Business
Amfil Technologies Inc. Provides Shareholder Update (New Location “Midtown” Opening Tomorrow / Audit Process Update)
Amfil Technologies Inc. Provides Shareholder Update (New Location “Midtown” Opening Tomorrow / Audit Process Update).
About this update from Amfil Technologies Inc.
[{"type":"text","content":"Amfil Technologies Inc. (OTC Pink: AMFE) is pleased to provide our shareholders and the investment community with the following updates. ‘Midtown’ OpeningAfter some unexpected construction delays, Snakes & Lattes ‘Midtown’ will be opening tomorrow Wednesday December 6th 2017. ‘Midtown’ is Snakes & Lattes’ flagship location and is located in the bustling Yonge & Eglinton neighborhood Toronto, known for its thriving social scene. “Midtown” is the 3rd and largest Snakes & Lattes Inc. location to open in Toronto, Ontario standing at 10,000 sq. ft. across three floors and an outdoor patio. We expect a positive acceptance of the new tabletop gaming bar/café to the area by the local community right out the gate. The launch of ‘Midtown’ further strengthens Snakes & Lattes presence and will showcase the Snakes & Lattes brand to potential franchise owners and be the benchmark for future corporate locations which are set for development in the near future.The timing of the ‘Midtown’ opening coincides with the busy holiday season. The location has already gathered substantial attention from the public, which indicates the potential for increased retail holiday sales contributing to our fiscal Q2 quarterly numbers. Snakes & Lattes has signed a 10-year lease on the Midtown property and invested over $1M USD towards the renovations and upgrades. Management expects the location to immediately commence substantial contributions to the company’s bottom line and continue to add significant revenues for many years to come. After the celebration welcoming the new patrons and associated media blitz, the company will immediately commence work on opening the next location. Details on this will be released in the near future. The company is still planning on holding a shareholder appreciation night at ‘Midtown’ however due to the holidays quickly approaching, we have elected to have this event in the New Year to allow more shareholders the opportunity to attend. Looking into the new year, Snakes & Lattes franchising will be a large component of the continued expansion plan throughout 2018. Hamilton, and Waterloo will be kicking off in early 2018, bringing the total location count to five in Ontario and will also be looking at opening the Chicago headquarters in the early half of 2018. Further, we are in discussions with a...