TORONTO, June 27, 2017 /CNW/ - SPOT COFFEE (CANADA) LTD. (TSX-V: SPP) ("SPoT" or the "Company") is pleased to announce that yesterday it entered into agreements with two (2) new franchisees to develop a Full SPoT café and a SPoT Express café in New York State. SPoT's new Full café will be designed to serve the community of the Town of Amherst, New York, while its new Express café will be located in Buffalo. The Company has identified and is presently negotiating a location for the Full SPoT franchise cafe in Amherst, New York, and is actively seeking a suitable location for the Express franchise café.
The sound financial performance of the Company's corporate and franchise cafés, as well as the growing strength of its brand in New York and its neighboring states, has created a steady and continuous demand for both of its café franchise models.
"Faced by an increasing demand for both of our café franchise models, we are determined to maintain controlled growth when it comes to the selection of franchisees and café locations that can best serve their communities," said Anton Ayoub, president of SPoT, "Our management team and all of our staff are unified in their commitment to deepen our efforts to attain profitable company-wide operations in the forthcoming quarters."
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]