TORONTO, June 8, 2018 /CNW/ - SPOT COFFEE (CANADA) LTD. (TSX-V: SPP) ("SPoT" or the "Company") would like to extend its thanks to Mrs. Ying Chen, Spot's outgoing CFO, for her work with the Company over the last few years. During Ms. Chen's employment with the Company, it grew to 24 locations. The entire Spot family wishes her the best as she prepares to welcome a new child into her life.
Spot would also like to report that Mrs. Colleen Hobson, CPA, has re-joined the Company and is once again assuming the role of Chief Financial Officer. Mrs. Hobson has always been an important part of Spot Coffee's team since its early years as a public company, and her return is warmly welcomed by Spot's management team. Mrs. Hobson is very familiar with SPoT's progress and developing business plan, as she has maintained the important role of a consultant to the Company's chairman and directors. Mrs. Hobson's extensive experience working with both public and private companies, and her deep knowledge of streamlined accounting and reporting systems, will be crucial in the preparation of the Company's business and financial plan for its projected expansion to 50 locations by the end of 2020.
"Since 2001, I have been working closely with Colleen in many ways; as an auditor, financial consultant and Chief Financial Officer," said John Lorenzo, Executive Chairman of Spot Coffee, "Under my direction, and with the full support of our management team, Colleen has already begun working on a thorough financial analysis aimed at the intelligent reduction of costs through automation and selective outsourcing where applicable. Our top priorities are to maintain quality and improve our systems in preparation for further growth."
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, aayo[email protected]