Business
Amfil Technologies Inc. (FUNN), Primary Subsidiary, Snakes & Lattes Inc, Outlines Business Objectives and Growth Strategy As It Prepares For The Back to School Rush And Holiday Season Shopping
Amfil Technologies Inc. (FUNN), Primary Subsidiary, Snakes & Lattes Inc, Outlines Business Objectives and Growth Strategy As It Prepares For The Back to School Rush And Holiday Season Shopping.
About this update from Amfil Technologies Inc.
[{"type":"text","content":"Amfil Technologies Inc., (OTC: FUNN), through its primary subsidiary, Snakes & Lattes Inc., is pleased to provide shareholders with a general business update which includes areas of focus, the deployment of assets, updates on its brick and mortar retail location expansion efforts, and projected opening dates for new venues.Focus on Hospitality and Retail:Management has opted to outsource the majority of its Fulfilment, Distribution, and Logistics activities, and will utilize the extra bandwidth to focus on expanding its Hospitality and Retail operations. The Company will increase focus on growing the number of Snakes & Lattes venues and capitalizing on its brand awareness and retail which offer multiple synergies with its brick and mortar and online operations.Opening New Venues + Other Growth Opportunities:The Company has secured an agreement with a shareholder to expand number of operational Snakes & Lattes cafes throughout the USA. The objective of this agreement is to identify 10 suitable locations for new venues. This shareholder will have an active role in negotiating lease agreements, obtain funding, plan and manage construction, and deliver a “ready to operate” venue.COVID-19 has left some companies in the board game and hospitality business in a precarious financial position. Management is currently evaluating a number of opportunities to take-over / absorb some of the Company’s competitors and has already been approached by numerous companies in the US, Canada, and the UK.Snakes & Lattes is in advanced discussions with two more existing board game cafes in Canada, a boardgame café company in the UK, and is expecting to close on the previously mentioned ,very unique, café/entertainment facility in a major US city. This location will be the largest, unique, and extravagant facility under the Snakes & Lattes umbrella to date. It is expected that this deal will close and be announced as early as next week.These new locations are in addition to the new locations which are under construction in Guelph, Ontario, and in Tucson, Arizona. Construction has been progressing well and it is expected that both locations will be open in early October 2020, just in time for back to school season for the local college and university students in each city.Retail and Online Marketplace Partnerships:The Company recently...