Happy Belly's Heal Wellness QSR Announces the Opening of Its Newest Location in West Abbotsford, British Columbia

Toronto, Ontario--(Newsfile Corp. - August 9, 2024) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging food brands is pleased to announce the opening of its newest Heal Wellness location at Highstreet Shopping Centre, unit G115, in the City of West Abbotsford, British Columbia, this Saturday August 10^th, 2024.

Heal Wellness

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"Opening our newest Heal Wellness franchised location, serving fresh smoothie bowls, acai bowls, and smoothies is another store opening not only for Heal but for Happy Belly's portfolio of emerging brands in 2024," said Sean Black, Chief Investment Officer of Happy Belly. "This will be our tenth (10^th) Heal location, our second (2^nd) of ten (10) for British Columbia, and our fifth (5^th) franchised location that has opened in the Happy Belly Portfolio this year, with many more still to come. We have a commitment of 60 units for Heal in the pipeline across Canada and the US. We are seeing a progressive stream of openings for Heal Wellness and Happy Belly as we continue to leverage our franchising experience and framework to accelerate our growth."

"As each store opens, our Happy Belly footprint expands. With five (5) of our brands currently having store locations under construction, we look forward to announcing several openings throughout 2024 as we continue to sign franchise agreements and secure prime real estate locations for our franchisees across Canada."

"We anticipate that The West Abbotsford location will extend Heal's customer base in a densely populated area that aligns well with the brand's demographics. This presents us with substantial opportunities both in-store and through delivery services. West Abbotsford continues to grow at an impressive rate and promotes a focus on health and wellness, making it an ideal location for a business centered around healthy, natural ingredients. The city's growing population and active lifestyle culture create a strong market demand for nutritious and convenient food options like acai bowls and smoothies."

"With a total of 376 contractually committed retail locations in the pipeline across all emerging brands in the Happy Belly Portfolio, our team is heads down sourcing and continually reviewing real estate locations, combing through franchisee applications, and working hand in hand with our area developers to accelerate the growth of our asset light franchising model. The rapid expansion of the Heal Wellness brand serves as a testament to our ability to execute effectively. As the brand's free cash flow grows, we anticipate accelerating our corporate store development timeline, supplemented by the growth of our franchise program."

We are just getting started.

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: HBFGF) ("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

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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