Odd Burger Announces Distribution Deal with Dot Foods Canada
The distribution deal will make Odd Burger's retail and food service line available to hundreds of distributors across Canada, greatly expanding the accessibility of Odd Burger's manufactured food products. Odd Burger manufactures 5 frozen plant-based retail products for grocery stores and 20 plant-based foodservice products designed for restaurant use out of its manufacturing facility in London ON.
The initial launch with Dot will see 5 retail SKUs available for distribution including the Company's ChickUn Fillet, Smash Burger, Chickpea Burger, ChickUn Pretenders and Breakfast Sausage. The distribution deal with Dot will allow Odd Burger to better service national grocery and restaurant chains, as the Company will now be able to offer a convenient distribution channel and a national pricing program for its product lines.
"We believe that this is a very significant step forward for Odd Burger," says James McInnes, CEO and Co-Founder of Odd Burger. "This distribution deal will allow us to secure listings with national retailers and will greatly increase our ability to grow revenue. Dot will also simplify our logistics and production process, which will drive efficiency across our manufacturing division."
Dot Foods Canada is a Canadian business founded in 2016 and is a wholly owned subsidiary of Dot Foods Inc. Dot has distribution centers in Ingersoll ON and Calgary AB where it lists over 3,300 products from over 100 suppliers and services nearly 400 distributors. Dot specializes in Less Than Truckload (LTL) quantities, allowing its customers to order with a single case order minimum making products more accessible and more affordable across the supply chain.
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.
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