TORONTO, June 8, 2018 /CNW/ - SPOT COFFEE
(CANADA) LTD. (TSX-V: SPP) ("SPoT"
or the "Company") would like to extend its thanks to Mrs.
Ying Chen, Spot's outgoing CFO, for
her work with the Company over the last few years. During Ms.
Chen's employment with the Company, it grew to 24 locations. The
entire Spot family wishes her the best as she prepares to welcome a
new child into her life.
Spot would also like to report that Mrs. Colleen Hobson, CPA, has re-joined the Company
and is once again assuming the role of Chief Financial Officer.
Mrs. Hobson has always been an important part of Spot Coffee's team
since its early years as a public company, and her return is warmly
welcomed by Spot's management team. Mrs. Hobson is very familiar
with SPoT's progress and developing business plan, as she has
maintained the important role of a consultant to the Company's
chairman and directors. Mrs. Hobson's extensive experience working
with both public and private companies, and her deep knowledge of
streamlined accounting and reporting systems, will be crucial in
the preparation of the Company's business and financial plan for
its projected expansion to 50 locations by the end of 2020.
"Since 2001, I have been working closely with Colleen in many
ways; as an auditor, financial consultant and Chief Financial
Officer," said John Lorenzo,
Executive Chairman of Spot Coffee, "Under my direction, and with
the full support of our management team, Colleen has already begun
working on a thorough financial analysis aimed at the intelligent
reduction of costs through automation and selective outsourcing
where applicable. Our top priorities are to maintain quality and
improve our systems in preparation for further growth."
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.