Happy Belly's Heal Wellness QSR Takes Next Steps Towards US Entry with the Signing of a Ten-Unit Term Sheet in Florida, USA

Toronto, Ontario--(Newsfile Corp. - December 1, 2023) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: VGANF) ("Happy Belly" or the "Company"), a leading consolidator of emerging food brands is pleased to announce that further to its news release on November 24^th stating the preparation for US entry of its Heal Wellness brand ("Heal"), that it has now signed as of November 30^th, 2023, a ten-unit term sheet for the state of Florida for Heal, a fresh smoothie bowls, acai bowls, smoothies, and delicious breakfast waffles quick serve restaurant.

"As we continue to evolve our materials for adapting a franchising framework within the United States, such as preparing our franchising disclosures and franchising agreements, we now do so with a ten-unit commitment signed by a multi-unit franchisee. This is another step forward in the process of starting to plant our feet in the United States," said Sean Black, Chief Investment Officer of Happy Belly.

"Having a franchisee located in Florida gives us boots on the ground as we proceed to establish our presence in the United States, a key step for both Happy Belly and our portfolio of emerging brands. Our real-estate search has begun as we look to identify and map out various locations in south east Florida suitable for the demographic profile of a Heal customer. This was a very important step during my previous experience with both Extreme Brandz and MTY Food Group as I helped several of their brands gain entry into the United States. I look forward to working with our franchisee as I firmly believe we have a tremendous opportunity in front of us as we accelerate the growth of our Heal Wellness brand in an asset light franchise model across the state of Florida."

"We anticipate continued demand for our franchising offerings as we continue to organically grow our footprint throughout North America for each brand in our portfolio. We look forward to working closely with interested parties and our brands, beginning with Heal Wellness as our first brand entry into the United States. We anticipate this entry to be the first of many over time into the United States."

Heal Wellness 

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For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at hello@happybellyfg.com.

About Heal Wellness
Prior to becoming a founding partner of Heal Wellness, Jay Zuccato was a spokesperson alongside a globally distributed nutritional companies to market health and wellness foods. Long-time childhood friend and also a founding partner of Heal Wellness, Jesse Davidson, specialized in business operations with one of Canada's top protein companies as they grew nationwide in operations and storefronts.

With these strong backgrounds and a passion for wellness, they came together to identify a need for a quick-serve healthy food lifestyle. In June of 2019, they responded to this need by opening the first Heal Wellness location in their hometown of Hamilton, Ontario with the goal of being at the forefront of the health food revolution.

"Heal Wellness was created out of a passion and mission to serve quick, fresh wellness foods that power and support a busy, active lifestyle. Currently, we are pleased to offer a wide variety of smoothie bowls, smoothies, and delicious breakfast waffles. We are proud to highlight that every superfood ingredient in the Heal Wellness menu is carefully selected with the intention of fueling the body with a reduced ecological footprint," said Jesse Davidson, Co-founder of Heal Wellness.

For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at hello@happybellyfg.com.

About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: VGANF) ("Happy Belly" or the "Company") is a leading consolidator of emerging food brands.

Happy Belly Food Group
Shawn Moniz
Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE VISIT:

www: www.happybellyfg.com or email hello@happybellyfg.com
If you wish to contact us please call: (604) 737-2303

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 LumberHeads Food Co. 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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