TORONTO, Oct. 2, 2017 /CNW/ - SPOT COFFEE (CANADA) LTD. (TSX-V: SPP) ("SPoT" or the
"Company") is pleased to report the following:
NEW DRIVE-THRU FOR SPOT TRANSIT ROAD
The new drive-thru addition to the SPoT Transit Road cafe
presently under construction will be completed and operational the
week of November 6, 2017. This new
drive-thru will provide a much needed "on the go" service solution
that leverages the high number of SPoT Transit motorist customers
in the cafe's busy commercial neighbourhood.
NEW SPOT COFFEE ROSWELL PARK FRANCHISE
After submitting its proposal for the development of a new
franchise café in Roswell Park Cancer Institute ("RPCI") of
Buffalo, the Company was invited
by RPCI to negotiate and finalize a licensing agreement. SPoT
has already signed an agreement with a qualified franchisee to
operate the new SPoT Roswell Park café. The Company anticipates
completion of the franchise location and commencement of its
operation prior to this year's end.
RPCI is a cancer research and treatment center in Buffalo, New York, founded in 1898. It
was the first dedicated medical facility for cancer treatment and
research in the United States, and is the only facility
in Upstate New York to hold the National Cancer
Institute designation of "comprehensive cancer center." The
Institute, which conducts clinical research on cancer as well as
developing new drugs, provides advanced treatment for all forms of
adult and pediatric cancer. The RPCI campus, which is spread out in
15 separate buildings, occupies 28 acres of the
100-acre Buffalo Niagara Medical Campus (BNMC) in
downtown Buffalo, and includes
1,500,000 square feet of space equally distributed
between clinical programs and research/education
functions.
NEW SPOT COFFEE AMHERST
FRANCHISE
The Company has identified and negotiated a lease for a 2,600
square foot space at 4610 Main Street in Amherst, New York. This strategic location is
presently being prepared by the landlord in anticipation of its
construction and full development by SPoT into a new SPoT franchise
café namely, SPoT Coffee Amherst. The Company is presently
finalizing its franchise agreement with the approved franchisee and
will be providing progress reports in forthcoming news
releases.
The town of Amherst encompasses
most of the village of Williamsville as well as the
hamlets
of Eggertsville, Getzville, Snyder, Swormville,
and East Amherst. Amherst is
home to the north campus of the University of Buffalo, the graduate campus of Medaille
College, a satellite campus of Bryant & Stratton College, and Daemen College. As of
the census of 2010, there were 122,366 people residing in the
town.
NEW SPOT COFFEE WEST HARTFORD,
CONNECTICUT FRANCHISE
The Company confirms completion by its architects of the working
drawings, as well as receipt of the premises from the landlord,
needed to start the construction of another new 3,000 square foot
franchise café in the prestigious Blue Back Square development in
West Hartford, CT. For more
information about this new franchise SPoT café and the franchisee,
Parisco Cafés, LLC, please refer to our news release of
June 1, 2017. The Company expects to
complete the construction of SPoT Coffee West Hartford café by the
end of this year.
LEASE RENEWAL AND RENOVATIONS OF SPOT COFFEE ROCHESTER
The Company has successfully negotiated with the landlord of
SPoT Coffee Rochester a renewal of its lease until the year 2022.
SPoT will renovating its café while the andlord has committed to
make other substaintial renovations to the façade of the building,
as well as to install new flooring.
ONGOING EXPANSION OF THE COMPANY'S FRANCHISE PROGRAM
Based on the growing popularity and consistent increase in sales
of SPoT Rochester café, the Company has now focused its attention
on conducting an intensive demographic and real estate analysis of
the Rochester Metropolitan Area in
order for it to meet a rising demand for new franchise locations in
and around Rochester, including
Fairfield, Victor, Webster and many other Monroe County communities where SPoT enjoys
significant brand recognition and strength. Accordingly, the
Company has now begun examining all possible avenues of further
franchise expansion across the southern shore of Lake Ontario.
Furthermore, the Company is now negotiating with a serious
prospective franchisee for a new full SPoT café in and around the
southwest part of Orange County of
New York, which lies approximately
50 miles north of the city of New
York. Orange County
contains three villages and eight hamlets which are the home of the
annual Applefest, the Summer Arts Festival, the Black Dirt Feast,
The Hudson Valley Jazz Festival and many other unique events and
festivals. The Company will be issuing a news release concerning
this new franchise once the franchise agreement is finalized and
ratified and a café location has been chosen.
About SPoT Coffee
SPoT Coffee trades on the TSX Venture Exchange under the symbol
SPP. SPoT designs, builds, operates and franchises community
oriented cafés and express cafés in New
York State. SPoT's community cafés provide its customers
with the highest quality service, signature made-to-order meals and
award-winning micro-roasted coffee. Each SPoT café is distinctively
designed to suit its local neighbourhood, creating a warm and
friendly gathering place for the community. SPoT's commercial
business focuses on the sale of roasted coffee beans to food
service and grocery chains, business offices and third party
resellers such as universities and hospitals.
Forward Looking Statements
Except for statements of historical fact relating to the
Company, certain information contained herein constitutes
forward-looking statements. In particular, forward-looking
information in this press release includes, but is not limited to,
the potential use of proceeds of the financing that is the subject
of this release. Although we believe that the expectations
reflected in the forward-looking information are reasonable, there
can be no assurance that such expectations will prove to be
correct. We cannot guarantee future results, performance or
achievements. Consequently, there is no representation that the
actual results achieved will be the same, in whole or in part, as
those set out in the forward-looking information.
Forward-looking statements are based on the opinions and
estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
The forward-looking information contained in this news release is
expressly qualified by this cautionary statement. Except as
required by applicable securities laws, the Company undertakes no
obligation to update forward-looking statements if circumstances or
management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on forward-looking
statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of the release.
SOURCE Spot Coffee (Canada)
Ltd.