Business
Snakes & Lattes Inc. (OTC: FUNN) Releases Interim Shareholder Update on Positive Sales Trends, Extension of Support for Restaurants in Canada
Snakes & Lattes Inc. (OTC: FUNN) Releases Interim Shareholder Update on Positive Sales Trends, Extension of Support for Restaurants in Canada.
About this update from Amfil Technologies Inc.
[{"type":"text","content":"\n Chicago, IL, Nov. 04, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Hello from Chicago, we are excited to share some good news on the state of our business.  Heading into the holiday season, we are encouraged by many positive developments for Snakes & Lattes, and we wanted to update our shareholders on our progress between our regularly scheduled quarterly communication.  First up, we are seeing conditions improve in our markets most impacted by Covid restrictions (Toronto and Chicago).  Leadership in Toronto has released updates to “A plan to reopen Ontario and manage Covid-19 for the long-term”, which can be found in the Reopening Ontario section at https://covid-19.ontario.ca.  Highlights include a relaxing of occupancy restrictions effective immediately and a roadmap to remove all restrictions by March 2022.  We are grateful for the clarity and will continue to be vigilant and careful while welcoming the ever-increasing number of guests to our Toronto and Guelph locations.   Speaking of Guelph, the opening was a great success, and we are pleased to announce our Grand Opening celebration this coming Friday.  Year over year numbers are, as would be expected, showing gigantic improvements, but more importantly, we are seeing growth week over week in each of our Ontario locations heading into our busy holiday season.  We’ve secured financing for an increase in retail game inventory so we can get ahead of any supply chain disruptions and capitalize on demand for shopping locally and make sure we have the most popular games available for gifting, even as other retailers struggle to keep their shelves stocked.  In addition to the clarity provided by Ontario’s roadmap, the Canadian government is extending the support provided to restaurants and entertainment venues with wage and rent subsidies for businesses like ours which have been severely impacted by Covid and the resulting restrictions.  We are also eligible for a new grant program which provides support for interior and exterior capital improvements for businesses in Toronto, as well as design fees.  Chicago has seen the test positivity rate remaining steady below 2%, paving the way for a relaxing of restrictions and increased demand.  We are getting a great deal of interest in our p...