Happy Belly Food Group Promotes John Delutis to Chief Restaurant Officer
Rhea-AI Summary
Happy Belly Food Group (CSE: HBFG) (OTCQB: HBFGF) has announced the promotion of John Delutis from Vice President of Restaurant Operations to Chief Restaurant Officer (CRO), effective immediately. Delutis, who joined Happy Belly in fall 2024, has been instrumental in optimizing operations and enhancing franchisee support across the company's multi-branded portfolio.
In his new role, Delutis will oversee end-to-end operations for Happy Belly restaurants, both corporate and franchised. The company has granted him 1,000,000 performance stock options exercisable at $1.11 per share, with vesting triggers at different price points: 500,000 immediate, 250,000 at $1.50, and 250,000 at $2.00, all expiring June 2026.
The company operates under an asset-light franchise model and aims to become Canada's leading restaurant consolidator.
Positive
- Strategic promotion strengthens senior leadership team
- Granted 1,000,000 performance-based stock options aligning management with shareholder interests
- Asset-light franchise model enables scalable growth
Negative
- None.
News Market Reaction
On the day this news was published, HBFGF declined 2.36%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Toronto, Ontario--(Newsfile Corp. - April 7, 2025) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands across Canada, is proud to announce the promotion of John Delutis from Vice President of Restaurant Operations to Chief Restaurant Officer (CRO), effective immediately.
"John and I have a long and very successful history working together dating back to 2009 so bringing him back was a huge piece of the puzzle. John started with us at Extreme Brandz as VP of Mucho Burrito, and then in 2013 joined me as Brand Vice President of MTY Group (TSX: MTY). Since coming on board at Happy Belly Food Group in fall of 2024, he has been an integral part of Happy Belly's growth, playing a critical role in optimizing operations, enhancing franchisee support, and driving exceptional performance across our multi-branded portfolio. His hands-on approach has been key in transforming our operational strategies and contributing to our continued success," said Sean Black, Chief Executive Officer of Happy Belly.
"John's leadership has been pivotal during a time of significant expansion for Happy Belly. John brings the right mix of discipline, culture, and entrepreneurial spirit to help us execute on our growth strategy. His promotion is a testament to his outstanding leadership and dedication. As we expand our retail footprint and scale our operations nationwide, having John leading our restaurant operations will ensure we maintain our high standards of quality, efficiency, and customer satisfaction. His strategic vision and operational expertise are exactly what we need as we accelerate our growth."
"In his new role, John will oversee the end-to-end operations for Happy Belly restaurants, both corporate and franchised, ensuring alignment with our overall strategic objectives. He will lead initiatives to optimize operational systems, drive profitability, and deliver an exceptional guest experience across our portfolio of brands. John Delutis' promotion further strengthens our senior leadership team and positions us to continue to drive incremental value for our franchisees while delivering bottom line results for our shareholders."
"Our asset-light franchise model enables Happy Belly to continue accelerating growth across all our brands. With a strong foundation, strategic leadership, and a dedicated franchise support system, we are well-positioned to drive sustained success in the Canadian QSR market. This is another step forward in our mission to become a predictable and disciplined growth company, Canada's leading restaurant consolidator."
We are just getting started.
Additional Updates:
The Company announces that it has granted 1,000,000 performance stock options (the "Options") to John Delutis in accordance with its Option Plan. The Options are exercisable at
These Options shall vest as follows:
| Options | Vesting Trigger |
| 500,000 | Immediate |
| 250,000 | |
| 250,000 |
Franchising
For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at hello@happybellyfg.com.
About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a dynamic multi-branded restaurant company focused on acquiring and scaling emerging food brands across Canada. With a robust portfolio of brands Happy Belly is dedicated to delivering quality, efficiency, and exceptional customer experiences nationwide.
Happy Belly
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Sean Black
Chief Executive Officer
Shawn Moniz
Chief Operating Officer
FOR FURTHER INFORMATION, PLEASE VISIT:
www: www.happybellyfg.com or email hello@happybellyfg.com
If you wish to contact us please call: (604) 737-2303
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statements
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247574
FAQ
What are the vesting terms for John Delutis's stock options at Happy Belly Food Group (HBFGF)?
When did John Delutis join Happy Belly Food Group (HBFGF) and what was his initial role?
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What are John Delutis's responsibilities as the new Chief Restaurant Officer at Happy Belly (HBFGF)?
