- Vegan fast-food stock Odd Burger (TSXV:ODD) detailed its U.S. expansion strategy amid recent tariffs on Canadian goods
- The company produces its own plant-based proteins and dairy alternatives at its dedicated manufacturing facility, using primarily Canadian-grown ingredients
- As part of its expansion into the U.S. market, Odd Burger plans to replicate its Canadian model by sourcing ingredients from U.S. farmers and building its own manufacturing facility in the U.S.
- Odd Burger stock (TSXV:ODD) last traded at $0.25
Vegan fast-food stock Odd Burger (TSXV:ODD) detailed its U.S. expansion strategy in the face of recent tariffs on Canadian goods and announce a private placement offering to support these initiatives.
Bringing Canadian success to the U.S.
Odd Burger has established a vertically integrated supply chain in Canada through its manufacturing division, Preposterous Foods Inc. The company produces its own plant-based proteins and dairy alternatives at its dedicated manufacturing facility, using primarily Canadian-grown ingredients. This approach, the company explains, has allowed Odd Burger to minimize external supply chain disruptions, maintain product quality, and reduce costs, even during challenging market conditions.
As part of its expansion into the U.S. market, Odd Burger plans to replicate its Canadian model by sourcing ingredients from U.S. farmers and building its own manufacturing facility in the U.S. By doing so, the company is out to ensure that its food is locally produced, while keeping control over its supply chain. This approach can help mitigate the effects of current tariffs and provide a more resilient supply chain in the U.S.
“Our experience in Canada has shown that a vertically integrated, localized supply chain is key to controlling costs and maintaining high-quality food production,” Odd Burger’s CEO and co-founder, James McInnes said in a news release. “We are confident that by implementing this strategy in the U.S., we can expand quickly while keeping prices stable and offering the same level of excellence that our customers expect.”
$2 million private placement to support expansion
Along with its U.S. expansion efforts, Odd Burger is advancing a non-brokered private placement of up to 6,666,666 shares at $0.30, for total gross proceeds of up to $2 million.
Each Unit consists of one common share and one warrant. Each warrant entitles the holder to purchase one share at $0.35, exercisable for two years from the closing date.
The net proceeds from the offering will be used to fund the establishment of U.S. manufacturing facilities, expand the company’s franchise operations across North America, and for general purposes. This offering is subject to TSX Venture Exchange approval, and all securities issued will be subject to a four-month and one-day hold period from the date issued.
About Odd Burger
Odd Burger is a franchised vegan fast-food restaurant chain that manufactures a proprietary line of plant-based protein and dairy alternatives. The company’s restaurants operate as smart kitchens, using state-of-the art cooking technology and automation solutions to deliver a delicious food experience.
Odd Burger stock (TSXV:ODD) last traded at $0.25 and has risen 70 per cent since this time last year.
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(Top photo: Odd Burger)
