TORONTO, Jan. 12, 2018 /CNW/ - SPOT COFFEE
(CANADA) LTD. (TSX-V: SPP) ("Spot"
or the "Company") is pleased to announce that its first
drive-thru, located at Spot Transit Café in Clarence, NY, opened for business on
December 28, 2017. The drive-thru is
proving to be a successful initiative, with daily revenue steadily
increasing since its opening. As a result, the Company now
conservatively anticipates an increase in Spot Transit's annual
revenue of US $250,000.
Spot is also pleased to report that its new franchise café in
West Hartford, Connecticut, will
be open for business in March of this year. Construction has begun
on the location, and Spot is presently training the new management
team from the café's franchisee, Parisco Cafés LLC. The Company's
other new franchise cafés, Spot Roswell Park and Spot Amherst, both
of which are located in New York
State, will open in March and April of this year,
respectively. The addition of these three new Full Café and Express
locations to Spot's growing franchise operations is anticipated to
add a combined approximately US $300,000 to the Company's bottom line.
Furthermore, in keeping with its policy of maintaining a high
standard of ambience, cleanliness and functionality, the Company
has been making key renovations to its Spot Rochester and Spot
Delaware cafés. Spot is pleased to report that the landlords of
these corporate-owned cafés are sharing the cost of these
renovations.
In February, the Company will be reporting on other franchise
openings in Q2 and Q3.
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.