TORONTO, ON--(NewMediaWire - May 30, 2017) - Amfil
Technologies Inc. (OTC PINK: AMFE) announced late last year that we had
developed and intended to execute on a 2017 Growth Strategy to
expand the company via the development of our existing
subsidiaries, strategic partnerships, acquisitions, the development
of our technologies and general market reach. We are now nearly at
the halfway point into 2017 and are pleased to provide a general
six month summary of the results we have achieved so far under the
strategy and has been publicly disclosed to date, with further
accomplishments and updates to be announced shortly. We also
provide brief updates on operations which have been mentioned but
not elaborated on further as of yet.
Amfil Technologies Inc. (AMFE) highlights the last 6 months:
- The recently acquired Snakes & Lagers Inc. and Snakes &
Lattes Inc. subsidiary posted over $7.35M CAD in revenue with $1.6M
CAD in gross profits last year.
Back to back quarterly revenue increases of 4500% and 26,600%
respectively past two quarters year over year.
Completed a 47% reduction in our Issued and Outstanding Share
Count
Received exclusive distribution rights in Canada and other
international regions to a number of the most popular and well
known board game titles in the world.
Expanded warehouses total capacity and increased staff to
accommodate the expansion.
Increased inventory to over $4.8M in preparation for the expected
near term purchase orders.
Received the largest purchase order to date for exclusively held
titles in Canada from Indigo / Chapters.
Began shipping game products for the $1.25Million CAD deal with
large retailer.
Set-up working relationship with Cineplex/Rec-Room
Working with Nintendo Canada on developing Nintendo Switch game
nights at the Snakes & Lattes Inc. locations.
Partnered with U.S. Fulfillment Houses Game Salute, Cool Stuff
Inc., funagain.com
High Volume retail sales continues through Amazon
Mill Street Brewery developed Secret Alliance beer in conjunction
with Snakes & Lattes
Snakes & Lattes became popular location for the television
& film industries, hosting shows such as Property Brothers.
Signed 10 year lease and began construction on the 3rd Snakes &
Lattes Inc location for Toronto which will be the largest to date
at approx. 10,000 sq. ft. with outdoor patio.
Increased staff from 90-100 employees with short term goal of
approximately 160 by July.
The GROzone mPact Antimicrobial System was rebranded to EcoPrO3 and
added upgrades including; All stainless-steel construction; Greater
flexibility to scale system up or down, depending on facilitys
application requirements; Ability to integrate into existing
facility monitoring/control systems; Ability to control/monitor
remotely via the internet.
Added talent to sales and marketing teams to drive sales and brand
exposure.
Signed agreement with Roto-Gro International (ASX: RGI) to
integrate and distribute the GROzone EcoPrO3 system with the
Roto-Gro hydroponic systems. Further updates relating to the
agreement will be announced as the deal progresses.
GROzone EcoPrO3 passed product review through Pennsylvania
Certified Organic.
Received patent pending number #62472210.
Ku-Kum opening covered by CBCs The National.
Selected RBSM as our auditors to continue where our previous
auditors left off from the filed 2014 10K to become fully reporting
in order to automatically uplist to the OTCQB with intention to
move up to OTCQX once our share price supports the move.
Initiatives mentioned, but not yet expanded on in the past 6
months:
- Retiring 20 Million additional shares from the issued and
outstanding share count. We are in the process of retiring the 20M
shares from the outstanding in exchange for preferred.
Infused Vodka, Wine and Gin company. This potential acquisition is
a brand of infused spirits which has already achieved one of the
most difficult tasks in the alcoholic beverage sector, being
awarded shelf space in major alcohol retailers in Canada (LCBO).
The company is still in the due diligence phase of this potential
acquisition and is further analyzing potential for cross synergies
with existing subsidiaries. We will provide our investors with
further details and a final decision once this is reached.
The 10 acre property being developed for a marijuana grow facility
in California. Amfil has continued discussion with the public
company who is developing the grow facility on the California
property. There are a number of potential initiatives being
discussed with this company, including but not limited to, a
purchase order to have the entire facility outfitted with the
EcoPrO3 Antimicrobial Systems. Further details relating to this
venture will be released as they develop.
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. 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. This
acquisition deal is still in the works, and management has set a
benchmark of having 5 Snakes & Lattes locations up and running
before completing this acquisition and beginning to franchise the
brand.
The company would also like to take this time to thank our
shareholders for their continued support. We highlight our
successes over the past 6 months, but more importantly look to
further increase the momentum, growth, revenues and profits moving
forward. We intend to continue to execute the company's growth
strategy and to deliver maximum value back to our shareholders
quarter after quarter and beyond. The company has a number of major
initiatives in the works which we believe will significantly impact
the bottom line and resultant shareholder / market value. As
always, we will maintain consistent and transparent communication
with the investment community relating to the company's plans,
developments and achievements through the second half of 2017.
For more information regarding the company please
visit www.amfiltech.com and follow us on twitter
for further updates from the company @AmfilTech
For further information on our subsidiaries please visit;
www.snakesandlattes.com, www.grozone.biz, www.interloc-kings.com
About Us
Amfil Technologies, Inc. is the parent company to three wholly
owned subsidiaries.
1). Snakes & Lagers Inc. holds the trade name and is the owner
of Snakes & Lattes Inc. which currently operates a 6,000 sq.
ft. and a 7,500 sq. ft. tabletop gaming bar and cafe located in
Toronto, Ontario that brought in over $7M CAD in revenue last year.
It is in the process of opening a third location at 10,000 sq. ft.,
the largest to date. Snakes & Lagers Inc. is also the
procurement officer of all existing and future Snakes & Lattes
Inc. franchises and has the exclusive rights to sell franchise
locations globally. Snakes & Lattes Inc. was the first board
game bar and cafe in North America, is believed to be the largest
in the world and have the largest circulating public library of
board games in North America for customers to choose from. Snakes
& Lattes Inc. currently has a 90 member staff and recently
acquired the exclusive distribution rights throughout Canada for
some of the most popular board games in the world such as Cards
Against Humanity and Exploding Kittens. BlogTO.com recently named
Snakes & Lattes Inc. the best late night cafe in Toronto and
has also been named the best fulfillment house in Canada by Jamey
Stegmaier, the most influential blogger within the board game
fulfillment sphere. For more information on Snakes & Lattes
Inc. feel free to visit the website at www.snakesandlattes.com
2). The EcoPr03 GROzone Antimicrobial System was jointly
developed between Amfil Tech and A.C.T.S. Inc. which recently
rebranded its technology under Advanced Ozone Integration as an
extension of the existing ozone technology being utilized in the
food and beverage industry and integrated by A.C.T.S. into
companies such as Pepsi, Nestle, Sysco, Sun Pacific and many
others. The system is a triple-function sanitization unit capable
of naturally eliminating 99.9% of water and airborne pathogens and
the typically problematic pests that wreak havoc for cultivators
(like aphids, whiteflies and spider mites), as well as bacteria,
fungus, microbes and mold on surfaces, all without chemicals. The
unit can also constantly regulate a given facility's water supply,
oxygenating the water and maintaining a consistent PPM infusion of
ozone that prevents the formation of algae, bacteria or mold
(allowing for comprehensive water recycling), simultaneously
removing the need to use pesticides and/or dangerous, often
carcinogenic products to treat production problems, as is common
throughout the industry today. This environmentally-friendly
solution also eliminates odors, while slightly reducing the air
temperature, lowering energy consumption by the HEPA filtration and
HVAC systems and could potentially allow for a facilities process
to be labeled certified organic in the U.S.A. when the crop is no
longer considered illegal on the federal level, otherwise "Clean
Green" or "Certified Kind" in the meantime. The EcoPr03 GROzone
Antimicrobial System recently passed product review by a registered
USDA certifying agent for use in California as well as Pennsylvania
and surrounding states. More information on this product line can
be found on the www.grozone.biz website.
3). Interloc-Kings Inc. is a hardscape construction company
servicing the Greater Toronto Area. This subsidiary is an
authorized Unilock installer, Unilock being, North America's
premier manufacturer of concrete interlocking paving stones and
segmental wall products. Interloc-Kings Inc. has an A+ Rating with
the Better Business Bureau (BBB) and a 10/10 rating on
homestars.com. Specializing in stone and wood installations between
$5,000 and $150,000 per project, Interloc-Kings Inc. has quickly
become a top, high quality installation company of outdoor living
areas in the GTA. More information on this subsidiary can be found
at the website www.interloc-kings.com
Safe Harbor Statement
This news release contains statements that involve expectations,
plans or intentions (such as those relating to future business or
financial results, new features or services, or management
strategies) and other factors discussed from time to time in the
Company's OTC Market or Securities and Exchange Commission filings.
These statements are forward-looking and are subject to risks and
uncertainties, so actual results may vary materially. You can
identify these forward-looking statements by words such as "may,"
"should," "expect," "anticipate," "believe," "estimate,"
"confident", "intend," "plan" and other similar expressions. Our
actual results, such as 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 statements as a result of certain factors not
within the control of the company such as a result of various
factors, including future economic, competitive, regulatory, and
market conditions. The company cautions readers not to place undue
reliance on any such forward-looking statements, which speak only
as of the date made. 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.