Business
Amfil Technologies Inc. Announces Shareholder Dividend From Subsidiary Spin-Off
Amfil Technologies Inc. Announces Shareholder Dividend From Subsidiary Spin-Off.
About this update from Amfil Technologies Inc.
[{"type":"text","content":"\n \n \n Amfil Technologies Inc. Announces Shareholder Dividend From Subsidiary Spin-Off\n \n \nAmfil Technologies Inc. Announces Shareholder Dividend From Subsidiary Spin-Off\n \n TORONTO, ON--(Marketwired - Jun 21, 2017) - Amfil Technologies Inc. (OTC PINK: AMFE) is pleased to announce that it has decided to spin-off the Interloc-Kings Inc. subsidiary into a new public entity, leaving Snakes & Lattes Inc. and GROzone as subsidiaries of Amfil Technologies Inc. (AMFE). In conjunction with the spin-off, shareholders will be awarded with a one-time share dividend in the newly formed entity based upon their holdings of Amfil Technologies Inc. \n Overview:\n \n \n Interloc-Kings Inc. will spin-off into a new public entity\n \nSnakes & Lattes Inc. and GROzone will remain as subsidiaries of Amfil Technologies Inc. (AMFE)\n \nShareholders of Amfil Technologies Inc. will retain all holdings in Amfil and in addition will be awarded shares in the newly formed entity.\n \nManagement is in the process of reviewing an acquisition for the new entity which would significantly increase shareholder value.\n \nFurther details relating to plans for the new entity will be released as they develop.\n \n \n The spin-off will occur upon completion of the previously announced company audit, form-10 re-registration to become fully SEC reporting, and up-list submission once our fiscal year-end June 30th 2017 is completed. Management will determine a record date, all shareholders of Amfil Technologies Inc. (AMFE) on the record date will then be awarded a pro-rata share dividend of the new entity which will house Interloc-Kings Inc., the amount of which will be based upon their holdings in AMFE. Amfil's management feels that the spin-off of Interloc-Kings Inc. is the perfect opportunity to provide a well deserved bonus to our loyal shareholders, with potential for significant growth moving forward for their holdings in both entities. \n The new public entity will execute the same proven business strategy which has been successfully implemented by the Amfil Technologies Inc. management team. Management is currently reviewing the viability of an acquisition with revenue growth potential that could parallel that of the Snakes & Lattes Inc. acquisition completed by Amfil Technologies Inc. in September 2016. \n Further details relating to the spin-o...