Spot Coffee (Canada) Ltd.

Spot Coffee (Canada) Ltd.

August 01, 2014 09:26 ET

SPoT Coffee Provides Update on Franchise Business Model

TORONTO, ONTARIO--(Marketwired - Aug. 1, 2014) - SPOT COFFEE (CANADA) LTD. (TSX VENTURE:SPP) ("SPoT" or the "Company") is pleased to announce that that it is preparing to begin offering franchise SPoT Coffee cafés beginning in the fall of 2014, pending franchise approval from the State of New York. SPoT's management has been working diligently with its legal team to complete the required documents in order to obtain its N.Y. franchise license. The Company, along with its legal team, is currently reviewing its final disclosure draft and intends to submit it to the State of New York this week.

The Company is also pleased to announce that it is making positive progress in the monetization of its existing corporate cafés, which will be converted to licensed cafés once sold. All licensed cafés in New York State, including the recently licensed SPoT Orchard Park, will convert to franchise locations upon final approval of the Company's franchise documents. The Company continues to receive a high volume of inquiries from potential new owners regarding its existing cafés.

"We are making positive headway every day with our franchise documentation and continue to focus our efforts to make sure we are successfully granted our franchising license on schedule." commented Paul Price, Senior Vice President of Franchise Operations for SPoT Coffee, "Demand for existing cafés and new franchises continues to be robust. I look forward to finalizing the franchise application in the coming days, then turning my efforts to our next phase, which includes preparations to begin expanding via new franchise cafés."

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 complement the unique attributes 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.

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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