Amfil Technologies Inc. (AMFE) Provides Update on Snakes &
Lattes Inc. Expanding Retail, Distribution, and Publishing
Operations
Toronto, ON -- June 21, 2018 -- InvestorsHub NewsWire -- Amfil
Technologies Inc (OTC Pink: AMFE) is pleased to provide
shareholders and the investment community with multiple
updates/announcements relating to the expanding operations of
Snakes & Lattes Inc., Morning Publishing, and discussion
relating to the company’s ongoing audit process.
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 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 online and the first
location in the USA coming online in approximately 6 weeks. 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. 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 trajectory into the foreseeable future.
The audit process has been a principle concern for the company
and its shareholders, and we have received a number of queries
relating to the projected completion date. This process has taken
longer than expected, and we understand that previously released
timeline updates created expectations of completion dates which
unfortunately were not met. At this juncture, we are expecting the
audit to be signed off on very soon, but we do not have an exact
target date. To be absolutely clear, there is no indication that
there are any issues of concern, and the company has no doubt that
the audit will be completed. The company’s tremendous expansion
over recent years will be verified shortly, at which point we
intend to uplist to the OTCQB Venture Market and will continue to
accelerate forward with our aggressive expansion plan.
Snakes & Lattes U.S. Expansion Team
The recently formed Snakes & Lattes USA Expansion team has
already made significant strides in terms of growing the brand in
the United States. We are currently in negotiations with 23
separate locations for potential Snakes & Lattes
franchises/joint ventures by interested parties. Negotiations at
this point are preliminary as we wait for the audited financial
statements to be completed allowing us to discuss definitive
franchise agreements. Once the audit is completed, we will move to
the next step of negotiations and the U.S. expansion team will
visit each proposed location to further qualify candidates,
locations, and business plans. We will keep shareholders updated on
visits to potential franchise locations thus providing local
investors with the opportunity to meet with the Snakes & Lattes
U.S. Expansion team and discuss potential opportunities. We intend
to open additional corporate-owned U.S. locations shortly after
Tempe is up and running. We are continually working on the overall
U.S. expansion plan with the goal of opening multiple new U.S.
locations over the course of the next 18 months.
The company will expand on this more in the near future.
Tempe Arizona Corporate-Owned Snakes & Lattes
Location
The newest Snakes & Lattes corporate-owned retail location
under development in Tempe, Arizona is progressing as planned. The
company took possession of the property located at 20 W Sixth
Street, which is just off Mill Avenue which is home to the highest
concentration of cafes, restaurants, sports bars, microbreweries,
unique shopping and nightlife than any other place in the area.
The architectural drawings for the location have been finalized
and are now preparing for construction. We anticipate approximately
4-6 weeks of additional work and construction to get the location
ready for opening.
We have hired a General Manager who is a veteran in the
hospitality industry with extensive experience from casual dining
to setting up franchise locations. This person also has significant
work experience heading up a Dave & Busters location.
We have also hired a local game expert to lead the Snakes &
Lattes game-gurus at the Tempe location. This person is a
well-known gamer and meet-up organizer in the Phoenix area. This
candidate is currently in Toronto undergoing training on Snakes
& Lattes culture, processes, and procedures.
The remaining staff member hires will be finalized in the coming
weeks as construction commences, and we approach nearer to
opening.
Resumes for employment at Snakes & Lattes Tempe are now
being accepted at Tempe@snakesandlattes.com
Snakes & Lattes Publishing / Acquisition of
Morning
The all-cash acquisition of the Morning board game publishing
and distribution company was completed at the end of May. The
Morning acquisition was completed for $150,000 Euros and included
all of the company assets minus all debt and/or liabilities as they
were extinguished by the Tribunal in France prior to the
acquisition. Morning has now been fully integrated into Amfil
Technologies Inc. We have created a separate entity in France
called ‘Snakes & Lattes Publishing SAS’ which now owns all of
Morning’s assets including trademarks, websites, and all the game
titles and intellectual property (IP) etc.
The recently created Snakes & Lattes team in France has
finalized 3 board games which are now preparing for
print/production. These game titles include; Kill The Unicorn, Red
Panda, and Ikan. The team is now working to finalize the next new
line of game titles including ‘BUURN’, and another Kickstarter
campaign that is planned for early next year. The company expects
to begin the manufacturing process for these titles before the end
of the month.
Prototypes of Kill The Unicorn and Red Panda are being very well
received at trade shows and conventions, including the 2018 Origins
Game Fair which occurred from June 13-17th in Columbus, Ohio.
Snakes & Lattes Inc. will be the exclusive distributor of
all Morning/Snakes & Lattes Publishing SAS games throughout the
United States and Canada. For the time being, the remaining
worldwide distribution will be taken care of by existing
partnerships acquired with the Morning acquisition but could
potentially change in the future if deemed feasible.
Morning/Snakes & Lattes Publishing SAS will have a presence
this week end at “Paris est Ludique” which is one of the largest
game conventions in France. We expect Morning games to be well
recognized and received, which will further strengthen the brand
recognition and further fuel our growth on the worldwide stage.
Amfil expects that the board game publishing business to be a
significant contributor to revenue growth of the company in the
future and anticipates the sales revenues matching and/or exceeding
the numbers generated from distribution and retail.
Snakes & Lattes
Distribution/Fulfillment
The distribution business continues to thrive and expand.
Distribution sales have begun to increase after the historically
slow Calendar Q1 quarter. Snakes & Lattes Inc. is working with
the creators of Rory’s Story Cubes, BLANK and UNTOLD for the
distribution of the subsequent titles they develop.
We shipped over 10,000 games last month which spread over 20+
unique campaigns as part of our fulfillment business. This was our
best month thus far, and the pipeline remains full and expanding
further into the foreseeable future. The warehouse operation
continues to grow which has resulted in us having to add more staff
members. One of our largest customers has released multiple new
game titles this month, which is expected to translate into a
significant spike in order volumes.
The company is pleased with its expansion and revenue growth
achievements thus-far in 2018. We are poised to maintain forward
momentum as we continue to execute on revenue generating
initiatives through various businesses of our subsidiaries. The U.S
Expansion of Snakes & Lattes, the worldwide publishing
division, and the thriving distribution/fulfillment businesses will
continue to fuel the company’s rapid and consistent growth in the
foreseeable future.
This is a very exciting time for the company. The rate of
expansion continues to accelerate, and the company has been able to
fuel this growth in a sustainable fashion. The commitment remains
on growing the Snakes & Lattes brand into a household name
while delivering maximum value to our shareholders. The audit is
expected to be completed soon, at which point there will be nothing
holding the company back and it is the company’s belief that the
internal success of the business will once again begin to reflect
in the market. The company has experienced immense success in a
very short period of time and everything is in place to continue
propelling the business to higher levels.
A number of exciting initiatives designed to fuel the company’s
growth continue to progress and develop behind the scenes, and
updates can be anticipated more regularly moving forward. Amfil
will continue to unwaveringly execute its business plans and growth
strategy to ensure maximum value back to shareholders. Once again,
we would like to thank our loyal shareholders for supporting us
through this significant period of company growth and through the
unfortunate periods of time where there appears to be a divergence
between the company and the market. We do feel this will change in
the near future and hopefully better reflect the growth and
achievements that have put the company where it is today when
comparing to last year during the same period. Bigger and
better.
Updates relating to Amfil’s other subsidiaries will also be made
moving forward.
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 3
tabletop gaming bars and cafes located in Toronto, Ontario that
brought in over $7M CAD in revenue last year. 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," "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: ir@amfiltech.com
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