LONDON, ON, Feb. 18, 2025 /CNW/ - Odd Burger Corporation ("Odd Burger" or the "Company") (TSXV: ODD) (OTCPK: ODDAF) (FSE: IA9) announces that its Co-Founder and Chief Operating Officer, Vasiliki McInnes (the "Acquiror"), has recently purchased shares of the Company.
Odd Burger logo with ChickP mascot and oddmoji. (CNW Group/Odd Burger Corporation)
On February 14, Mrs. McInnes acquired a total of 50,000 shares at an average price of $0.3231 per share. This insider purchase reflects the leadership's strong confidence in Odd Burger's growth trajectory as the Company advances its franchise operations and consumer packaged goods (CPG) line.
Required Early Warning Report Disclosure
Immediately prior to the acquisition of Shares, the Acquiror owned and exercised control over an aggregate of 22,417,857 common shares, 1,849,479 options and 892,857 warrants, representing an interest of approximately 24.5% of the issued and outstanding voting securities of the Issuer on a non-diluted basis and 26.7% of the issued and outstanding securities of the Issuer assuming conversion of the options and exercise of the warrants.
As a result of the acquisition of Shares, the Acquiror will now own and exercise control over an aggregate of 22,467,857 common shares, 1,849,479 options and 892,857 warrants representing approximately 22.8% of the issued and outstanding voting securities of the Issuer on a non-diluted basis and 25.6% of the issued and outstanding securities of the Issuer, assuming conversion of the options and exercise of the warrants.
Mrs. McInnes acquired the Shares for investment purposes only and intends to review her holdings on a continuing basis and such holdings may be increased or decreased in the future. A copy of the Form 62-103F1 – Early Warning Report filed in connection with this disclosure may be found on www.SEDAR.com.
About Odd Burger Corporation
Odd Burger Corporation is a vegan fast-food chain and food technology company that manufactures proprietary plant-based protein and dairy alternatives. Its manufactured products are distributed to Odd Burger restaurants 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.
