The 5.5-acre plot was purchased from London city And approved by the city council in July 52022. The site is located in Innovation Drive, an industrial park that I created London city In order to attract innovative and sustainable manufacturers to the region. The site is fully serviced by municipal services including water, sewage and storm water drainage and has access to adequate electricity and natural gas facilities. The land will initially house a new 50,000-square-foot building, which can be expanded to approximately 150,000 square feet of build-up area as increased manufacturing capacity is needed in the future.
The new facility, when completed, is expected to be operated by Odd Burger food technology and manufacturing company, Preposterous Foods Inc. The company’s line of innovative plant-based proteins and dairy-free sauces is set. The increased capacity, when completed, at the new facility will allow Preposterous Foods to support hundreds of Odd Burger franchised restaurant locations across the country. North Amarica, as well as supplying selected products to external food service customers. With the new expansion, Preposterous Foods also plans to launch a retail product line, which will be targeted for sale in grocery stores and direct-to-consumer channels.
Odd Burger worked closely with the London Economic Development Corporation (LEDC) to secure the land purchase agreement from London city This partnership will continue throughout the construction process as well as into the operational phase of the facility.
“We are thrilled to begin this next chapter of growth for our company and we believe so London It is the best place in the world to implement our vision for a more sustainable future.” James McInnesCo-founder and CEO of Odd Burger. “We will create one of Canada The most advanced plant-based food processing facility and we believe that with this investment we will be able to make a huge difference to the industry by providing healthy, sustainable and affordable food.”
“Odd Burger is an innovative addition to the protein pool thriving in London,” He said Kapil Lakhotia, President and CEO of LEDC. “Our industrial lands, infrastructure, talent, and supply chains are going on London On the radar for sustainable food production and the development of vegetable proteins. “
Preposterous Foods has partnered with Molot Creek Group Inc. To assist the company in plant design and equipment specifications, as well as process engineering. Malut Creek is one of the Canada Distinguished food and beverage manufacturing experts participated in some Canada The largest industrial food enterprise. Once the design phase with Mallot Creek is complete, Preposterous Foods will provide permits to London city And start the construction process. Construction of the facility should take 1-2 years once permits are approved and is expected to create 50-100 jobs in London, ON Once fully functional.
“This investment by Odd Burger is the latest in a long list of recent examples that show why London The economy is still among the best ever Canada,” He said Josh MorganActing Mayor London, on me. “As a board, and with the strong support of LEDC, we have worked exceptionally hard to ensure that businesses and industries are selected London When it comes time to launch or expand their operations. On behalf of the board, I hope Ood Burger can only have success in the years to come.”
In March 2022, Odd Burger signed an area representative agreement with Sai-Ganesh Enterprises to bring an additional 36 locations to Alberta and British Columbia over the next seven years. In June, Odd Burger signed a second representative agreement for the Ontario region with Starke Corporation that will bring 40 new locations to the province over 8 years. In all, Odd Burger has 92 operating or regionally representative locations in Canada, making it one of the fastest growing vegetarian restaurant chains in the country. Odd Burger is also seeking similar development agreements in the US, with plans to launch its first batch of locations outside the US Canada.
Secure area representative agreements in regions around North Amarica Provides Odd Burger with contractual growth targets. These agreements allow the company to better plan for its future manufacturing needs and to make strategic investments to meet that demand.
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About Odd Burger Company
Odd Burger Corporation is a franchise and company-owned vegan fast food chain as well as a food technology company that manufactures and distributes a range of vegan protein and dairy alternatives under the Preposterous Foods brand to food service channels. Odd Burger restaurants operate as smart kitchens, using the latest cooking technology and automation solutions to deliver a delicious dining experience to customers who crave healthier, more sustainable fast food. With the footprints of convenience stores optimized for delivery and takeout, advanced cooking technology, competitive pricing, and a vertically integrated supply chain along with healthy ingredients, Odd Burger is revolutionizing the fast food industry by creating guilt-free fast food. Odd Burger Corporation is traded 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 that relate, among other things, to the Company’s strategies, intentions, plans, beliefs, expectations and estimates, generally identifiable by the use of words such as “may,” “will,” Can,” “should,” “will,” “likely,” “expect,” “intend,” “estimate,” “expect,” “believe,” “plan,” “objective,” and “communicate” and related words and phrases similar importance. Forward-looking information contained or referred to in this press release includes statements relating to, but not limited to, the following: the easy completion of new manufacturing, the impact of the development agreement in the areas discussed; The expected future expansion of the Odd Burger locations, the number of franchises and benefits the company expects to derive from this; In addition to the number of retail outlets to be opened and the Canadian Small Business Financing Program discussed here. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and you should not place undue reliance on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in these statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: financing risks, general business and economic conditions (including but not limited to currency rates); changes in laws and regulations; legal and regulatory procedures; The ability to implement strategic plans. The Company undertakes no obligation to publicly update or revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor the Regulatory Services Provider (as defined in the Exchange’s policies) accept responsibility for the adequacy or accuracy of this press release.
SOURCE Odd Burger Corporation