TORONTO, Nov. 3, 2021 /PRNewswire/ - Odd Burger Corporation (TSXV: ODD) (OTCQB: GBLYF), one of the world's first vegan fast-food chains and first to go public, today announced record systemwide sales in October 2021 of more than $233,000, a 41 percent increase over the previous month.
The openings of new locations in Vaughan, London, Waterloo, and Hamilton ON contributed to its record success: the chain had five fully operational locations in October, plus a sixth location that opened Oct. 27. The new locations have been welcomed by the communities and have launched with tremendous success, with new locations earning an average Google review rating of 4.875 stars from customers.
Odd Burger recently announced two new locations coming to Brampton and Whitby in early 2022, as well as its expansion into western provinces via a Calgary franchise and into the U.S. with a flagship Manhattan restaurant. Odd Burger expects to have 20 restaurants operational by this time next year, and is enjoying a phase of strong growth.
"These strong sales and successful openings show us that we're winning new customers and fans wherever we go, which we see as fuel for continued expansion," said Odd Burger co-founder and CEO James McInnes. "These past few months have proven that we are able to scale our operations and keep pace with our rapid growth and with many new locations in the pipeline, we expect to set more records, and keep seeing fantastic reviews from customers."
Odd Burger produces its own proprietary plant-based product line at a company-owned food manufacturing facility. As the company scales restaurant operations, controlling its own supply chain enables the company to keep up with demand, and increase manufacturing capacity to prevent any significant interruption in supply. This is an important operational advantage as the company continues its strong growth.
About Odd Burger Corporation
Odd Burger Corporation is a chain of company-owned and franchised vegan fast-food restaurants as well as a food technology company that manufactures and distributes a proprietary line of plant-based protein and dairy alternatives to its locations. 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. Odd Burger Corporation is traded on the TSX Venture Exchange under the symbol ODD and on the OTCQB under the symbol GBLYF. 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 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", "objective" and "continue" and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed 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 such statements, including but not limited to its expansion plans into the United States and the number of restaurant locations anticipated in the following period.
Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: negative cash flow and future financing requirements to sustain operations; dilution; competition; economic changes; and the impact of and risks associated with the ongoing COVID-19 pandemic. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company.
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 rates); changes in laws and regulations; legal and regulatory proceedings; and the ability to execute strategic plans. The Company does not undertake any obligation to update publicly or to 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 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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