Happy Belly's Yolks Breakfast Announces Signing of First Real-Estate Location in Canada's Capital, Ottawa, Ontario, as National Expansion Accelerates

Toronto, Ontario--(Newsfile Corp. - April 11, 2024) - 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 it has secured a real estate location for Yolks Breakfast ("Yolks") in Ottawa. Yolks is a boutique full-service restaurant brand serving delicious breakfast, brunch and lunch.

Yolks Breakfast

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"On April 5^th, 2024, we announced the signing of a five-unit development agreement with a multi-unit franchisee, and one week later we are very excited and pleased to announce that the first real estate location of that agreement has been signed. The first Yolks Breakfast location in Ontario will be in the City of Ottawa, more specifically in the 'The Glebe' which is the heart of Bank Street," said Sean Black, Chief Investment Officer of Happy Belly.

"The signing of this location is a major step forward for Yolks Breakfast, our most recent addition to the Happy Belly family. It signifies our commitment and ability to execute on national expansion with brands that transact with the Happy Belly team. This will be the first of many Ontario-based locations for Yolks as we leverage our previous franchising experience to accelerate the growth of our brands."

"As our stable of emerging brands continues to grow, so does our ability to secure prime real estate locations across Canada. The City of Ottawa continues to grow at an impressive rate and will expand Yolk's customer reach in a heavily populated and demographical aligned area to the brand. The Glebe is a unique and beautiful affluent lifestyle neighbourhood in Ottawa filled with shopping boutiques, Sports Venue TD Place hosting CFL's REDBLACKS, Ottawa's PWHL Team, Ottawa 67's, dozens of restaurants and green spaces. Major brands like Whole Foods Market, Sporting Life, Running Room, Joey Restaurants, Local Public Eatery, Starbucks, Brown's Social House, & McDonald's are all located within The Glebe."

"With possession taking place in Q2 2024, we are just getting started to increase our presence with Yolks here is Ontario. This is our first (1^st) secured real estate location for Yolks in Ontario out of twenty (20) committed units through our area development agreement. We anticipate a number of franchise signings and the securing of multiple real estate locations in 2024 across Canada. As progress unfolds, we look forward to revealing specifics about our initial real estate locations."

"Our approach has always been to focus on the development and growth of emerging brands in the food sector. Yolks Breakfast was an accretive acquisition by Happy Belly Food Group, and it is anticipated that our franchising program will deliver new franchised locations that will continue to drive both the top line and bottom line of Happy Belly's profitability."

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

About Yolks Breakfast
Chef Steve Ewing is a strong proponent of breakfast - it's his favourite meal of the day - which is why its so important to him and why he takes so much care and puts so much effort into its menu. Not only are the eggs free-range, but the bacon is local and the hollandaise isn't some quickie version, but the real deal, just one fast whisking away from le Cordon Bleu. Even the Dijon is made in-house!

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

Happy Belly

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Happy Belly Food Group
Shawn Moniz
Founder, 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 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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