SOURCE: Amfil Technologies Inc.

Amfil Technologies Inc.

March 30, 2017 08:00 ET

Amfil Technologies Inc. Intends to Regain SEC Fully Reporting Issuer Status & Will Seek Uplisting to the OTCQB With an Initial Goal for the OTCQX

TORONTO, ON--(Marketwired - Mar 30, 2017) - Amfil Technologies Inc. (OTC PINK: AMFE) is pleased to announce that it has begun the process of seeking out quotes from PCAOB licensed auditing firms to continue on from our last audited 10K for year-end 2014. 

Since the recent acquisition of Snakes & Lagers Inc. / Snakes & Lattes Inc. and the resultant impact on the financial statements, the company intends to up-list from the OTC Pink tier. On May 12th, 2015, the company filed audited financial statements completed by MNP LLC. for the fiscal year ends of 2013 and 2014. Since inception in 1985 Amfil Technologies Inc. had always been an SEC reporting issuer until our switch to alternative reporting in May 2015. The 2015, 2016 and the quarterly financial statements thus far into 2017 were filed unaudited through OTC Markets directly as per the alternative reporting guidelines. Over the coming months, the company intends to have year ends 2015, 2016 and 2017 audited in conjunction with the filing of a Form 10 to re-register as a fully reporting company with the Securities and Exchange Commission. We would like to time this process if possible with our fiscal year end 2017, being June 30th 2017 or shortly thereafter.

The effect of this would be an immediate up-listing from OTC Pink to the OTCQB tier. The up-listing to the OTCQB is an activity we have considered for some time. The current plans to up list Amfil initially to the OTCQB tier will provide the investment community with full transparency and allow the stock to be quoted and traded by a wider range of brokerages, particularly retail brokers, eliminating many of the challenges we endure as an OTC Pink Current company. We will have more to discuss about other aspects of this up-list registration in the coming weeks.

The OTCQB Venture Market is for entrepreneurial and development stage companies that are not yet able to qualify for OTCQX. OTCQB companies must be current in their reporting and must undergo an annual verification and management certification process. It is the company's intention, once the stock's bid price allows, to do a further up-list to the OTCQX tier. It is our view that the company meets all requirements to make the move, aside from the minimum initial bid price of $.25/share. The company is confident, as we continue to execute our business plan and increase revenues and profits, that the stock's bid price will increase as well, allowing us to eventually list under the OTCQX tier.

The OTCQX Market features some of the largest global blue chip companies and high-growth U.S. small caps. OTCQX companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, and have a professional third-party sponsor introduction. The companies found on OTCQX are distinguished by the integrity of their operations and diligence with which they convey their qualifications. A company listing on OTCQX would join premier companies such as Heineken N.V. and Adidas AG.

The company has greatly exceeded growth expectations thus far into 2017 and has been actively pursuing a number of opportunities to further bolster all subsidiaries in their respective industries. The company has been especially active with the development of the GROzone subsidiary which has recently received U.S. Patent Pending #62472210 for the new EcoPr03 GROzone Antimicrobial System. Additionally, GROzone is in the final stages of an agreement to market and distribute the GROzone antimicrobial systems alongside a highly established hydroponics developer. This deal will be a monumental step for the GROzone subsidiary's penetration into the global market. We anticipate this deal to be finalized within the coming days and expect to update shareholders accordingly upon completion.

For more information, feel free to visit our website at www.amfiltech.com or to contact the company at ir@amfiltech.com. Follow us on Twitter @AmfilTech

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 6000 sq. ft. and a 7,500 sq. ft. tabletop gaming bars and cafes located in Toronto, Ontario that brought in over $7M CDN 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 café 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 café 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 GroZone 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. GROzone 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 GROzone unit recently passed product review by a registered USDA certifying agent for use in California as well as Pennsylvania and surrounding states. More information of the grozone line of products 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 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. 

Contact Information

  • CONTACT:
    Roger Mortimer
    Amfil Technologies Inc.
    Telephone: (647) 880-5887
    Email: ir@amfiltech.com