ACQUISITION COMPLETED - Sep 28, 2016 (ACCESSWIRE via COMTEX) -- TORONTO, ON / ACCESSWIRE / September 28, 2016 / Amfil Technologies Inc. (otc pink:AMFE) announces the closing of the Snakes & Lagers Inc. acquisition. Snakes & Lagers Inc., holds the trade name of Snakes & Lattes Inc., is 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. opened it's doors in August of 2010 as North America's first board game cafe in a small space at 600 Bloor Street West, downtown Toronto. The popularity of the location exploded, forcing Snakes & Lattes to expand into the neighboring space at 602 Bloor Street West and then once again to 604 Bloor Street West, resulting in a 5000 sq. ft location with a seating capacity of 150 seats. A second 7500 sq. ft location was opened at 489 College Street. With a seating capacity of 240, this location is perhaps the largest board game/cafe bar in North America, feeding patrons with a vast library of board games, food, cafe and alcoholic beverages.
Snakes & Lattes Inc. is also a seller of board games and other related products through their retail locations as well as online. Due to high demand, Snakes & Lagers acquired a warehouse space to store and manage the logistics of the deliveries.
Amfil Technologies Inc. (AMFE) anticipates a conservative estimate of $2-$3 Million of immediate annual revenue which will be reflected on the Q2 financials. Further to the popularity of the current Snakes & Lagers locations and online sales, Amfil Technologies Inc. has received a great deal of interest from entrepreneurs throughout North America, looking to purchase Snakes & Lattes franchises since the release of the LOI in April 2016. Amfil Technologies Inc. anticipates the revenue estimates of $2-$3 Million to grow considerably through the expansion of the retail, online and franchise divisions.
For more information on the company, feel free to visit our website at www.amfiltech.com.
