Amfil Technologies Inc (FUNN)

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*****Humongous FUNN news out !!! great job Rogen

AMFIL TECHNOLOGIES, INC (OTC:FUNN) CEO UPDATE ON CANADIAN CANNABIS DISPENSARY INITIATIVE

Amfil Technologies, Inc. (OTC:FUNN) announces current status and progress with its initiative to expand into the cannabis dispensary business.

Brief History:

On August 31, 2020, Tokin Dispensaries Inc. and David Berkovits entered into an assignment agreement with FUNN whereby Tokin assigned assets to FUNN. Tokin was and is a licensed cannabis retail operator in Ontario. Tokin initially secured a lease for one dispensary location at 10 Dunlop Drive, St. Catharines in the Greater Toronto area. All rights and responsibilities regarding that location were assigned to FUNN through the assignment agreement. FUNN also has space for a suitable location near one of the Snakes & Lattes venues in Toronto. Berkovits has additional locations to be considered, and has taken responsibility for obtaining dispensary licenses for FUNN in existing and future locations.



Additional material terms of the agreement:



FUNN will own 100% of the dispensaries opened under the agreement subject to Canadian government approval for its dispensary operators license.



Berkovits will be paid a service fee for each location he provides assistance in:



Securing funding
Securing location
Completing buildout
Obtaining necessary permits and licenses
Stocking location with product
Hiring and training staff
Successfully opening
The current status of materializing this agreement is as follows:



FUNN Dispensaries, Inc. has been approved for incorporation in Canada. Federal Corporation Information - 1264130-5 - Online Filing Centre - Corporations Canada - Corporations - Innovation, Science and Economic Development Canada. Amfil Technologies Inc. owns 100% of this corporation.
FUNN Dispensaries, Inc. has begun the process of acquiring the necessary dispensary operators license.
FUNN Dispensaries, Inc. has signed an agreement with the landlord to immediately take over the lease for 10 Dunlop.
Bids have already been approved and contractors have been hired to build out the first location at 10 Dunlop.
Funds have been appropriated for FUNN Dispensaries, Inc. to complete the buildout.
Projected timeline to open the first location is approximately 3 months pending buildout and transfer of the operators license and location permit. A firm opening date will be announced at the appropriate time.
FUNN Dispensaries, Inc. and its parent company, Amfil Technologies Inc. (FUNN) will retain all profits from this initiative. Success of this new business model will add significant value to the company and to the benefit of Amfil (FUNN) shareholders.

We are excited to see our latest business initiative move forward. The cannabis industry continues to thrive in Canada and the world at large. More and more countries and territories are updating their regulations and permit the Cannabis industry to expand. The current plan is to scale this business through additional locations in Toronto and beyond. Efforts will be reported as expansion efforts progress and in the CEO quarterly updates.



https://www.otcmarkets.com/stock/FUNN/news/AMFIL-TECHNOLOGIES-INC-OTCFUNN-CEO-UPDATE-ON-CANADIAN-CANNABIS-DISPENSARY-INITIATIVE?id=291099