Happy Belly's Heal Wellness Announces the Signing of a Franchise Agreement for the City of Vaughan, Ontario

Toronto, Ontario--(Newsfile Corp. - May 22, 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 signed a franchisee for the City of Vaughan for its Heal Wellness brand, a fresh smoothie bowls, acai bowls, and smoothies quick serve restaurant ("QSR").

"As our Heal Wellness franchise program successfully attracts franchisees nationwide, we are observing a clear link between the rapid expansion of our franchise initiative and its positive impact on our brands. Our accelerated franchise program has been delivering results on a consistent and repeatable basis, today is yet another example of that execution", said Sean Black, Chief Investment Officer of Happy Belly.

"The recent signing of Heal's 35th franchise agreement for the City of Vaughan highlights this growth. In just over a year, we have secured 35 units for Heal Wellness through executed Franchise Agreements or committed Multi-Unit Agreements, with many already in construction, design, or searching for a retail location. This progress, coupled with our area developers' achievements in franchise sales, signals that the Heal brand has truly taken off as a growth brand. We are seeing applications coming in from across North America as Heal is gaining recognition as its presence expands not only in Alberta but also throughout British Columbia and Ontario."

"As we work with our real estate partners to search for sites that match our customers demographics, we also eagerly anticipate expanding to diverse and non-traditional locations like Universities, Hospitals, Travel Plazas, and Airports which our team has extensive experience working within. Heal offers a proven business model that has achieved success across various markets. This model provides franchisees with a blueprint for success, minimizing the risks typically associated with entrepreneurship. Our franchise program empowers franchisees to reach their business goals while upholding the integrity and reputation of our brands."

"We look forward to continuing our accelerated growth both organically with our current brands and inorganically through strategic M&A. The rapid expansion of the Heal Wellness brand exemplifies our ability to execute effectively. As free cash flow from the brand increases, we plan to accelerate our corporate store development schedule with additional growth stemming from our franchise program."

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

Heal Wellness was founded with a passion and mission to provide quick, fresh wellness foods that support a busy and active lifestyle. We currently offer a diverse range of smoothie bowls and smoothies. We take pride in meticulously selecting every superfood ingredient on our menu to fuel the body, including acai smoothie bowls, smoothies, and super-seed grain bowls. Our smoothie bowls are crafted with real fruit and enriched with superfoods like acai, pitaya, goji berries, chia seeds, and more.

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

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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 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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