financetom
Business
financetom
/
Business
/
Odd Burger Announces U.S. Expansion Plan That Aims to Avoid Tariffs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Odd Burger Announces U.S. Expansion Plan That Aims to Avoid Tariffs
Mar 10, 2025 6:09 AM

08:50 AM EDT, 03/10/2025 (MT Newswires) -- Odd Burger ( ODDAF ) , which is expanding its vegan fast-food restaurant chain in the U.S., on Monday said its strategy will involve sourcing ingredients from U.S. farmers and building its own manufacturing facility in the U.S.

The plan aims to mitigate the effects of current tariffs and provide a more resilient supply chain in the U.S.

"Our experience in Canada has shown that a vertically integrated, localized supply chain is key to controlling costs and maintaining high-quality food production," said James McInnes, CEO and Co-Founder of Odd Burger ( ODDAF ). "We are confident that by implementing this strategy in the U.S., we can expand quickly while keeping prices stable and offering the same level of excellence that our customers expect."

Odd Burger ( ODDAF ) also plans to raise $2 million through a private placement of units, to fund its U.S. expansion. The company will issue up to 6.7 million units at $0.30 each. Each unit consists of one share and a two-year warrant that can buy an additional share at $0.35.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Lifecore Biomedical Finance Chief John Morberg to Step Down; Successor Named
Lifecore Biomedical Finance Chief John Morberg to Step Down; Successor Named
Sep 1, 2024
08:18 AM EDT, 08/29/2024 (MT Newswires) -- Lifecore Biomedical ( LFCR ) said Thursday that John Morberg is stepping down as chief financial officer, effective Sept. 2, to pursue other professional opportunities and spend time with family. Ryan Lake will take on the CFO role, effective Sept. 3. Lake most recently served as CFO of Societal CDMO Inc. Shares of...
Catalent beats revenue estimates ahead of deal close with Novo Nordisk parent
Catalent beats revenue estimates ahead of deal close with Novo Nordisk parent
Sep 1, 2024
(Reuters) - Contract drug manufacturer Catalent ( CTLT ) beat analysts' estimates for fourth-quarter revenue on Thursday, helped by its biologics segment that develops and manufactures cell and gene therapies. WHY IT'S IMPORTANT The company is the main supplier of fill-finish work - involving the filling and packaging of syringes and injection pens in sterile conditions - including for Danish...
Polestar Q2 Operating Loss Narrows, Revenue Falls
Polestar Q2 Operating Loss Narrows, Revenue Falls
Sep 1, 2024
08:21 AM EDT, 08/29/2024 (MT Newswires) -- Polestar (PSNY) reported a Q2 operating loss Thursday of $242.3 million, narrowing from an operating loss of $273.6 million a year earlier. Revenue for the quarter ended June 30 was $574.9 million, down from $693.3 million a year earlier. Analysts surveyed by Capital IQ expected $642.8 million. The company reported cash and cash...
Update: Avicanna Up 4% as Fully Repays Debentures
Update: Avicanna Up 4% as Fully Repays Debentures
Sep 1, 2024
12:02 PM EDT, 08/30/2024 (MT Newswires) -- Avicanna ( AVCNF ) said Friday it cleared and fully repaid about $1.445 million owed under its debentures issued on Aug. 2, 2023. Avicanna ( AVCNF ) is a biopharmaceutical company focused on developing plant-derived cannabinoid-based products. The company's shares were last seen up $0.015 to $0.395 on the Toronto Stock Exchange. Price:...
Copyright 2023-2026 - www.financetom.com All Rights Reserved