Happy Belly's HEAL Wellness QSR Opens New Corporate Location in Milton Ontario

Toronto, Ontario--(Newsfile Corp. - May 12, 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 it has completed construction and opened a new corporate location for its Heal Wellness brand in the heart of downtown Milton.

"In less than five weeks since we announced the signing of our Milton location our partners at Heal Wellness have constructed and opened a net new corporate location. This demonstrates our team's ability to help our brands accelerate their speed to market" said Sean Black, CIO of Happy Belly. "This is the third new corporate location opened since Heal Wellness was acquired, its fifth location in total, and we anticipate more net new openings on the way in 2023. Furthermore, the new location will replicate the successful integration and leveraging of shared resources that is currently being utilized across our brand portfolio."

"We would like to thank our team for once again opening another corporate location so quickly with very low capital requirements. This new location expands HEAL's customer reach in an area that is heavily populated and is demographical aligned to the brand, giving us tremendous opportunity in-store, as well as delivery. Having a stable of emerging QSR growth brands is what will allow Happy Belly to quickly leverage real estate opportunities like this recent project to accelerate our disciplined organic growth. We look forward to continuing to execute on our model as we accelerate our growth organically and inorganically through accretive M&A. The rapid expansion of the Heal Wellness brand is a prime example of our ability to execute."

Heal Wellness was an accretive acquisition by Happy Belly Food Group, and it is anticipated that new store locations will continue to drive both the top line and bottom line of the company.

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For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].

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.

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 [email protected]
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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.sedar.com.

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