10:16 AM EDT, 10/28/2025 (MT Newswires) -- Odd Burger ( ODDAF ) , a player in plant-based fast food technology and franchising, on Tuesday said its previously announced refill private placement under the equity distribution agreement dated Sept. 10, 2025, with Westmount Ventures d/b/a Rockcliffe Capital (investor) and selling shareholder James McInnes has been terminated following the investor's default on its payment obligations.

The company said that, under the terms of the agreement, the investor was required to pay the refill private placement in cash as satisfaction of a promissory note issued to the selling shareholder.

A statement noted that the investor failed to remit payment by the required due date, constituting an event of default under the agreement and the promissory note.

The company said that, as part of the transaction, James McInnes, chief executive officer of Odd Burger ( ODDAF ), transferred around 8.82 million common shares of Odd Burger Corporation ( ODDAF ) to the investor in accordance with the agreement. It added that, to date, these shares have not been returned to McInnes, nor have any proceeds from the sale of such shares been remitted to him or to the company despite the shares being pledged as security against the promissory note.

The company confirmed that no shares were issued by it in connection with this transaction.

A statement further noted that the company and McInnes are pursuing "all available legal and regulatory remedies against both Westmount Ventures, its chairman, Michael Bailey and its president and CEO James Dunn."

"The company intends to pursue recovery of all amounts owed, together with applicable damages, in order to protect the interests of Mr. McInnes, the company and its shareholders," added Odd Burger ( ODDAF ). "The company is currently evaluating alternative financing options and will provide updates as appropriate."

The company's shares were last seen up 5.5% to $0.095 on the TSX Venture Exchange.

Price: 0.10, Change: +0.01, Percent Change: +5.56