TORONTO, ON, CANADA -- December 31, 2018 -- InvestorsHub NewsWire
-- Amfil Technologies Inc. (OTC: AMFE) is pleased to provide
shareholders with an overview of the many accomplishments as well
as a summary of growth initiatives executed throughout 2018. These
initiatives further bolstered the Company’s foundation in
preparation for continued full scale growth and expansion
throughout 2019 and beyond.
The Company continues to successfully execute on its expansion
strategy. The company has recorded exceptional growth through its
primary subsidiary, Snakes & Lattes Inc. This subsidiary
experienced rapid expansion through its distribution &
fulfillment, game publishing, and retail divisions. In addition,
during 2018 the Snakes & Lattes subsidiary successfully
launched its first US-based board game bar/café location in Tempe,
Arizona. This marked the official penetration into the largest
market in the world and was the first of many planned locations to
come.
Additionally, in 2018 the newly formed Snakes & Lattes US
Expansion Team explored numerous additional locations, across
multiple cities and states. The company solidified commitments for
6 additional new locations. Furthermore, there are a total of 23
additional potential locations in various stages of the overall
opening process. The Company is pleased to report that the Snakes
& Lattes Inc. subsidiary has effectively doubled its market
share and physical brick and mortar locations throughout 2018. This
has laid the ground work to exponentially increase its footprint
into 2019 and beyond.
Further, the Company completed an all cash acquisition of the
France-based publishing company, Morning Games, as well as the
rights to highly anticipated game titles such as Kill the Unicorns,
BUURN, Red Panda, and IKAN. All of these titles were debuted over
the summer at the largest board game convention in the world, Essen
Spiel, and are expected to hit store shelves throughout 2019. The
company anticipates the first print-runs to be shipped in calendar
Q1 2019.
2018 Snakes & Lattes Achievements:
- Snakes & Lattes ‘Midtown’ location goes fully operational,
including liquor license (March).
- Snakes & Lattes Tempe, Arizona location goes fully
operational (September).
- Commitments received for Snakes & Lattes locations for
Charlotte, Fort Collins, Houston, Denver, and two others yet to be
announced which are expected to progress in 2019.
- Interested parties have led to an additional 23 locations
throughout the United States at various stages of discussion.
- All-Cash acquisition of Morning Games.
- Enhanced working relationship with board game manufacturer
Panda Games in Shenzhen, China.
- Prototypes of self-published titles through Morning; Kill the
Unicorns, Red Panda, and Ikan were created, entered manufacturing
stage, and orders received for big box retailers such as Wal-Mart
with expected delivery date early 2019.
- Between Nov 1 2017 and Feb 28 2018, the distribution division
grew from 20 retailers and 5 SKUs to 170 retailers and 35
SKUs.
- The Company provided a list of what has now grown to 60+
publishers and suppliers representing 580+ SKUs that were sold
through October and November alone.
- Completed over 40 fulfillment campaigns for Kickstarter.
- Expanded warehouse space to cater to rapidly expanding
distribution business.
- Awarded exclusive distribution rights in Canada for Hub Games,
the makers of: ‘Rory’s Story Cubes’, ‘Untold’, and ‘Blank’. Also
awarded all future developed game titles.
- Acquired exclusive Canadian Distribution rights to the game
‘Build Up’.
- Awarded exclusive distribution rights to The Awkward Yeti's
game ‘OrganATTACK!’ in Canada.
- Awarded Galactic Sneeze's lineup of ‘Spank The Yeti’ and
‘Schmovie’, including the “Not Parent Approved” version.
- Awarded distribution rights in Canada to ‘Bananagrams’,
‘Fluff’, and ‘Skrawl’ focusing on the hobby market and to help the
brand grow amongst retailers and toy stores.
GRO3
Throughout 2018, the GRO3 Team has made significant strides
toward penetrating the Cannabis Industry with their EcoPr03
Antimicrobial Technology, and its efforts have begun to bear fruit.
The GRO3 Team successfully secured an exclusive agreement with
Cannabis-Infused beverage maker, Kalvara, for an estimated 8
EcoPrO3 Antimicrobial Systems.
Additionally, GRO3 has 8 additional deals/contracts progressing
behind the scenes across multiple sectors of the cannabis market
including cultivation, extraction, and infusion. Further details
about these upcoming deals can be expected as we move into 2019,
and we continue to receive inquiries from the industry.
GRO3 continues to work with an Ontario cultivation facility on
the build out of their operation and will be outfitting the
facility with GRO3 EcoPrO3 units which will provide an organic,
environmentally friendly alternative to harsh pesticides and
chemicals. This project has taken longer than expected due to
unforeseeable personal circumstances with the facility’s management
but is expected to continue throughout 2019 while the company
awaits the greenlight to outfit the facility.
Corporate Initiatives and Accomplishments
As the Company’s shareholders are undoubtedly aware, the company
undertook the process of auditing the most recent three years of
financial statements and submitted for up-listing to the OTCQB in
2017. The process has taken longer than expected, but the Company’s
auditors successfully completed and signed off on the 2016-2017
audit of the company’s financial statements which were submitted in
September 2018. The Fiscal 2018 audit is expected to be completed
in early calendar 2019, bringing the company up do date with
audited reporting obligations and will allow the company to
complete the up-list to the OTCQB Venture exchange.
A Final Word From Management
The company remains on an upward trajectory in terms of
revenues, growth, and expansion which management expects to
continue into the foreseeable future. The company continues its
aggressive approach to the mass expansion of all related
subsidiaries and business divisions, and total commitment to
increasing shareholder value with year over year growth. A number
of new and exciting developments will be released in the coming
weeks as we enter into calendar 2019 which is expected to be the
largest year in company history. With each of the past two years
setting new company records in terms of year over year growth and
revenues and the expectation of 2019 yet again setting a new
record, the company is currently on a path to success.
The company remains steadfast in its commitment to deliver the
maximum value back to our shareholders as we continue to accelerate
into the new year. Significant increases in revenue contributions
from all subsidiaries are expected throughout 2019, as the company
continues to expand its operational focus and extend its reach into
new industry sectors and geographical markets. While the market
itself did not provide or reflect the same growth as the underlying
business achieved in 2018 in a similar way to 2017, it is felt that
the longer than originally anticipated timeline for audit
completion and up-list was a large factor in that outcome. Once the
company gets past this final step in the up-list process, being the
2018 audit which is expected very early 2019, the company feels the
markets reflection of the company should also change.
The company continues to rapidly expand on multiple fronts with
key growth-related accomplishments being achieved on a regular
basis. This time just a short year ago the Snakes & Lattes Inc.
operations consisted of just the Annex and College locations in
Toronto, ON.
Over the course of the past year, the company has essentially
doubled in size with ‘Midtown’ now fully online since March and the
first location in the USA, ‘Tempe’ also opening its doors in
October. It has also been mentioned that the company expects two
additional locations to begin construction in early 2019.
This coupled with the recently announced acquisition of Morning
and the expanding exclusivity of game titles has continued the
aggressive expansion of the Snakes & Lattes Inc. subsidiary.
In-house published game titles are expected to begin hitting
shelves in 2019 and so as a direct result of this, the company is
believed to be in the strongest position in its history and is
firmly positioned to continue its growth into the foreseeable
future.
"We are very excited to continue the USA expansion of the Snakes
and Lattes brand," said Ben Castanie, founder and CEO of Snakes and
Lattes. "We will have a large focus throughout 2019 on adding
additional brick and mortar locations throughout the USA as well as
beginning to implement a fulfillment/distribution arm state side
similar to the one we have successfully developed in Canada."
“The Company continues to fire on all cylinders,” states Amfil’s
CEO, Roger Mortimer. “The audit process has unfortunately
overshadowed the monumental successes of Snakes & Lattes, and
the recent breakthroughs and potential of the GRO3 joint venture.
Soon enough, the growing pains which were necessary for the
long-term success of the organization will be completed, and we can
shift the focus back to the massive achievements made on an ongoing
basis. We accomplished a great deal throughout 2018 and the
audit/uplist process will strengthen the company on a corporate
level and provide opportunities which would have been otherwise
impossible. We would like to thank our shareholders for supporting
us throughout this process and will continue to execute our
business objectives to ensure their patience be rewarded. We are
very excited for the new year and intend to continue to capitalize
on opportunities and execute on our business plan to significantly
increase revenues, expand operations, and deliver maximum value
back to our loyal shareholders.”
Stay tuned, as 2019 is expected to be the biggest year on
record!
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 http://gro3systems.com/
For more information on Natural Stuff Inc., please
visit https://www.naturalstuffinc.com/
For more information on Interloc-Kings Inc., please
visit http://www.interloc-kings.com/
About Us:
Amfil Technologies Inc. is the parent company to four wholly
owned subsidiaries.
1). Snakes & Lagers Inc. holds the trade name and is the
owner of Snakes & Lattes Inc. which currently operates 4
tabletop gaming bars and cafes, 3 of which are located in Toronto,
Ontario that brought in over $8M USD in revenue last year and one
recently opened in Tempe, Arizona. The company is in the process of
franchising throughout North America. 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 100+ member staff
and recently acquired the exclusive distribution rights throughout
Canada for some of the most popular board games in the world. The
company also operates a lucrative fulfillment and distribution
division and has recently entered into the board game publishing
business which is expected to add significant revenues to the
bottom line. 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. The subsidiary has
developed a strategic partnership with Roto Gro, the creator of
proprietary rotary hydroponic technology. 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.
4). Natural Stuff Inc. For over 20 years, Natural Stuff Inc. has
been distributing high-quality, value products. Since 1994, the
business and delivery system have been satisfying grocery, chain,
discount department, and convenience store customers. Wholesalers,
vending and catering services are some of our best clients. Natural
Stuff Inc. is always searching for new and exciting snack food
& drink products to boost in-store sales and drive
business.
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,", "will", "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:
Roger Mortimer
Amfil Technologies Inc.
Telephone: (647) 880-5887
Email: rmortimer@amfiltech.com
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