Happy Belly's HEAL Wellness QSR Announces the Signing of Its 24th Franchise and Secured Real-Estate in the City of Edmonton, Alberta

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Happy Belly's HEAL Wellness QSR has signed its 24th franchise agreement and secured real estate in Edmonton, Alberta, marking significant growth for the brand. The franchise program is expanding rapidly, with a total of 24 franchises signed in the last 14 months and 6 in Alberta alone. The new location is set to open in Q3 2024 at Edmonton's North Town Centre, showcasing the brand's success in attracting franchisees nationwide. The positive impact of the franchise initiative on the brand's growth is evident, with plans for further expansion across Canada.

Toronto, Ontario--(Newsfile Corp. - April 18, 2024) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: VGANF) ("Happy Belly" or the "Company"), a leading consolidator of emerging food brands is pleased to announce it has signed a lease and franchise agreement to open the third (3^rd) Heal Wellness in the city of Edmonton, Alberta, for its Heal Wellness brand, a fresh smoothie bowls, acai bowls, and smoothies quick serve restaurant. This new franchised location is the 24^th signed franchise agreement for Heal in the last 14 months and 6^th for Alberta so far. Grand Opening is anticipated to be in Q3 2024.

HEAL Wellness

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"As our Heal Wellness franchise program successfully attracts franchisees nationwide, we are witnessing a clear link between the rapid expansion of our franchise initiative and the positive impact it has on our brands. The recent signing of Heal's 24th franchise together with the pace that our area developers are achieving signals a strong indication that this brand has left the stable. Heal is becoming a recognized brand as our footprint increase across not only Alberta, but throughout British Columbia and Ontario as well," said Sean Black, Chief Investment Officer.

"We are grateful for the interest shown by landlords with whom we have established previous relationships with as they actively contribute to expanding our real estate presence across Canada. Securing a real estate location so quickly when signing a new franchisee speaks volumes to our team's ability to grow and scale our brands at an accelerated pace. I want to thank Mike Peebles and his team at Anthem for this opportunity. "

The real estate location for Heal's 24^th franchise will be in Edmonton's North Town Centre on a prominent end cap in the Anthem Properties Shopping Centre. Anthem Properties stands as a vibrant hub of retail, entertainment, and community engagement. Strategically located in one of Canada's most dynamic cities, the shopping center embodies modernity while preserving a sense of local charm. The Centre boasts a comprehensive selection of retailers, ranging from renowned national brands to boutique shops offering locally crafted goods. Additionally, a variety of dining options tantalize visitors' taste buds, from casual eateries to upscale restaurants serving culinary delights from around the world. Family-friendly amenities, such as movie theaters and interactive pavilions ensure that visitors of all ages feel welcome and entertained. A perfect demographic for our newest location of Heal.

"Since introducing franchising in March 2023, we have consistently achieved and replicated positive results. Our business model is highly repeatable and predictable, thanks to the seasoned team that played an early role in building successful brands like Mucho Burrito, Fresh, Extreme Pita, and Burgers Priest."

"We look forward to continuing to execute on our franchising model as we accelerate our growth organically with our current brands and inorganically through accretive M&A. The rapid expansion of the Heal Wellness brand is a prime example of our ability to execute. As free cash flow increases from the brand, we anticipate accelerating our corporate store development schedule with supplemental growth coming from our franchise program."

For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at hello@happybellyfg.com.

About Heal Wellness
Heal Wellness was created out of a passion and mission to serve quick, fresh wellness foods that power and support a busy, active lifestyle. Currently, we are pleased to offer a wide variety of smoothie bowls, smoothies, and delicious breakfast waffles. We are proud to highlight that every superfood ingredient in the Heal Wellness menu is carefully selected with the intention of fueling the body with a reduced ecological.

About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: VGANF) ("Happy Belly" or the "Company") is a leading consolidator of emerging food brands.

Happy Belly

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Happy Belly Food Group
Shawn Moniz
Chief Executive 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/205978

FAQ

How many franchise agreements has HEAL Wellness signed in the last 14 months?

HEAL Wellness has signed 24 franchise agreements in the last 14 months.

Where is the 24th franchise of HEAL Wellness located?

The 24th franchise of HEAL Wellness is located in Edmonton, Alberta, at the North Town Centre.

When is the grand opening of the new HEAL Wellness location in Edmonton?

The grand opening of the new HEAL Wellness location in Edmonton is anticipated to be in Q3 2024.

What type of restaurant is HEAL Wellness known for?

HEAL Wellness is known for its fresh smoothie bowls, acai bowls, and smoothies quick serve restaurant.

How many franchises has HEAL Wellness opened in Alberta so far?

HEAL Wellness has opened 6 franchises in Alberta so far.