TORONTO, April 18, 2017 /CNW/ - SPOT COFFEE (CANADA) LTD. (TSX-V: SPP) ("SPoT" or the "Company") is pleased to report that it has entered into a franchise agreement with Cedarland Foods, LLC to develop a SPoT Express café in Waterfront Village located at 50 Lakefront Blvd, Buffalo, N.Y. SPoT Waterfront Village is scheduled to open in the first week of July, 2017.
The principals of Cederland Foods, LLC 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 multi-faceted real estate company founded in Buffalo, New York in 2015.
Waterfront Village is a premiere 300,000 sq. ft. downtown commercial complex which includes offices and a marina surrounded by residential condominiums. The community offers a spectacular setting on Buffalo's waterfront and numerous amenities within walking distance of the Central Business District, Templeton Landing, Liberty Hound and access to the new developments at Canalside. Waterfront Village is a downtown location with direct highway access that is well suited for further residential condominium and commercial office development.
The Company has agreed to provide Dr. Dagher with a Right of First Refusal to develop an additional SPoT Express café in the Canalside area in Buffalo.
The Company wishes to also add to the franchise activities' update provided on April 12th, 2017 that Chartwells of Buffalo has been operating in Buffalo State College under a SPoT Coffee Express license where SPoT's coffee is being exclusively served.
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]