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 announced its deal with Loblaws to curate the board games selection for its new online marketplace project. Snakes & Lattes has been working diligently to meet the initial objectives and preparing for the second buying round before Nov 1st, 2020, which will result in 300 SKUs being offered on the new marketplace.
The Company will also be looking to reinforce its presence on the Walmart and Amazon online marketplaces.
“We are very excited about the Company’s growth strategy for the remainder of 2020” stated Ben Castanie, CEO and Founder of Snakes & Lattes. “We have a number of new opportunities to really grow the business in a number of areas, particularly in the online board game sales and overall retail footprint. We are fully committed to getting the new venues open and the online seller accounts fully operational. Once these initial targets are met, we expect to see a significant increase in revenues and in shareholder value. Despite some pandemic related setbacks initially, the stars have really aligned for us and created some pretty significant opportunities to expand the business moving forward. I think the best has yet to come”
Snakes and Lattes 10th Anniversary!
This Sunday, being Sunday August 30th Snakes & Lattes will be kicking off a week long celebration which will include prizes, giveaways and lots of various in store promotions and events. The Company wants to reward all our wonderful guests and the Company will share some pictures and testimonies throughout the week to enjoy. While we can’t all be in the same place with our shareholders this Sunday, cheers and have a toast with us and to another great next ten years!
Further updates from the Company can be expected in the coming week.
About Snakes & Lattes
For further updates from the Snakes & Lattes and its parent company, Amfil Technologies Inc please follow us on Twitter @AmfilTech
For more information regarding the company, and its related subsidiaries please visit the following websites:
Amfil Technologies Inc. www.amfiltech.com/
Snakes & Lattes Inc. www.snakesandlattes.com/
Morning (Snakes & Lattes Publishing SAS) https://www.morning.us/
GRO3 Joint Venture http://gro3systems.com/
Interloc-Kings Inc. http://www.interloc-kings.com/
About Us:
Amfil Technologies Inc. is the parent company to three wholly owned subsidiaries.
1). Snakes & Lagers Inc. holds the trade name and is the owner of Snakes & Lattes Inc. which currently operates 3 tabletop gaming bars and cafes located in Toronto, Ontario and 1 in Tempe, Arizona. The company is in the process of expanding throughout North America. Snakes & Lattes Inc. was the first board game bar and cafe in North America, is believed to be the largest in the world and has the largest circulating public library of board games in North America for customers to choose from. Snakes & Lattes Inc. currently has a 100+ member staff and recently acquired the exclusive distribution rights throughout Canada for some of the most popular board games in the world. The company also operates a lucrative fulfillment and distribution division and has recently entered into the board game publishing business through the acquisition of Morning which is expected to add significant revenues to the bottom line. For more information on Snakes & Lattes Inc. feel free to visit the website at www.snakesandlattes.com.
2). The EcoPr03 GRO3 Antimicrobial System was jointly developed between Amfil Tech and A.C.T.S. Inc. which recently rebranded its technology under Advanced Ozone Integration as an extension of the existing ozone technology being utilized in the food and beverage industry and integrated by A.C.T.S. into companies such as Pepsi, Nestle, Sysco, Sun Pacific and many others. The system is a triple-function sanitization unit capable of naturally eliminating 99.9% of water and airborne pathogens and the typically problematic pests that wreak havoc for cultivators (like aphids, whiteflies and spider mites), as well as bacteria, fungus, microbes and mold on surfaces, all without chemicals. The unit can also constantly regulate a given facility's water supply, oxygenating the water and maintaining a consistent PPM infusion of ozone that prevents the formation of algae, bacteria or mold (allowing for comprehensive water recycling), simultaneously removing the need to use pesticides and/or dangerous, often carcinogenic products to treat production problems, as is common throughout the industry today. This environmentally-friendly solution also eliminates odors, while slightly reducing the air temperature, lowering energy consumption by the HEPA filtration and HVAC systems and could potentially allow for a facilities process to be labeled certified organic in the U.S.A. when the crop is no longer considered illegal on the federal level, otherwise "Clean Green" or "Certified Kind" in the meantime. The EcoPr03 GRO3 Antimicrobial System recently passed product review by a registered USDA certifying agent for use in California as well as Pennsylvania and surrounding states. The subsidiary has developed a strategic partnership with Roto Gro, the creator of proprietary rotary hydroponic technology. More information on this product line can be found on the www.gro3systems.com website or on twitter @GRO3Systems.
3). Interloc-Kings Inc. is a hardscape construction company servicing the Greater Toronto Area. This subsidiary is an authorized Unilock installer. Unilock is North America's premier manufacturer of concrete interlocking paving stones and segmental wall products. Interloc-Kings Inc. has an A+ Rating with the Better Business Bureau (BBB) and a 10/10 rating on homestars.com. Specializing in stone and wood installations between $5,000 and $150,000 per project, Interloc-Kings Inc. has quickly become a top, high quality installation company of outdoor living areas in the GTA. More information on this subsidiary can be found at the website www.interloc-kings.com.
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's OTC Market or Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should,", "will", "expect," "anticipate," "believe," "estimate," "confident," "intend," "plan" and other similar expressions. Our actual results, such as the Company's ability to finance, complete and consolidate acquisition of IP, assets and operating companies, could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company such as a result of various factors, including future economic, competitive, regulatory, and market conditions. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact:
Roger Mortimer
Amfil Technologies Inc.
Telephone: (647) 880-5887
Email: rmortimer@amfiltech.com
Or
Ben Castanie
Snakes & Lattes Inc.
Telephone: (416) 500 2911
Email: ben@snakesandlattes.com