to be incorrect including, but not limited to material assumptions with respect to the continued strong demand for the Company's products, the availability of sufficient financing on reasonable terms to fund the Company's capital requirements and the ability to obtain necessary equipment, production inputs and labour. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. Risks and uncertainties that could cause actual results, performance or achievements of the Company to differ materially from those expressed or implied in such forward-looking information include, among others, negative cash flow and future financing requirements to sustain and grow operations, limited history of operations and revenues and no history of earnings or dividends, expansion of facilities, competition, availability of raw materials, dependence on senior management and key personnel, general business risk and liability, regulation of the food industry, change in laws, regulations and guidelines, compliance with laws, unfavourable publicity or consumer perception, product liability and product recalls, risks related to intellectual property, difficulties with forecasts, management of growth and litigation, as well as the impact of, uncertainties and risks associated with the ongoing COVID-19 pandemic, many of which are beyond the control of the Company. For a more comprehensive discussion of the risks faced by the Company, please refer to the Company's Annual Information Form filed with Canadian securities regulatory authorities at www.sedarplus.ca. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

Non-GAAP Measures 

This news release may refer to certain non-GAAP measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS, and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Odd Burger Corporation

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