SOURCE: Amfil Technologies Inc.

Amfil Technologies Inc.

October 17, 2017 08:00 ET

Amfil Technologies Inc. Provides Update on Audit Completion, Uplisting / Dividend, Franchising and General Company Operations

TORONTO, ON--(Marketwired - Oct 17, 2017) - Amfil Technologies Inc. (OTC PINK: AMFE) is pleased to provide shareholders and the investment community with the following update on the company's operations.

Given the multitude of significant events and subsequent announcements expected in the coming weeks, management would like to take this opportunity to communicate several secondary, yet exciting company developments.

Snakes & Lattes establishes Exclusive Partnership with Lending Loop

Snakes & Lattes has entered into an EXCLUSIVE partnership with Lending Loop, Canada's first fully regulated peer-to-peer lending platform focused on small businesses. This partnership will fuel and facilitate the mass expansion of the Snakes and Lattes brand across North America, while simultaneously preserving shareholder value. This is the first time in history that Lending Loop has made a direct partnership to finance a growing company, and they will be conducting a mass marketing/advertising campaign to promote both Lending Loop and Snakes & Lattes.

This partnership solidifies management's' commitment to maintain and further increase shareholder value by avoiding traditional toxic financing deals that are becoming prevalent within the industry. In contrast, Amfil is collaborating with financial innovator, Lending Loop, to fuel the subsidiary's growth at a fair market rate with flexible cash repayment terms.

Further details relating to this new partnership will be released as it develops.

For more information about Lending Loop please visit www.lendingloop.ca/

Snakes & Lattes awards first right of refusal to franchise the Kitchener/Waterloo region of Ontario

The Kitchener/Waterloo region, and Southern neighbor Cambridge, has a combined 523,894 people, and it is the fourth largest Census Metropolitan Area in Ontario. A large portion of the population consists of students attending the various colleges/universities in the area including the University of Waterloo, Wilfred Laurier University, and Conestoga College. Additionally, Kitchener is home to Google's Canadian headquarters.

This marks the second solidified franchise location to be awarded with the first right of refusal, with many more still in the final stages. Further announcements relating to franchising can be expected shortly as the initiative continues to advance.

The Snakes & Lattes franchise planned for Hamilton - Update

Since being awarded the first right of refusal, the prospective franchisee has been incorporated, and it engaged a real estate agent to pinpoint the perfect commercial location. Prime locations have been selected and short-listed, and the franchisee intends to open a "pop-up shop" Snakes & Lattes location just in time for the Christmas rush. This initiative will spark interest and provide the local community a sneak peek of what is expected when the location officially launches on the intended grand opening in Spring 2018.

Further updates relating to the Hamilton franchise will be released as they develop.

Update on the auditing of the company's financials and subsequent uplisting, spinoff / dividend

RBSM LLP, the auditors engaged to audit the company's financials, are in town this week to review the company's inventory as the final stage before completion. The audit process has been smoother than expected as Amfil's accountants have been exceptionally diligent in maintaining thorough and accurate financial records of all transactions. Amfil Technologies Inc. is the first publicly traded company to exclusively use Xero Accounting for its bookkeeping. Xero Accounting Software has provided a low-cost, high efficiency platform to effectively manage all accounting practices.

Once the audit is completed and the required information submitted to OTC Markets, AMFE will be immediately uplisted from the pink sheets to the OTCQB, and once price allows, to the QX.

Following the audit and uplist, the company will execute a spin-off of the Interloc-Kings Inc. subsidiary into a separate publicly traded entity, which all shareholders at the date of record will receive shares in. The date of record and the share structure/format of the new entity, including share entitlements to shareholders, will be announced shortly. Proceeding the previously mentioned announcement, details related to the business plan of Interloc-Kings Inc, including potential acquisitions, will be released to the investment community.

Further information relating to the above-mentioned initiatives regarding the company's structure will be announced as they develop.

Snakes & Lattes Inc prepares for the Holiday Season's Corporate Events

Snakes & Lattes has become a well sought-after and desirable venue for corporate events, including Holiday Parties. Demand for the 2017 holiday season has been staggering, rising approximately 100% compared to last year. Management is being selective when agreeing to grant rentals for corporate events, and they are ensuring that repeat clients, some of whom book multiple events throughout the year, obtain their desired booking dates. Management is working diligently to ensure that the Midtown location is available to cater to the increased demand.

Our corporate event clients include; McDonald's Canada, Royal Bank of Canada, Toronto Dominion Bank, Bank of Montreal, Scotiabank, KPMG, Accenture, Rogers, Mozilla, Spinmaster, the Government of Ontario, and many more.

Overview

The company is thriving and continues to expand operations as the growth oriented business model is executed by management. The company looks forward to the final stages of audit completion and submission to the OTC Markets, allowing us to move off the pink sheets and onto the OTCQB and eventually the QX. The timing is perfect as we come off our biggest quarter to date and are entering the strongest quarter historically for the Snakes & Lattes subsidiary. This is in the midst of a large-scale expansion and franchising of the Snakes & Lattes retail division and the advancement of the GRO3 initiatives. GRO3 is currently in the process of solidifying significant partnerships and integrations of the GRO3 technologies into developing marijuana cultivation facilities. Further information relating to the GRO3 initiatives can be expected shortly.

The record breaking Fiscal Q1 numbers will be released by close of business Friday, Oct. 20th 2017 and will be followed by a Q1 press release on Monday.

For more information regarding the company, please visit www.amfiltech.com and follow us on Twitter for further updates @AmfilTech.

For more information on Snakes & Lattes Inc. please visit www.snakesandlattes.com

For more information on GRO3, please visit gro3systems.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. 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 GRO3 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 GRO3 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.gro3systems.com website or on twitter @GRO3Systems.

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.

Contact Information

  • CONTACT:

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