Happy Belly's Smash Burger Brand Rosie's Burgers Opens 3rd Location in Toronto's Newest Urban Development, The Well.

Toronto, Ontario--(Newsfile Corp. - May 27, 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 the opening of the third (3^rd) location of Rosie's Burgers ("Rosie's"), a boutique QSR restaurant brand serving original recipe smash burgers, poutine, onion rings, milkshakes and more, at the Well, in downtown Toronto.

"With our foot firmly on the gas and accelerating growth, we are pleased to announce that our smash burger brand, Rosie's Burgers, has opened its third location in a prime spot in the bustling pedestrian area of The Well in downtown Toronto. Leveraging our extensive network of landlord relationships and franchisee groups, we are confident in our ability to build a nationwide smash burger brand once again," said Sean Black, Chief Investment Officer of Happy Belly. "We would like to thank RioCan (REI.UN) and Allied Properties (AP.UN) as we continue to collaborate with them to expand our brand footprint across Canada."

"We are engaged in numerous discussions with various groups throughout Canada to accelerate the growth of our brand portfolio. Opportunities abound as we organically expand Happy Belly's presence in the QSR space. We are excited to share updates on newly secured locations for our brands as we continue to drive growth through our asset-light franchise model."

"This marks another step forward in our mission to become a predictable and disciplined growth company. Happy Belly now has commitments for 300 franchised units with area developers across seven brands in Canada. We're just beginning our growth journey, and 2024 is set to be a pivotal year for Happy Belly."

Rosie's

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"Our approach has always been to focus on the development and growth of emerging brands in the food sector. Rosie's Burgers 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 the company."

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

About the Well
The Well is currently one of the largest multi-use developments in Canadian history, scheduled to finish construction in June 2023. Covering a total of 7.8 square acres. The Well features six residential towers of 14-46 stories, and a 36-story office tower with three floors of extensive retail space on the ground level.

About Rosie's Burgers
Deliciously handcrafted smashed burgers, golden fries, and classic milkshakes. Rosie's is your neighbourhood burger shop serving up nostalgic flavours you know, love, and crave. From our Smashburger's and French fries to strawberry shakes and onion rings-we're all about keeping things simple and perfecting tradition. Because the classics were made classic for a reason, right?

About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: VGANF) ("Happy Belly" or the "Company"), 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 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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