SPoT Coffee (Canada) Ltd.

SPoT Coffee (Canada) Ltd.

March 08, 2016 10:28 ET

SPoT Coffee Announces 15% Same Store Sales Increase, Sells Multiple Additional Franchises

TORONTO, ONTARIO--(Marketwired - March 8, 2016) - SPOT COFFEE (CANADA) LTD. (TSX VENTURE:SPP) ("SPoT" or the "Company") is pleased to announce that it has achieved record corporate sales in 2015, with same store sales increasing by 15% for the three months ending February 29th 2016, compared to the same period the year before. The company continues to see increased revenue from its franchise program, as well as consistent growth in commercial accounts.

SPoT's most recently booked franchise café, SPoT Kenmore, is expected to be open for business in the summer of 2016. This café will be located in the well-developed community of Kenmore Village, New York, which was recently voted one of the "10 Greatest Neighbourhoods in the United States" by the American Planning Association. The Company believes that this location is perfectly suited for a new SPoT café due to favorable demographics and its central location at the intersection of Delaware Avenue and Delaware Road. Furthermore, SPoT Kenmore can be easily serviced by SPoT's coffee roasting facility and SPoT's central kitchen in downtown Buffalo.

The Company has also received a franchise deposit from a new franchisee who is interested to acquire SPoT Transit and convert it into a franchise café. Under this proposal, which is currently being negotiated, a drive-thru option will be added to the café, making it the first among SPoT Cafes to feature such an option. SPoT believes that the new drive-thru is well suited to SPoT Transit, which is located on a busy thoroughfare, and will produce a substantial increase in overall café revenue.

The Company is proud to announce the successful grand opening of its newest franchise café, SPoT Hamburg. Sales in the opening week were in line with SPoT's strongest performing cafés, and management believes that these robust results will continue as the local community further embraces the SPoT Coffee concept.

"We are very excited by the latest developments concerning our ongoing franchising efforts across New York State, as well as with the outstanding performance our corporate cafés have seen during the first few months of this year," said Anton Ayoub, SPoT Coffee's president. "As we continue to expand our franchise footprint, we will be able to announce certain online and in-store innovations we are currently working towards perfecting."

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About SPoT Coffee

SPoT Coffee trades on the TSX Venture Exchange under the symbol SPP. SPoT designs, builds, operates and franchises community oriented cafés and express cafés in New York State. SPoT's community cafés provide its customers with the highest quality service, signature made-to-order meals and award winning micro-roasted coffee. Each SPoT café is distinctively designed to suit its local neighbourhood, creating a warm and friendly gathering place for the community. SPoT's commercial business focuses on the sale of roasted coffee beans to food service and grocery chains, business offices and third party resellers such as universities and hospitals.

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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