Toronto, Ontario--(Newsfile Corp. - April 16, 2025) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands across Canada, is proud to announce the promotion of Randall Papineau from Brand President of iQ Foods to President of Emerging Brands of Happy Belly, effective immediately.
"I am very thankful for the opportunity to work with Randall again. His hands-on approach has been key in transforming our operational strategies of iQ Foods and contributing to our continued success," said Sean Black, Chief Executive Officer of Happy Belly. "Previously in my career we were partners with Recipe Unlimited in Fresh Restaurants which is now owned by Fairfax Financial. Randall previously joined us at Fresh Restaurants and quickly took over leading that brands growth. He did an incredible job with the people, product and driving profitability of Fresh, and as brand president of iQ Foods for Happy Belly he has done a tremendous job with consecutive back-to-back months of profitable growth and operational efficiency. He has directly increased unit profitability and optimized our brands operations. As a direct result of Randall exceeding expectations, and his deep experience with coffee brands, we have now intrusted Randall to oversee our emerging Smile Tiger Coffee Roasters brand in additional to iQ Foods."
"With a proven track record in building strong brands, teams, and profitable operations, Randall's entrepreneurial mindset and hands-on approach make him a perfect fit for leading our emerging brands division at Happy Belly. His leadership experience in the coffee industry, notably as Vice President of Retail Operations at Balzac's Coffee, aligns seamlessly with our strategic roadmap for 2025-2026 of integrating and growing our Smile Tiger Coffee Roasters brand both organically within our existing brands service offerings, but through franchising as well. Randall's leadership will be instrumental in scaling our emerging brands vertical and advancing our strategic roadmap for 2025-2026, driving significant growth for IQ Foods and Smile Tiger.
"Randall's leadership has been pivotal during a time of significant corporate growth for Happy Belly. Randall brings the right mix of operational excellence, culture, and entrepreneurial spirit to Happy Belly. His promotion is a testament to his outstanding leadership and dedication. As we expand our iQ Foods retail presence, along side our Smile Tiger Coffee presence, Randall is the perfect choice to lead both brands."
"In his new role, Randall will oversee the end-to-end operations for Happy Belly's emerging brands division, both corporate and franchised, ensuring alignment with our overall strategic objectives. He will lead initiatives to optimize operational systems, drive profitability, and deliver an exceptional guest experience across our portfolio of brands."
"Our asset-light franchise model enables Happy Belly to continue accelerating growth across all our brands. With a strong foundation, strategic leadership, and a dedicated franchise support system, we are well-positioned to drive sustained success in the Canadian QSR market. This is another step forward in our mission to become a predictable and disciplined growth company, Canada's leading restaurant consolidator."
We are just getting started.
Additional Updates:
The Company announces that it has granted 1,000,000 performance stock options (the "Options") to Randall Papineau in accordance with its Option Plan. The Options are exercisable at $1.14 per common share (the "Shares") and are subject to the following vesting triggers, aligning the performance Options to the board performance warrants earning out at $2.00/share of Happy Belly Shares, all expiring June 2026.
These Options shall vest as follows:
| Options | Vesting Trigger |
| 500,000 | Immediate |
| 250,000 | $1.50 |
| 250,000 | $2.00 |
Franchising
For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at hello@happybellyfg.com.
About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a dynamic multi-branded restaurant company focused on acquiring and scaling emerging food brands across Canada. With a robust portfolio of brands Happy Belly is dedicated to delivering quality, efficiency, and exceptional customer experiences nationwide.
Happy Belly Food Group Inc.
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Sean Black
Chief Executive Officer
Shawn Moniz
Chief Operating 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248713
SOURCE: Happy Belly Food Group Inc.
