TORONTO, Oct. 2, 2017 /CNW/ - SPOT COFFEE (CANADA) LTD. (TSX-V: SPP) ("SPoT" or the "Company") is pleased to report the following:
NEW DRIVE-THRU FOR SPOT TRANSIT ROAD
The new drive-thru addition to the SPoT Transit Road cafe presently under construction will be completed and operational the week of November 6, 2017. This new drive-thru will provide a much needed "on the go" service solution that leverages the high number of SPoT Transit motorist customers in the cafe's busy commercial neighbourhood.
NEW SPOT COFFEE ROSWELL PARK FRANCHISE
After submitting its proposal for the development of a new franchise café in Roswell Park Cancer Institute ("RPCI") of Buffalo, the Company was invited by RPCI to negotiate and finalize a licensing agreement. SPoT has already signed an agreement with a qualified franchisee to operate the new SPoT Roswell Park café. The Company anticipates completion of the franchise location and commencement of its operation prior to this year's end.
RPCI is a cancer research and treatment center in Buffalo, New York, founded in 1898. It was the first dedicated medical facility for cancer treatment and research in the United States, and is the only facility in Upstate New York to hold the National Cancer Institute designation of "comprehensive cancer center." The Institute, which conducts clinical research on cancer as well as developing new drugs, provides advanced treatment for all forms of adult and pediatric cancer. The RPCI campus, which is spread out in 15 separate buildings, occupies 28 acres of the 100-acre Buffalo Niagara Medical Campus (BNMC) in downtown Buffalo, and includes 1,500,000 square feet of space equally distributed between clinical programs and research/education functions.
NEW SPOT COFFEE AMHERST FRANCHISE
The Company has identified and negotiated a lease for a 2,600 square foot space at 4610 Main Street in Amherst, New York. This strategic location is presently being prepared by the landlord in anticipation of its construction and full development by SPoT into a new SPoT franchise café namely, SPoT Coffee Amherst. The Company is presently finalizing its franchise agreement with the approved franchisee and will be providing progress reports in forthcoming news releases.
The town of Amherst encompasses most of the village of Williamsville as well as the hamlets of Eggertsville, Getzville, Snyder, Swormville, and East Amherst. Amherst is home to the north campus of the University of Buffalo, the graduate campus of Medaille College, a satellite campus of Bryant & Stratton College, and Daemen College. As of the census of 2010, there were 122,366 people residing in the town.
NEW SPOT COFFEE WEST HARTFORD, CONNECTICUT FRANCHISE
The Company confirms completion by its architects of the working drawings, as well as receipt of the premises from the landlord, needed to start the construction of another new 3,000 square foot franchise café in the prestigious Blue Back Square development in West Hartford, CT. For more information about this new franchise SPoT café and the franchisee, Parisco Cafés, LLC, please refer to our news release of June 1, 2017. The Company expects to complete the construction of SPoT Coffee West Hartford café by the end of this year.
LEASE RENEWAL AND RENOVATIONS OF SPOT COFFEE ROCHESTER
The Company has successfully negotiated with the landlord of SPoT Coffee Rochester a renewal of its lease until the year 2022. SPoT will renovating its café while the andlord has committed to make other substaintial renovations to the façade of the building, as well as to install new flooring.
ONGOING EXPANSION OF THE COMPANY'S FRANCHISE PROGRAM
Based on the growing popularity and consistent increase in sales of SPoT Rochester café, the Company has now focused its attention on conducting an intensive demographic and real estate analysis of the Rochester Metropolitan Area in order for it to meet a rising demand for new franchise locations in and around Rochester, including Fairfield, Victor, Webster and many other Monroe County communities where SPoT enjoys significant brand recognition and strength. Accordingly, the Company has now begun examining all possible avenues of further franchise expansion across the southern shore of Lake Ontario.
Furthermore, the Company is now negotiating with a serious prospective franchisee for a new full SPoT café in and around the southwest part of Orange County of New York, which lies approximately 50 miles north of the city of New York. Orange County contains three villages and eight hamlets which are the home of the annual Applefest, the Summer Arts Festival, the Black Dirt Feast, The Hudson Valley Jazz Festival and many other unique events and festivals. The Company will be issuing a news release concerning this new franchise once the franchise agreement is finalized and ratified and a café location has been chosen.
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]