LONDON,
ON, Jan. 31, 2024 /CNW/ - Odd Burger
Corporation ("Odd Burger" or the "Company") (TSXV: ODD)
(OTCQB: ODDAF) (FSE: IA9) announces that its principal
regulator, the Ontario Securities Commission, has granted the
Company an extension for its annual fillings and has granted the
Company its request for a management cease trade order (the
"MCTO").
As previously announced on January 15, 2024 (the
"Announcement"), the Company applied for the MCTO due to an
expected delay in the filing of the audited consolidated financial
statements for the year ended September 30, 2023, annual
management's discussion and analysis for the same period and
management certifications of annual filings (collectively, the
"Filings").
The MCTO restricts the Company's management from all trading in
securities of the Company until such time as the Filings have been
filed by the Company and the MCTO is no longer in effect. The MCTO
does not affect the ability of other shareholders of the Company to
trade in securities of the Company. Odd Burger and its auditor
continue to work diligently toward completing the Filings as soon
as possible with the goal of filing the Filings by February 29, 2024.
The Company confirms that since the date of the Announcement:
(i) there has been no material change to the information set out in
the Announcement that has not been generally disclosed; (ii) the
Company is satisfying and confirms that it intends to continue to
satisfy the provisions of the "alternative information guidelines"
under National Policy 12-203 – Management Cease Trade
Orders ("NP 12-203") and issue bi-weekly default
status reports for so long as the delay in filing the Filings
continues, each of which will be issued in the form of a news
release; (iii) there has not been any other specified default by
the Company under NP 12-203; (iv) the Company is not subject to any
insolvency proceedings; and (v) there is no material information
concerning the affairs of the Company that has not been generally
disclosed.
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 also 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 OTCQB under the symbol "ODDAF". For
more information visit https://www.oddburger.com.
Forward-Looking
Information
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation. All
statements, other than statements of historical fact, included
herein are forward-looking information. In particular, this news
release contains forward-looking information regarding: the filing
of the Filings, including the timing for the filing of the Filings.
There can be no assurance that such forward-looking information
will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such
forward-looking information. This forward-looking information
reflects Odd Burger's current beliefs and is based on information
currently available to Odd Burger and on assumptions Odd Burger
believes are reasonable. These assumptions include, but are not
limited to: the ability of Odd Burger to complete the Filings in
the noted timeframe. Forward-looking information is subject to
known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or
achievements of Odd Burger to be materially different from those
expressed or implied by such forward-looking information. Such
risks and other factors may include, but are not limited to:
general business, economic, competitive, political and social
uncertainties; general capital market conditions and market prices
for securities; delay or failure to receive board or regulatory
approvals; the actual results of future operations; competition;
changes in legislation affecting Odd Burger; the timing and
availability of external financing on acceptable terms; long-term
capital requirements and future developments in the Company's
markets and the markets in which it expects to compete; lack of
qualified, skilled labour or loss of key individuals. A
description of additional risk factors that may cause actual
results to differ materially from forward-looking information can
be found in Odd Burger's disclosure documents on the SEDAR+
website at www.sedarplus.com. Although Odd Burger has attempted
to identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. Readers are cautioned
that the foregoing list of factors is not exhaustive. Readers are
further cautioned not to place undue reliance on forward-looking
information as there can be no assurance that the plans,
intentions or expectations upon which they are placed will occur.
Forward-looking information contained in this news release is
expressly qualified by this cautionary statement. The
forward-looking information contained in this news release
represents the expectations of Odd Burger as of the date of this
news release and, accordingly, is subject to change after such
date. However, Odd Burger expressly disclaims any intention or
obligation to update or revise any forward-looking information,
whether as a result of new information, future events or
otherwise, except as expressly required by applicable securities
law.
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.
SOURCE Odd Burger Corporation