Business
Amfil Technologies Inc. Provides Update On Snakes & Lattes Arizona Project and Discusses Potential Acquisitions
Amfil Technologies Inc. Provides Update On Snakes & Lattes Arizona Project and Discusses Potential Acquisitions.
About this update from Amfil Technologies Inc.
[{"type":"text","content":"\n\n TORONTO, ON, March 05, 2018 (GLOBE NEWSWIRE) -- Amfil Technologies Inc. (OTC Pink: AMFE) is pleased to provide an update on recent Snakes & Lattes Inc developments relating to its expansion plan into the United States, franchising, and potential acquisitions in the publishing and distribution space.\n Brick & Mortar Locations: Snakes & Lattes Inc. has received back a signed LOI from the landlord of a key property in Tempe, Arizona. This brings Snakes & Lattes Inc. one step closer to breaking into the US market. Ben Castanie, President of the Snakes & Lattes Inc. subsidiary, will be flying down to meet with the landlord this coming Thursday, March 8, 2018 with intent to finalize the lease. We are optimistic on the deal closing, and if so, focus will immediately shift to bringing the first Arizona location online which has already been fully funded for the complete build-out. An architectural design firm has been selected and construction will begin on this location as soon as the drawings and design layout have been completed with a targeted opening date of late Summer 2018. The selection process for the initial Game Guru’s, managers, and general staff has already commenced with a number of promising candidates expressing their interest to join the team once the operations are further solidified. The original plan was to sell a master franchise to begin the regional foothold, however Snakes & Lattes Inc. management has instead opted to enter an agreement with a local investor who will fund this as a Corporate Owned location which will also act as a franchising, training, and distribution hub for the Southwestern region of the United States. This will provide the company, with an ongoing relationship with this same person, allow for additional location targets in the region to be captured with enhanced oversight on the operations of the future franchises in the area and give us greater ability to provide support and training. The corporate owned location will also oversee the distribution business in the Southwestern region. Tempe, AZ is well-positioned as a key market in the Southwestern United States, boasting high density of key demographics and high-volume foot traffic areas. Tempe is home to Arizona State University (ASU), a campus with 72,000 annual enrollees as of 2016, and Rio Salado Coll...