Odd Burger Appoints New Chief Financial Officer and Announces Grand Opening of Second Edmonton Location
Vasiliki McInnes Appointed as Chief Financial Officer
Vasiliki McInnes, Odd Burger's co-founder, former Chief Operating Officer, and largest shareholder has been appointed Chief Financial Officer, effective July 25, 2025. Vasiliki has played a critical role in the financial operations of Odd Burger since January 2024 and has led the company's annual financial audit for the past two years. Her deep understanding of Odd Burger's strategic vision and her extensive experience in operations and financial leadership makes her an ideal fit for this role.
"Vasiliki has been a driving force behind Odd Burger's growth and financial discipline," said James McInnes, CEO and Co-Founder of Odd Burger. "Her leadership, commitment, and deep alignment with our mission, positions her perfectly for the CFO role as we enter this next stage of expansion."
Grand Opening: Second Edmonton Location
Odd Burger is also pleased to announce the grand opening of its second Edmonton location at 9518 Ellerslie Road, Edmonton, AB. The celebration will take place on Saturday, August 2, 2025, from 12:00 PM to 6:00 PM, with a ribbon cutting ceremony at 12:00 noon to kick off the festivities.
Highlights of the grand opening include:
$1 plant-based soft serve available all day
25% of all sales donated to Farm Animal Rescue and Rehoming Movement (FARRM), a local sanctuary that provides a safe haven for surrendered and abused farm animals and cats near Wetaskiwin, AB
Free Odd Burger tote bags for the first 30 people in line
This new location continues Odd Burger's mission to make sustainable, ethical, and delicious fast food more accessible across Canada and expands its footprint in Edmonton AB where it successfully operates a franchise location in the west end.
Odd Burger Announces Refiling of CFO Certificate for Interim Financial Statements
Odd Burger has refiled its CFO certificate for Q2 2025 interim financial statements, originally filed on May 29 th 2025. The refiling is a result of a clerical error, resulting in the incorrect version filed on SEDAR+.
Odd Burger confirms that the refiled CFO certificate is now accurate and compliant with all applicable requirements of the TSX Venture Exchange. The refiling does not have any impact on the company's previously reported financial statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Odd Burger Corporation
Odd Burger Corporation is a franchised vegan fast-food restaurant chain and food technology company that manufactures a proprietary line of plant-based protein and dairy alternatives. Its manufactured products are distributed to Odd Burger restaurant locations through its foodservice line and also sold at grocery retailers through its consumer-packaged goods (CPG) line. Odd Burger restaurants operate as smart kitchens, which use state-of-the art cooking technology and automation solutions to deliver a delicious food experience to customers craving healthier and more sustainable fast food. With small store footprints optimized for delivery and takeout, advanced cooking technology, competitive pricing, a vertically integrated supply chain along with healthier ingredients, Odd Burger is revolutionizing the fast-food industry by creating guilt-free fast food that can be enjoyed at its restaurant locations or at home though its CPG line. Odd Burger Corporation is traded on the TSX Venture Exchange under the symbol "ODD" and on the OTCPK under the symbol "ODDAF". For more information visit https://www.oddburger.com.
Forward-Looking Information
This news release contains forward-looking information for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "proposed", "expects", "intends", "may", "will", and similar expressions. Forward looking information contained or referred to in this news release includes statements relating to future restaurant openings, potential franchisees, demand for our products and other similar statements. Forward-looking information is based on several factors and assumptions which have been used to develop such information, but which may prove to be incorrect including, but not limited to material assumptions with respect to the continued strong demand for the Company's products, the availability of sufficient financing on reasonable terms to fund the Company's capital requirements and the ability to obtain necessary equipment, production inputs and labour. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forwardlooking information because the Company can give no assurance that such expectations will prove to be correct. Risks and uncertainties that could cause actual results, performance or achievements of the Company to differ materially from those expressed or implied in such forward-looking information include, among others, negative cash flow and future financing requirements to sustain and grow operations, limited history of operations and revenues and no history of earnings or dividends, expansion of facilities, competition, availability of raw materials, dependence on senior management and key personnel, general business risk and liability, regulation of the food industry, change in laws, regulations and guidelines, compliance with laws, unfavourable publicity or consumer perception, product liability and product recalls, risks related to intellectual property, difficulties with forecasts, management of growth and litigation, as well as the impact of, uncertainties and risks associated with the ongoing COVID-19 pandemic, many of which are beyond the control of the Company. For a more comprehensive discussion of the risks faced by the Company, please refer to the Company's Annual Information Form filed with Canadian securities regulatory authorities at www.sedar.com. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
Non-GAAP Measures
This news release may refer to certain non-GAAP measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS, and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release
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VANCOUVER, BC, Aug. 1, 2025 /CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE: B04Q) (" SKRR" or the " Company") is pleased to announce that it has entered into a non-binding letter of intent (" LOI") dated July 31, 2025 with Kenz Global Resources Ltd. (" KENZ") in respect of a proposed business combination (the " Proposed Transaction"), whereby SKRR proposes to acquire all of the issued and outstanding securities of KENZ in exchange for the issuance of securities of the Company, which will result in KENZ becoming a wholly-owned subsidiary of the Company. It is anticipated that the Proposed Transaction will constitute a "Reverse Takeover" of the Company in accordance with Policy 5.2 – Changes of Business and Reverse Takeovers of the TSX Venture Exchange (the " Exchange") where the existing shareholders of KENZ will own a majority of the outstanding common shares of the Company and the Company is expected be renamed to such name as the Company and KENZ may determine (the " Resulting Issuer"). Upon completion of the Proposed Transaction, it is anticipated that the Resulting Issuer will be listed as a Tier 2 - Mining Issuer on the Exchange. All currency references herein are in Canadian currency unless otherwise specified. About KENZ KENZ is a private company, incorporated under the Business Corporations Act (British Columbia) on April 16, 2019 and is based in Vancouver, British Columbia. KENZ, through its Saudi Arabian subsidiaries, owns and operates several exploration blocks located in Saudi Arabia, including a 63% interest (a " Majority Interest") in its material property, the AM ARTI mineral exploration and development project in Saudi Arabia (the " AM ARTI Project"). KENZ holds its Majority Interest in the AM ARTI Project, and all assets related to the operation and administration thereof, through its Saudi Arabian incorporated subsidiary, Kenz Global Resources Limited, registration number: 1010863037 (" Kenz Saudi Arabia"). KENZ is authorized to issue an unlimited number of common shares and an unlimited number of preferred shares of which 33,740,702 common shares are currently issued an outstanding. It is anticipated that prior to closing the Proposed Transaction, KENZ will complete a consolidation (the " Consolidation") on a ratio to be determined in consultation with KENZ's legal and financial advisors and SKRR. The Am Arti gold Project covers a 99 km² license and is strategically located in the Afif Terrane along the Nabitah Suture Zone of the Arabian–Nubian Shield. The project benefits from excellent regional infrastructure and alignment with Saudi Arabia's Vision 2030 mining initiatives. Terms of the Proposed Transaction Pursuant to the terms and conditions of the LOI, the Company and KENZ will negotiate and enter into a definitive agreement (the "Definitive Agreement") incorporating the principal terms of the Proposed Transaction as described in the LOI and this news release. There is no assurance that a Definitive Agreement will be successfully negotiated or entered into. The LOI is expected to be superseded by the Definitive Agreement to be negotiated between the parties. The Proposed Transaction will be structured as a share exchange, plan of arrangement, amalgamation or other form of business combination based on the advice of the parties' respective advisors and taking into account various securities, tax, operating and other considerations. Upon the satisfaction or waiver of the conditions set out in Definitive Agreement, the following, among other things, will be completed in connection with the Proposed Transaction: a) SKRR will acquire all of the issued and KENZ Shares from the shareholders of KENZ in consideration for the issuance of common shares of SKRR (" Resulting Issuer Shares") on a pro rata basis to their shareholdings in KENZ on an exchange ratio such that upon closing of the Proposed Transaction, subject to the approval of the Exchange, the shareholders of SKRR will hold 25% of the issued and outstanding Resulting Issuer Shares and former shareholders of KENZ will hold 75% of the issued and outstanding Resulting Issuer Shares, on a fully-diluted basis; b) the board of directors of the Resulting Issuer will be comprised of six (6) directors, consisting of four (4) nominees from KENZ, one nominee from Haywood Securities Inc., Kenz's financial advisor and one nominee from SKRR. 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During the Exclusivity Period, KENZ will not, directly or indirectly, through any officer, director, agent, affiliate, employee, advisor or otherwise: (i) solicit or initiate the submission of any proposal (other than the transactions contemplated in the LOI) or offer from any person, group or entity relating to any acquisition of KENZ and/or the AM ARTI Project, or other similar transaction or business combination involving the business of KENZ and/or the AM ARTI Project, or (ii) participate in any negotiations or discussions regarding or furnish to any other person, group or entity any information with respect to, or otherwise cooperate in any way with or facilitate, any effort or attempt by any other person, group or entity to do or seek such acquisition or other transaction (any of the foregoing, a " Proposal"). Notwithstanding the foregoing, this provision does not prohibit or restrict KENZ and/or its representatives from taking any action, response or corporate step where such action, response or corporate step is taken (i) in response to a Proposal initiated, or submitted to KENZ, by an unsolicited person, and (ii) by KENZ's directors in connection with the fulfilment of their fiduciary duties after consultation with KENZ's legal advisors. The parties have the option, if mutually agreed, to extend the expiration of the Exclusivity Period upon notice in writing of same, to the earlier of December 31, 2025 or execution of the Definitive Agreement. Bridge Loan In connection with the Execution of the LOI, SKRR has agreed to advance a bridge loan (the " Bridge Loan") comprised of (i) an initial advance in the amount of $25,000 to be advanced immediately; and (ii), subject to receipt of TSXV approval, upon request up to an additional $375,000, which funds KENZ will use to fund operations until the closing of the Proposed Transaction including costs associated with "road shows" and marketing, exploration, audit and accounting fees including preparation of audited financial statements, legal fees, preparation of a National Instrument 43-101 report on the AM ARTI Project, and other costs related to the Proposed Transaction. The Bridge Loan will be evidenced pursuant to a secured promissory note, secured by a general security agreement, and payable on demand upon termination of the Transaction. Conditions of the Proposed Transaction Completion of the Proposed Transaction is subject to the satisfaction of the following closing conditions, including, but not limited to: negotiation and execution of the Definitive Agreement and accompanying transaction documents, including, but not limited to, all necessary documents relating to the Loan; the satisfactory completion of due diligence by each of SKRR and KENZ; delivery of a technical report on the AM ARTI Project, compliant with National Instrument 43-101 and in a form acceptable to the Exchange; the delivery of audited, unaudited and pro forma financial statements of each party that are compliant with Exchange policies; if required by the Exchange, KENZ delivering a title opinion for each of its material international properties in form and content satisfactory to the Exchange and SKRR; receipt of all required approvals and consents relating to the Proposed Transaction, including without limitation, the approvals from the board of directors of both SKRR and KENZ, any required approvals of the shareholders of SKRR and KENZ, required approval of the Exchange, necessary third party approvals, governmental approvals and other approvals under applicable corporate or securities laws; if required by the Exchange, delivery of a sponsor report and an independent valuation satisfactory to the Exchange; the Consolidation and the name change contemplated in connection with the Proposed Transaction shall have been implemented; the closing of the Proposed Transaction on or prior to December 31, 2025; preparation and filing of a filing statement outlining the definitive terms of the Proposed Transaction and describing the business to be conducted by the Resulting Issuer following completion of the Proposed Transaction; if the Exchange deems any property of KENZ, other than the AM ARTI Project, to be a material property of KENZ, KENZ shall either deliver a technical report prepared in accordance with NI 43-101 for such property, or divest any interest or ownership it holds in such property; and the Exchange's approval for listing the shares of the Resulting Issuer. 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ON BEHALF OF THE BOARD Sherman Dahl President & CEO Tel: 250-558-8340 This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold in the "United States", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available. Cautionary Note Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, disinterested approval. 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All information contained in this news release with respect to SKRR and KENZ was supplied by the parties, respectively, for inclusion herein, and SKRR and its respective directors and officers have relied on KENZ for any information concerning such party. Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release. 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Although SKRR believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because SKRR can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. 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Although each of SKRR and KENZ believes that the expectations reflected in forward looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, each of SKRR and KENZ disclaims any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
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