Toronto, Ontario--(Newsfile Corp. - August 15, 2024) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging food brands is pleased to announce the opening of its newest Joey Turks Island Grill ("Joey Turks") location at 1900 Eglington Avenue East, a fast casual restaurant serving delicious original Caribbean Island recipes, in the City of Scarborough, Ontario.
"Today is a proud moment for Happy Belly Food Group. Within four short months of securing a real estate location for our franchisee, we are thrilled to celebrate the opening of our first franchised Joey Turks Island Grill. This second location for the brand demonstrates our ability to swiftly execute and deliver on our accelerated growth plan for our brands. In just over 13 months, we have launched the Joey Turks brand from scratch, opened our first corporate location, signed a 30-unit Area Development agreement, and now signed and opened our first franchised location. These are tremendous accomplishments in a short period, and this brand is just getting started," said Sean Black, Chief Investment Officer of Happy Belly.
Joey Turks 1
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"This new location in the city of Scarborough is situated in the eastern part of Toronto. It is a vibrant and diverse city with a rich cultural tapestry. It is one of the largest and most populous areas in the Greater Toronto Area and boasts a mosaic of neighborhoods. Its cultural diversity is evident in its culinary scene, where you can find delicious flavors from foods around the globe in its numerous restaurants and eateries. Scarborough also celebrates its multicultural heritage through festivals and events, showcasing its deep roots in Caribbean and island culture. A perfect location to expand on the Island flavours of Joey Turks Island Grill.
Joey Turks 2
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"We anticipate that this location, anchored with neighbouring tenants such as Starbucks and Wal-Mart, will extend the Joey Turk's customer base in a densely populated area that aligns well with the brand's demographics. This presents us with substantial opportunities both in-store and through delivery services.
"With a total of 376 contractually committed retail locations in the pipeline across all emerging brands in the Happy Belly Portfolio, our team is heads down sourcing and continually reviewing real estate locations, combing through franchisee applications, and working hand in hand with our area developers to accelerate the growth of our asset light franchising model.
"Our overarching strategy has always been to focus on the development and growth of emerging brands within the food sector. Anticipating the continued rollout of our franchising initiative, we expect these new franchised locations to contribute to the company's overall revenue and profitability."
About Joey Turks Island Grill
Joey Turks is your flavorful journey through the islands of the Caribbean, where the warmth and soul of every irresistible bite awaits. Our mission is to unlock the potential for widespread appreciation of authentic Island cuisine through a growing chain of island inspired restaurants. Joey Turks offers a tantalizing island-inspired menu, featuring a diverse array of dishes bursting with irresistible flavors. From savory jerk chicken and succulent island beef stew our menu captures the essence of the islands in every bite. Come Taste Paradise!
About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) is a leading consolidator of emerging food brands.
Happy Belly
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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.
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