Happy Belly Food Group Inc. announced it has signed as of April 15th, 2024, second multi-unit franchise agreement for Yolks Breakfast ("Yolks") that will see three full-service restaurants being developed in Calgary, Alberta. Yolks is a boutique restaurant brand serving delicious breakfast, brunch and lunch in the Vancouver area. With the addition of this multi-unit agreement, have now reached a total of eight units committed for franchise development in less than three months since closed on the Yolks acquisition.

As progress unfolds, the company look forward to revealing specifics about initial real estate locations. Anticipating the continued rollout of the franchising initiative, The company expects these new franchised locations to contribute to the company's overall revenue and profitability. The city of Calgary continues to rapidly grow at an impressive rate and will expand Yolks customer reach in a heavily populated and demographical aligned area to the brand, giving company tremendous opportunity in-store, as well as delivery.

The asset-light franchise model, integral to the entire restaurant brand lineup, remains a cornerstone of Happy Belly's future growth strategy. We're committed to enhancing asset value through disciplined organic growth initiatives. The company's accelerated franchise program has been delivering results on a consistent and repeatable basis for just over a year, attaining 48 signed commitments of net new franchise units out of a contractually committed 275 across company portfolio of brands in both Canada and the US.