Odd Burger Corporation has announced a capital raise of $1.5 million through a private placement of 8.3 million common shares priced at $0.18 per share. The funds will be used to expand the company's operations, including opening new franchises, increasing retail distribution, and supporting product development. The deal includes Odd Burger CEO James McInnes selling some of his shares to Rockcliffe Capital at a premium price to support the company's capital needs.

While the private placement is classified as a "related party transaction" due to McInnes' involvement, it falls within certain exemptions and does not require additional formal approval processes. McInnes' stake in Odd Burger will reduce to around 20.5% after the deal, and he has stated that he may adjust his shareholding in the future. The approval for the deal and private placement is still pending from the TSX Venture Exchange, which oversees publicly traded companies like Odd Burger.