Toronto, ON, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Amfil Technologies Inc. (OTC Pink: AMFE) is pleased to provide the following update to shareholders and investment community.
2017 was a great year for the company. As calendar 2017 comes to a close, the company felt it would be a good time to reflect on the accomplishments of 2017 and assess the efficacy of the “Growth Strategy” implemented by current management last year.
Amongst the many achievements in 2017, the company believes the following items to be noteworthy accomplishments that have strengthened the company not only throughout this past year but will continue to add value and fuel the company’s growth for many years to come.
Accomplishments of 2017
- Hired additional staff to the GRO3 sales and marketing as well as corporate team. Rebranded GROZONE to the EcoPrO3 GRO3, made numerous upgrades to the old technology and system. Some of the upgrades included
- Unit is now all stainless steel.
- Fully automated system with user friendly electronic interface making operational control very easy to use and the ability to have tighter control parameters.
- Highly efficient in addressing most of the challenges facing grow-ops with regards to mold control, insecticide reduction, more effective nutrient consumption, improved plant strength and quality.
- Greater flexibility to scale systems up or down based on actual grow-op application requirements.
- Ability to integrate/adapt into existing facility monitoring/control systems or develop independent systems where required
- Ability to control/monitor via internet or remotely.
- Overall market value and share price has increased significantly over the past 12 months coming from a low of below .005 twelve months ago to .125 today, which equates to 2400% in year over year sustained gains in terms of market perception and sustained share price.
- Announced Fiscal Q2 2017 revenue increase YoY of +4500% to $1,542,389
- Announced the reduction of the issued and outstanding share count by 47% in March 2017.
- GRO3 passed product review by Accredited USDA certifying agent Pennsylvania Certified Organic confirming the GRO3 product line complied with National Organic Programs (NOP) regulations allowing clients in Pennsylvania and the surrounding states as well as California to use the product line.
- GRO3 received U.S. Patent Pending #62472210 for the new EcoPr03 GRO3 Antimicrobial System.
- Snakes & Lattes invited to host weekly events at Cineplex’s the Rec Room in Toronto with a select team and collection of board games to commence a working relationship and showcase the Snakes & Lattes brand. This was a great success and the trial period has now been expanded to an ongoing weekly event indefinitely at this time.
- GRO3 entered into discussions with a California corporation to integrate the EcoPrO3 technology into a 10-acre medical marijuana property which is in development.
- PCAOB auditor is engaged to perform audit on last three fiscal years so the company can uplist to the OTCQB and hopefully straight to OTCQX. Process is moving along well, yet still ongoing but expected to be completed shortly.
- Snakes & Lattes Inc. receives exclusive distribution rights to Canada for a number of the most popular board game titles in the world.
- BlogTO.com named the Snakes & Lattes College location the best late night café in Toronto.
- Jamey Stegmaier with Stonemaier Games, the most influential blogger within the boardgame fulfillment sphere, naming Snakes & Lattes the best fulfillment house in Canada.
- Snakes & Lattes partners with three of the largest fulfillment houses in the United States, these being funagain.com, Gamesalute and CoolStuffInc.
- Warehouse space and warehouse inventory increased dramatically to keep up with demand.
- Snakes & Lattes set up new partnership with FedEx in order to streamline logistical processes, improve efficiency and decrease costs, while increasing and improving reach to customers throughout Canada and the United States.
- Employees now exceed 100+
- Mill Street Brewery developed ‘Secret Alliance’ beer in conjunction with Snakes & Lattes to be sold exclusively at Snakes & Lattes locations.
- Snakes & Lattes Inc. received its largest purchase order to date from Indigo Chapters and will be supplying approximately 10,000 units each of a number of titles where exclusive Canadian distribution rights are held.
- Will now be warehousing, supplying and drop-shipping all orders placed on Amazon for titles that Snakes & Lattes Inc. has exclusive Canadian distribution rights to.
- Amfil signs an agreement with Roto-Gro Worldwide Inc. to form a joint venture to integrate and distribute the GROzone EcoPr03 Antimicrobial System with the revolutionary Roto-Gro Rotary Hydroponic systems.
- Announced Fiscal Q3 2017 Revenue Increase YoY of 26,600% to $1,809,064.
- Snakes & Lattes receives exclusive international distribution rights to some popular game titles to South-East Asia and European markets.
- 10 year lease is signed for the third and largest Snakes & Lattes location to date, which is now known as ‘Midtown”. McMillan was selected as the designers for the 10,000 sq. ft. location and mForm as the lead contractors.
- A new division of Snakes & Lagers Inc. was created in partnership with executive head chef Joseph Shawana to open "Kū-kŭm", a fine dining restaurant centered in the culinary traditions and narratives of the indigenous people of Canada. Opening covered by CBC’s The National.
- Snakes and Lattes receives largest purchase order to date at $1.25M CDN and continues bringing on new clients and targeting select companies and purchasing agents of large retailers to expand distribution. Receives further exclusive Canadian distributorships for top game titles.
- GRO3 gets new showroom in London, Ontario.
- Snakes & Lattes forms publishing division and hopes the monthly game designer nights will allow for cherry picking of best games to publish or have a grand prize of publishing their game.
- Amfil decides to go one step further once audit is completed and spin-off the Interloc-Kings Inc. subsidiary thereby creating a share dividend back to the shareholders. This process will begin once the audit is complete and uplist has occurred which is expected shortly.
- Snakes & Lattes partners with the Toronto District School Board, French School Board, Sick Kids Hospital & Day Camps furthering community initiatives.
- GRO3 receives its first purchase order commitment from an up and coming 40,000 sq. ft. grow facility that is in the process of finishing their construction in preparation of having production go online in early 2018. Order will be for 100 Roto-Gro units and 5 EcoPr03 systems and values at approximately $1.15M.
- Announced 2017 Fiscal Year End Revenues of $6,630,973 USD; Up Almost 2400% Over FYE 2016
- Received an order for two shipping containers of product, approx. 32,000 units of games the company holds the exclusive distribution rights to in Canada. This single order was received from Amazon and is valued at over $650,000
- Warehouse space more than doubles going from 3500 sq. ft. to 8000 sq. ft.
- GRO3 featured in PCO magazine ‘Organic Matters’.
- Amfil reduces the authorized share count by 300M, from 900M down to 600M.
- Snakes & Lattes announced the creation of new head office / franchise headquarters.
- Kevin Flynn, Minister of Labour holds a media availability event @ Snakes & Lattes 'College' and discusses the upcoming minimum wage increase and Snakes and Lattes’ pro stance.
- GRO3 begins working with the same party who provided the purchase order commitment for their 40,000 sq. ft. location to have a roll-out proposal for a second proposed property that was purchased. Given a commitment go-ahead when they are ready.
- Snakes and Lattes provides franchising ideal rollout map and guidance on the franchise plans for the company divided into waves 1-4.
- Snakes & Lattes sells its first franchise location in Hamilton, Ontario.
- Snakes & Lattes begins hosting weekly board game nights called “Battlemat” at Cineplex’s Rec Room Toronto Roadhouse every Monday from 7pm – 11pm as a pilot project that has now switched to indefinite at this time.
- Snakes & Lattes establishes partnership with Lending Loop, Canadas first fully regulated peer-to-peer lending platform focused on small businesses.
- Snakes & Lattes sells its second franchise location in Waterloo, Ontario.
- Corporate events and holiday parties that are scheduled at Snakes & Lattes are up almost 100% year over year.
- Amfil Technologies Inc. Announces Fiscal Q1 2018 Revenues up 20,619% Year Over Year to $5,900,346 Setting A New Quarterly Financial Record For The Company
- Recruited successful Hollywood graphic designer Daniel Bieber, dbieber.com to create and design the box cover art, game surface, posters and marketing materials as well as all items needed for game play on self-published titles.
- Received Signing Bonus of $200,000 and First Exclusive Publishing & Distribution Contract
- GRO3systems.com receives a website overhaul.
- Amfil acquires Natural Stuff Inc., Distributors of 28 Black Amongst Other Products
- Large PR / Marketing Campaign set up for the Grand opening of 3rd Midtown location.
- Snakes & Lattes has signed an exclusive partnership agreement with CBRE Limited, the Canadian subsidiary of CBRE Group Inc.
- Natural Stuff Inc. coming out the gate strong. Another 3 truckloads and 1300 packages out the door in one day.
- Chicago was chosen as the first corporate owned location to open in the USA in 2018.
- Numerous U.S. and Canadian based potential franchisees in discussions to open location(s).
- 3rd and largest location to date, ‘Midtown’ officially opens its doors for business.
- Online orders to U.S. residents begins.
- Snakes & Lattes announces the Master Franchising Program
- It is announced that the first self-published game titles will be ready in early 2018.
- Audit process is nearing completion which kicks off the uplist, spin-off / share dividend plans previously announced. Management comprehends the expressed interest from shareholders regarding the completion of this process and assures the investment community that this process is progressing smoothly and should be completed very soon.
In Conclusion
Management is pleased with the great success of the 2017 company growth strategy. The achievements of calendar 2017 have built the foundation for continued explosive growth into calendar 2018 and beyond. The company intends to stay the course with the growth strategy, whilst continuing to execute on a number of revenue generating initiatives. Current projects include:
- Continued United States franchising of Snakes & Lattes
- Establishment of corporate owned Snakes & Lattes location in Chicago, IL
- Hamilton, ON and Kitchener/Waterloo, ON Canadian franchises opening
- Snakes & Lattes Game Publishing Expansion
- Continued expansion of Snakes & Lattes Distribution division
- Continued expansion of Natural Stuff Inc. Distribution
- Completion of the Audit and subsequent Uplist and Spinoff of Interloc-Kings Inc
- The completion of the GRO3 installation and integration into a licensed medical marijuana facility in Southern Ontario and other locations currently in discussion.
The company remains on an upwards trajectory in terms of revenues, growth, and expansion which managements expects to continue into the foreseeable future. The company continues its aggressive approach to the mass expansion of all related subsidiaries and business divisions, and total commitment to increasing shareholder value with year over year growth. A number of new and exciting developments will be released in the coming weeks as we enter into calendar 2018 which is expected to be the largest year in company history by far posting exponential year over year revenue growth.
A number of updates can be expected from Amfil Technologies Inc. and its subsidiaries in the near future.
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 http://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 100+ 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.