Nov 27, 2017, 07:00 ET
TORONTO, Nov. 27, 2017 /CNW/ - SPOT COFFEE (CANADA) LTD. (TSX-V: SPP) ("SPoT" or the "Company") is pleased to report that, effective November 23, 2017, the Company has changed its auditor from Kreston GTA LLP to Collins Barrow Toronto LLP. SPoT's audit committee and board of directors have approved the change.
"This year, SPoT has been growing at a noticeable rate. We will complete the year with a total of 27 corporate owned, licensed and franchised SPoT cafes and Express locations in the states of New York and Connecticut. We anticipate further accelerated growth of SPoT franchise sales throughout the states of New York, Connecticut and Massachusetts in 2018, as well as reaching our expected target of 50 locations by the end of 2019," commented John Lorenzo, the Company's Chairman of the Board. "Our management team is now working on upgrading its operational infrastructure to meet the challenges of this projected growth. We are confident that our new auditor will serve our development and growth as an emerging publicly traded company well with the depth of their in-house skills and services."
SPoT would like to thank Kreston GTA LLP for their professional contribution during their term of engagement as auditor of the Company.
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: Anton Ayoub, CEO & President, (416) 368-2220 Ext 228, [email protected]
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