TORONTO, ONTARIO--(Marketwire - Jan. 30, 2013) -
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SPOT COFFEE (CANADA) LTD. (TSX VENTURE:SPP) ("SPoT" or the "Company") is pleased to announce that it is opening its tenth café, SPoT Saratoga Springs, on Wednesday February 6th, 2013. SPoT Saratoga Springs is located at 55 Railroad Place, on the west bank of the Hudson River in the State of New York. SPoT Saratoga Springs is ideally situated in this quaint historical community in close proximity to state parks, historical museums, the New York Horse Racing and Polo Association and the Saratoga Performing Arts Centre. Saratoga Springs is home to the Saratoga Race Course, a horse track which ranked as the #10 sports venue worldwide of the 20th century by CNN/Sports Illustrated. The Saratoga Race Course proudly hosts the Travers Stakes, known to be the oldest major thoroughbred horse race in the United States. Saratoga Springs is also home to several schools, the largest being Skidmore College, which operates from an exquisite 890 acre campus central to the downtown core.
This new SPoT café is conveniently located in the new Market Centre, a modern development in the heart of lively downtown Saratoga Springs. Market Centre is located one block from Broadway Ave, the neighborhood's busiest commercial district and city centre, and contains over 120 private residential units and several retail boutiques anchored by an impressive 20,000 square foot grocery store to fully service the community and beyond. Additionally, Market Centre is conveniently located within walking distance to the community's central commercial district and provides ample parking for commuters.
A welcoming open house for the community will be held on Friday February 15, 2013 between the hours of 5:00 pm and 9:00 pm. Guests will be able to enjoy a complementary sample of SPoT's food and coffee beverages.
SPoT is continuing with its café expansion for 2013. The build out of SPoT Glen Falls in Upstate New York, the Company's eleventh café, continues to progress on schedule and the Company anticipates this location to open for the community in early summer. SPoT's build out of the Coral Gables café, its twelfth café located in South Miami and adjoining the University of Miami will commence shortly with the café expected to open for the community in the summer of 2013. SPoT reasserts its intention to continue to expand in 2013 by way of new corporate cafés, additional licensed locations in Florida and a focus on corporate catering and the wholesale and retail distribution of the Company's award-winning gourmet roasted coffee and proprietary coffee blends. The Company is currently in the process of evaluating and negotiating a lease for its thirteenth location in central New York State, in the heart of a picturesque and energetic historic community. SPoT will provide more details on its thirteenth location and other future locations once lease negotiations are finalized. In order to fund the corporate expansion plan for 2013, management is diligently pursuing debt and equity financing opportunities locally, with its founders and major shareholders. The Company will report further financing details once negotiations are finalized, regulatory approvals are obtained and agreements are signed.
About SPoT Coffee
SPoT Coffee trades on the TSX Venture Exchange under the symbol SPP. SPoT designs, builds and operates community oriented cafés that provide its customers with the highest quality service, signature made-to-order meals and the world's finest in-house roasted gourmet coffee. Each SPoT café is distinctively designed to meet the uniqueness of the local neighborhood, creating a warm and friendly gathering place for the community. SPoT's commercial business focuses on retail stores, business accounts 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.