Spot Coffee (Canada) Ltd.
TSX VENTURE : SPP

Spot Coffee (Canada) Ltd.

August 06, 2009 12:11 ET

Spot Coffee Announces Successful Opening of Its Fifth Cafe

TORONTO, ONTARIO--(Marketwire - Aug. 6, 2009) - Spot Coffee (CANADA) LTD. (TSX VENTURE:SPP) ("SPoT" or the "Company") (formerly, "Award Capital Corp."), is pleased to announce that it has recently opened its fifth location in Western New York State. SPoT's newest cafe ("Williamsville SPoT") was opened on May 1st and is located in the historic Village of Williamsville in the affluent Town of Amherst, NY. Williamsville SPoT boasts a commanding sidewalk front location with high visibility at the busy intersection of Williamsville's Main Street and Union Road. The total area of this cafe is approximately 3,000 square feet with seating capacity for 110 patrons.

"Williamsville SPoT is financially a great success for our Company and a best-in-class example of a SPoT cafe designed for its community," commented Mr. John Lorenzo, President of SPoT.

Mr. Lorenzo added: "Consistent with our operating model, this cafe was designed to fit into the fabric of its surrounding community. With the help of local architect Bradley Wales, we have a created a modern design which respects the heritage of the Village of Williamsville and blends SPoT into its surroundings."

Mr. Lorenzo further added: "SPoT offers its patrons different types of seating areas depending on their moods-of-the-day, whether its table seating, a relaxed parlor with deep leather couches and chairs, window counter seating or patio seating. Our centerpiece of Williamsville SPoT is a free-standing fireplace located in the center of the cafe surrounded by harvest seating. We purposely placed it in front of large, full length windows over-looking a very busy Main Street making it visible so it can be in the center of our cafe and welcome people in as a warm refuge from the winter cold."

As a gift to the community of Williamsville, Williamsville SPoT commissioned and now displays a wall size mural highlighting several historical landmarks and scenes from the Village of Williamsville.

"Williamsville SPoT is exceeding management's break-even financial performance forecasts for a new cafe opening," further commented Mr. Richard Gress, CEO of SPoT USA Operations. "With the strong support and acceptance of SPoT into the Williamsville community, we have seen consistent revenue generation in our first three months of operation. Based on this measurement we are forecasting in excess of $1.2 million of revenue in our first year of performance from Williamsville SPoT which exceeds management's current metrics for evaluating the performance of a cafe."

SPoT is strategically redeveloping some of its existing locations to increase square footage and menu items, as well as expanding its locations across Canada, the United States and into the Middle East. The Company intends to be operating ten company-owned cafes by the end of 2010. SPoT's newest location in Del Ray Beach, Florida is anticipated to open during the fourth quarter of 2009, as well as the re-opening of SPoT's most successful location to date, Elwood SPoT in Buffalo. Elwood SPoT will become a marquee location for SPoT after a significant

capital improvement project that will result in the doubling of its square footage to 4,400 square feet and a re-design to accommodate enhanced food offerings and entertainment space. Last year the Elmwood SPoT location generated $1.4 million in gross revenue for the company.

About SPoT

SPoT designs, builds and operates community oriented cafes that provide its customers from every lifestyle and culture with the highest quality service, signature light meals and roasted in-house gourmet coffee. SPoT has been successfully operating company-owned cafes in Western New York State and Canada since 2004.

Each SPoT cafe is a popular and friendly gathering place for its community where specialty coffee, upscale beverages, fresh baked goods, signature sandwiches, soups, salads and gourmet pizza, cakes, pastries and home baked goods are offered and enjoyed by its patrons in a warm, friendly and home-like environment.

The Company currently operates five cafes that range in size from 2,000 to in excess of 4,000 square feet with locations in Buffalo (two), Williamsville and Rochester in New York State and Toronto, Canada.

Unlike other conventional gourmet coffee houses and quick service restaurants that are built on uniformity of product and style, each SPoT cafe maintains several unique and key features, including:

- Dedication to create a friendly environment that nourishes and intensifies a sense of gathering and of community;

- Roasting in-house and blending SPoT's own award-winning premium Arabica coffee;

- Unwavering commitment to offer the customers of the Company the highest quality products and services;

- Innovative and varying cafe designs that consider both the culture and flavor of the specific communities of each cafe;

- Choice of corner locations for each SPoT cafe at the center of their neighborhoods;

- Ability to offer intimate and warm ambiances in each cafe to suit the social and private moods of SPoT's patrons; and

- Trained and dynamic service staff that are proud to call themselves "Spotters" who enjoy serving their customers and make them feel at home.

Forward Looking Statements

Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. 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. Except as required by applicable securities requirements, the Corporation 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.

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