TORONTO, July 18, 2017 /CNW/ - SPOT COFFEE (CANADA) LTD. (TSX-V: SPP) ("SPoT" or the "Company") is pleased to announce the official opening of its new Express cafe in Waterfront Village, Buffalo, on Wednesday, July 26, 2017. The official opening will be preceded by a soft opening a day earlier. The franchisee in this instance, Cedarland Foods LLC ("Cedarland Foods"), and SPoT Coffee, are very pleased with the design and high quality of the new SPoT Express and are looking forward for the commencement of its operation next week. The SPoT Express cafe in Waterfront Village is located at 50 Lakefront Blvd., Buffalo, N.Y.
The principals of Cederland Foods are Dr. Fadi Dagher, president, and his son, Kevin Dagher, vice-president. Dr. Dagher is a transplant surgeon and also the principal of Cedarland Development Group, a multifaceted real estate company founded in Buffalo, N.Y., in 2015. For more information on Waterfront Village, please refer to our news release of April 18, 2017.
The Company wishes to provide hereunder an update of its corporate and franchise operations:
- The Company now owns and operates six (6) SPoT Cafes in Buffalo, Rochester, Saratoga Springs and Glens Falls, N.Y.;
- The Company has now five (5) operating SPoT Cafes under franchise agreements in Williamsville, North Buffalo, Orchard Park, Hamburg and Kenmore, N.Y.;
- The Company has now a total of five (5) SPoT Express Cafes operating under license agreements in Buffalo, N.Y.;
- SPoT Coffee now has one (1) operating SPoT Express Cafe under franchise agreement in Waterfront Village, Buffalo, N.Y.
- SPoT Coffee has entered into a multi-unit franchise agreement with Parisco Cafes, LLC to develop and operate five (5) SPoT Full Cafes in the West Hartford, Connecticut and Saratoga Springs, N.Y. corridor starting with the first cafe now under development in Blue Back Square, West Hartford, Connecticut;
- The Company has entered into a deposit franchise agreement with one franchisee to develop a SPoT Full Cafe in the town of Amherst, N.Y.; and
- The Company has entered into deposit and franchise agreements to develop two (2) SPoT Express Cafes in Buffalo, N.Y.
Accordingly, this year, the Company will have a total of twenty-five (25) mix of corporate-owned, licensed and franchise Full and Express cafes in New York State and Connecticut.
About SPoT Coffee
SPoT Coffee trades on the TSX Venture Exchange under the symbol SPP. SPoT designs, builds, operates and franchises community oriented cafés and express cafés in New York State. SPoT's community cafés provide its customers with the highest quality service, signature made-to-order meals and award-winning micro-roasted coffee. Each SPoT café is distinctively designed to suit its local neighbourhood, creating a warm and friendly gathering place for the community. SPoT's commercial business focuses on the sale of roasted coffee beans to food service and grocery chains, business offices and third party resellers such as universities and hospitals.
Forward Looking Statements
Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. In particular, forward-looking information in this press release includes, but is not limited to, the potential use of proceeds of the financing that is the subject of this release. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
SOURCE Spot Coffee (Canada) Ltd.
For further information: Please Contact: Anton Ayoub, CEO & President, (416) 368-2220 Ext 228, [email protected]