Odd Burger Corporation, a vegan meat maker and fast food chain based in Canada, has announced it is now able to receive public investment from US investors, after confirming its receipt of eligibility from the Depository Trust Company (DTC), the world’s largest securities depository. In addition, the company shared that it has begun trading on the Frankfurt Stock Exchange (FSE), allowing easy access for European investors too.
Simplifying the process of investment for those in the U.S., Odd Burger’s DTC eligibility represents an important milestone in the trading of Odd Burger stock, as does its European FSE listing. OddBurger, formerly Globally Local Technologies Inc., believes going public will give the management team a certain degree of independence. The company was one of the world’s earliest vegan-centric fast-food chains.
Independent management with public backers
Co-founder and CEO James McInnes said of the news: “Our intention to be a publicly-traded company has always been strategic, to maintain a level of independence that isn’t always possible when companies accept venture capital or investments from large food and agriculture conglomerates,”.
According to McInnes, the company’s vision has always been global, which is why the new DTC eligibility, coupled with entry onto the FSE, has been a welcome development. It opens Odd Burger up to a slew of investment potential. McInnes is quick to welcome new interest while keeping the home fires burning. “In Canada, the United States, and now Europe, we can be supported directly by people who share our vision to transform the fast-food industry, and that includes our regular customers.”
Vegan fast food leader
Odd Burger Corporation operates company-owned and franchised locations throughout Canada and the U.S. and runs them as distribution centres for its food tech arm. All vegan meats and cheeses used in Odd Burger restaurants are minimally processed and produced by the company-owned subsidiary.
Challenging preconceptions of the fast-food industry since its inception in 2014, Odd Burger was ahead of the curve with a fully vegan menu and proprietary plant meats and dairy items. While it is by no means the only player, with numerous new outlets raising capital and opening restaurants around the world, eliminating the reliance on third-party suppliers with its own production facility is a unique differentiator. This has allowed for a constant supply of core ingredients its locations.
Currently Odd Burger serves six, and it is equipped to supply a further four in production. The company is planning 10 more for 2022. Menu items include a range of soy and wheat-based vegan burgers inspired by traditional fast-food chains, plus milkshakes, salads, wraps, and sides.
The new restaurants will follow the standard company template of small, cashless destinations equipped with smart kitchens that promote takeaway orders and deliveries, a format that has become a must-have for F&B chains looking to capitalize on skyrocketing covid-induced delivery and takeaway demand.
Odd Burger Corporation is traded under the symbol IA9 on the FSE, ODDAF on the OTCQB and ODD on the TSXV.
Lead image courtesy of Pexels.