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.
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.
SOURCE Odd Burger Corporation
