October 17, 2017 08:00 ET
Amfil Technologies Inc. Provides Update on Audit Completion,
Uplisting / Dividend, Franchising and General Company
Operations
TORONTO, ON- (NewMediaWire - Oct 17, 2017) - Amfil Technologies
Inc. (OTC PINK: AMFE) is pleased to provide shareholders and the
investment community with the following update on the company's
operations.
Given the multitude of significant events and subsequent
announcements expected in the coming weeks, management would like
to take this opportunity to communicate several secondary, yet
exciting company developments.
Snakes & Lattes establishes Exclusive Partnership with
Lending Loop
Snakes & Lattes has entered into an EXCLUSIVE partnership
with Lending Loop, Canada's first fully regulated peer-to-peer
lending platform focused on small businesses. This partnership will
fuel and facilitate the mass expansion of the Snakes and Lattes
brand across North America, while simultaneously preserving
shareholder value. This is the first time in history that Lending
Loop has made a direct partnership to finance a growing company,
and they will be conducting a mass marketing/advertising campaign
to promote both Lending Loop and Snakes & Lattes.
This partnership solidifies management's' commitment to maintain
and further increase shareholder value by avoiding traditional
toxic financing deals that are becoming prevalent within the
industry. In contrast, Amfil is collaborating with financial
innovator, Lending Loop, to fuel the subsidiary's growth at a fair
market rate with flexible cash repayment terms.
Further details relating to this new partnership will be
released as it develops.
For more information about Lending Loop please visit
www.lendingloop.ca/
Snakes & Lattes awards first right of refusal to franchise
the Kitchener/Waterloo region of Ontario
The Kitchener/Waterloo region, and Southern neighbor Cambridge,
has a combined 523,894 people, and it is the fourth largest Census
Metropolitan Area in Ontario. A large portion of the population
consists of students attending the various colleges/universities in
the area including the University of Waterloo, Wilfred Laurier
University, and Conestoga College. Additionally, Kitchener is home
to Google's Canadian headquarters.
This marks the second solidified franchise location to be
awarded with the first right of refusal, with many more still in
the final stages. Further announcements relating to franchising can
be expected shortly as the initiative continues to advance.
The Snakes & Lattes franchise planned for Hamilton -
Update
Since being awarded the first right of refusal, the prospective
franchisee has been incorporated, and it engaged a real estate
agent to pinpoint the perfect commercial location. Prime locations
have been selected and short-listed, and the franchisee intends to
open a "pop-up shop" Snakes & Lattes location just in time for
the Christmas rush. This initiative will spark interest and provide
the local community a sneak peek of what is expected when the
location officially launches on the intended grand opening in
Spring 2018.
Further updates relating to the Hamilton franchise will be
released as they develop.
Update on the auditing of the company's financials and
subsequent uplisting, spinoff / dividend
RBSM LLP, the auditors engaged to audit the company's
financials, are in town this week to review the company's inventory
as the final stage before completion. The audit process has been
smoother than expected as Amfil's accountants have been
exceptionally diligent in maintaining thorough and accurate
financial records of all transactions. Amfil Technologies Inc. is
the first publicly traded company to exclusively use Xero
Accounting for its bookkeeping. Xero Accounting Software has
provided a low-cost, high efficiency platform to effectively manage
all accounting practices.
Once the audit is completed and the required information
submitted to OTC Markets, AMFE will be immediately uplisted from
the pink sheets to the OTCQB, and once price allows, to the QX.
Following the audit and uplist, the company will execute a
spin-off of the Interloc-Kings Inc. subsidiary into a separate
publicly traded entity, which all shareholders at the date of
record will receive shares in. The date of record and the share
structure/format of the new entity, including share entitlements to
shareholders, will be announced shortly. Proceeding the previously
mentioned announcement, details related to the business plan of
Interloc-Kings Inc, including potential acquisitions, will be
released to the investment community.
Further information relating to the above-mentioned initiatives
regarding the company's structure will be announced as they
develop.
Snakes & Lattes Inc prepares for the Holiday Season's
Corporate Events
Snakes & Lattes has become a well sought-after and desirable
venue for corporate events, including Holiday Parties. Demand for
the 2017 holiday season has been staggering, rising approximately
100% compared to last year. Management is being selective when
agreeing to grant rentals for corporate events, and they are
ensuring that repeat clients, some of whom book multiple events
throughout the year, obtain their desired booking dates. Management
is working diligently to ensure that the Midtown location is
available to cater to the increased demand.
Our corporate event clients include; McDonald's Canada, Royal
Bank of Canada, Toronto Dominion Bank, Bank of Montreal,
Scotiabank, KPMG, Accenture, Rogers, Mozilla, Spinmaster, the
Government of Ontario, and many more.
Overview
The company is thriving and continues to expand operations as
the growth oriented business model is executed by management. The
company looks forward to the final stages of audit completion and
submission to the OTC Markets, allowing us to move off the pink
sheets and onto the OTCQB and eventually the QX. The timing is
perfect as we come off our biggest quarter to date and are entering
the strongest quarter historically for the Snakes & Lattes
subsidiary. This is in the midst of a large-scale expansion and
franchising of the Snakes & Lattes retail division and the
advancement of the GRO3 initiatives. GRO3 is currently in the
process of solidifying significant partnerships and integrations of
the GRO3 technologies into developing marijuana cultivation
facilities. Further information relating to the GRO3 initiatives
can be expected shortly.
The record breaking Fiscal Q1 numbers will be released by close
of business Friday, Oct. 20th 2017 and will be followed by a Q1
press release on Monday.
For more information regarding the company, please visit
www.amfiltech.com and follow us on Twitter for further
updates @AmfilTech.
For more information on Snakes & Lattes Inc. please visit
www.snakesandlattes.com
For more information on GRO3, please visit gro3systems.com
About Us
Amfil Technologies, Inc. is the parent company to three wholly
owned subsidiaries.
1). Snakes & Lagers Inc. holds the trade name and is the
owner of Snakes & Lattes Inc. which currently operates a 6,000
sq. ft. and a 7,500 sq. ft. tabletop gaming bar and cafe located in
Toronto, Ontario that brought in over $7M CAD in revenue last year.
It is in the process of opening a third location at 10,000 sq. ft.,
the largest to date. Snakes & Lagers Inc. is also the
procurement officer of all existing and future Snakes & Lattes
Inc. franchises and has the exclusive rights to sell franchise
locations globally. Snakes & Lattes Inc. was the first board
game bar and cafe in North America, is believed to be the largest
in the world and have the largest circulating public library of
board games in North America for customers to choose from. Snakes
& Lattes Inc. currently has a 90 member staff and recently
acquired the exclusive distribution rights throughout Canada for
some of the most popular board games in the world. BlogTO.com
recently named Snakes & Lattes Inc. the best late night cafe in
Toronto and has also been named the best fulfillment house in
Canada by Jamey Stegmaier, the most influential blogger within the
board game fulfillment sphere. For more information on Snakes &
Lattes Inc. feel free to visit the website at
www.snakesandlattes.com.
2). The EcoPr03 GRO3 Antimicrobial System was jointly developed
between Amfil Tech and A.C.T.S. Inc. which recently rebranded its
technology under Advanced Ozone Integration as an extension of the
existing ozone technology being utilized in the food and beverage
industry and integrated by A.C.T.S. into companies such as Pepsi,
Nestle, Sysco, Sun Pacific and many others. The system is a
triple-function sanitization unit capable of naturally eliminating
99.9% of water and airborne pathogens and the typically problematic
pests that wreak havoc for cultivators (like aphids, whiteflies and
spider mites), as well as bacteria, fungus, microbes and mold on
surfaces, all without chemicals. The unit can also constantly
regulate a given facility's water supply, oxygenating the water and
maintaining a consistent PPM infusion of ozone that prevents the
formation of algae, bacteria or mold (allowing for comprehensive
water recycling), simultaneously removing the need to use
pesticides and/or dangerous, often carcinogenic products to treat
production problems, as is common throughout the industry today.
This environmentally-friendly solution also eliminates odors, while
slightly reducing the air temperature, lowering energy consumption
by the HEPA filtration and HVAC systems and could potentially allow
for a facilities process to be labeled certified organic in the
U.S.A. when the crop is no longer considered illegal on the federal
level, otherwise "Clean Green" or "Certified Kind" in the meantime.
The EcoPr03 GRO3 Antimicrobial System recently passed product
review by a registered USDA certifying agent for use in California
as well as Pennsylvania and surrounding states. More information on
this product line can be found on the www.gro3systems.com website or
on twitter @GRO3Systems.
3). Interloc-Kings Inc. is a hardscape construction company
servicing the Greater Toronto Area. This subsidiary is an
authorized Unilock installer, Unilock being, North America's
premier manufacturer of concrete interlocking paving stones and
segmental wall products. Interloc-Kings Inc. has an A+ Rating with
the Better Business Bureau (BBB) and a 10/10 rating on
homestars.com. Specializing in stone and wood installations between
$5,000 and $150,000 per project, Interloc-Kings Inc. has quickly
become a top, high quality installation company of outdoor living
areas in the GTA. More information on this subsidiary can be found
at the website www.interloc-kings.com.
Safe Harbor Statement
This news release contains statements that involve expectations,
plans or intentions (such as those relating to future business or
financial results, new features or services, or management
strategies) and other factors discussed from time to time in the
Company's OTC Market or Securities and Exchange Commission filings.
These statements are forward-looking and are subject to risks and
uncertainties, so actual results may vary materially. You can
identify these forward-looking statements by words such as "may,"
"should," "expect," "anticipate," "believe," "estimate,"
"confident," "intend," "plan" and other similar expressions. Our
actual results, such as the Company's ability to finance, complete
and consolidate acquisition of IP, assets and operating companies,
could differ materially from those anticipated in these
forward-looking statements as a result of certain factors not
within the control of the company such as a result of various
factors, including future economic, competitive, regulatory, and
market conditions. The company cautions readers not to place undue
reliance on any such forward-looking statements, which speak only
as of the date made. The company disclaims any obligation
subsequently to revise any forward-looking statements to reflect
events or circumstances after the date of such statements or to
reflect the occurrence of anticipated or unanticipated events.
CONTACT INFORMATION
CONTACT:
Roger Mortimer
Amfil Technologies Inc.
Telephone: (647) 880-5887
Email: ir@amfiltech.com
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