TORONTO, ON--(NewMediaWire - Mar 8, 2017) - Amfil
Technologies Inc. (OTC
PINK: AMFE) is pleased to confirm that to date, 350M of
the 370M shares slated for retirement have been exchanged for
preferred by our transfer agent, American Stock Transfer &
Trust. OTC Markets now reflects this change with our current
outstanding share count reading 444,807,264, down from 794,807,264.
An additional 20M shares is set to be retired in the near future
once the exchange process is complete.
Patronage at the current Snakes & Lattes locations continues
to surge, which we expect to continue into the opening of the new
250 seat location at Yonge & Eglinton. Snakes has recently
become a top venue for film and television production which is
helping develop the brand even further. The hit television show
"Property Brothers" recently filmed at one of our Snakes &
Lattes locations and the CTV mini-series "Cardinal" is
also using the space for filming. Coinciding with the planned
Snakes expansion, the added publicity and increased foot traffic is
welcomed and will help drive awareness of the brand to ensure the
third location is as busy as the existing locations when it opens
for business.
Another development for the brand is the recently released
"Secret Alliance" cream-ale style beer which was developed in
collaboration with Mill Street Brewery. The beer is currently
exclusive to the Snakes & Lattes locations and the popularity
continues to grow at both locations.
Lastly, in our news published on November 16th 2016, Amfil
Technologies Inc. mentioned a potential upcoming acquisition of a
company that would assist with synergizing the internal workings of
each subsidiary to prepare for large scale expansion and
franchising opportunities. This company specializes in processes
that automate the completion of financial reporting, tax compliance
and streamlines the large scale purchasing, accounts receivable /
payables and the many other systems needed for multiple locations
and businesses. This deal is still in the works and is moving
towards the later stages of the process. Related to this, a
software suite which includes wait-list management, tip pooling,
employee scheduling, pay software, shipping, inventory and most
importantly the POS system has been internally developed and
perfected. The company will keep the market updated in terms of the
progression on this acquisition and an announcement will be made
once a deal is finalized.
For more information, feel free to visit our website
at www.amfiltech.com or to contact the company
at ir@amfiltech.com.
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Company's Securities and Exchange Commission filings. These
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the Company's ability to finance, complete and consolidate
acquisition of IP, assets and operating companies, could differ
materially from those anticipated in these forward-looking
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company cautions readers not to place undue reliance on any such
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The company disclaims any obligation subsequently to revise any
forward-looking statements to reflect events or circumstances after
the date of such statements or to reflect the occurrence of
anticipated or unanticipated events.