Happy Belly Food Group's iQ Food Co. Secures First Western Canada Real Estate Location in the City of Calgary, Alberta

Executive Summary

• Happy Belly Food Group announced that iQ Food Co. has signed a lease for its first Western‑Canada restaurant in Calgary, marking the brand’s initial expansion outside Ontario.
• The Calgary location will be iQ’s 9th restaurant in Canada and supports an existing pipeline of 65 committed units across Alberta, Ontario and British Columbia.
• The expansion underscores Happy Belly’s organic growth strategy and is expected to contribute positively to unit economics and shareholder value.

Key Details

• Lease Signing: iQ Food Co. secured a real‑estate location in Calgary, Alberta for its first Western Canada restaurant.
• Location Significance: First iQ outlet outside Ontario; 9th iQ restaurant nationwide (7 opened, 1 opening Q2 2026).
• Growth Pipeline: Area Development Agreements total 65 committed units across AB, ON and BC.
• Portfolio Context: Happy Belly’s broader portfolio now includes 666 contractually committed retail franchise locations spanning multiple emerging brands.
• Strategic Rationale: Calgary identified as a “health‑forward” market with strong customer fundamentals, aligning with iQ’s premium healthy‑eating QSR concept and attractive unit economics.
• Leadership Quote: Sean Black, CEO, highlighted the lease as an important step in national expansion and emphasized disciplined real‑estate selection.

Notable Quotes

“Securing our first Western Canada location marks an important step in our national expansion plan for iQ and for Happy Belly,” – Sean Black, Chief Executive Officer, Happy Belly Food Group.

Materiality Assessment: Non‑Material – Positive (operational expansion that is positive but not likely to be material to overall financial results at this time).