TORONTO, ON--(Marketwired - Nov 1, 2017) - Amfil Technologies Inc. (
As part of the acquisition agreement, the founder and President of Natural Stuff Inc., Silvano Racioppo, will remain in a leadership position for the entity, and will act as a consultant for the expansion of all associated business. Mr. Racioppo has over 25 years' experience in the distribution and logistics industries, having expanded into many food and drink brands, leading to generation of approximately $18 Million per year in revenue for his business.
A family tragedy in early 2017 pulled Mr. Racioppo away from his work, leading him to temporarily relinquish most of his market share while he cared for his family. Through this new partnership, as well as the leadership and organizational resources of Amfil Technologies Inc., it is anticipated that Mr. Racioppo will be able to restore much of the $18 million market share that he had obtained prior to the incident. Coupling this with the new targeted markets, this acquisition could significantly impact the company's bottom line in a positive manner over the coming months and years.
Further to the revenues expected from the current and potential market share of Natural Stuff Inc., the established portfolio of distributed brands will serve as an inroad for the portion of the emerging brands currently carried by Snakes & Lattes, including those products carried by the distribution division. This will be paramount to further fuel the explosive expansion of this division, and the brand as a whole.
Pairing Natural Stuff Inc. with the Snakes & Lattes distribution division should prove to be mutually beneficial for both entities. Snakes & Lattes has the established distribution center and network to allow for Natural Stuff Inc. to capture the large commercial clients required to propel and reclaim its former market share as well as take on large scale new clients. Concurrently, Snakes & Lattes can benefit from global promotion by Natural Stuff Inc. to importers around the world for its products.
Natural Stuff Inc. was acquired for 750,000 restricted shares of Amfil common stock.
Further details relating to the distribution business as well as the set launch date of Snakes & Lattes "Midtown" and audit completion date will be included in the company's next announcement. A large PR/Marketing Campaign will accompany the launch of "Midtown" with many TV / Media crews expected to make a presence. Amfil Technologies Inc. is also currently in active discussions with another distribution company and also negotiating acquisition terms that if proves to be a good fit will be acquired to further bolster the growing distribution side of the company. Further details are expected shortly.
For more information regarding the company please visit www.amfiltech.com and follow us on twitter for further updates from the company @AmfilTech
For more information on Snakes & Lattes Inc. please visit www.snakesandlattes.com
For more information on GRO3, please visit 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 an over 100 member staff and 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.
CONTACT: Roger Mortimer Amfil Technologies Inc. Telephone: (647) 880-5887 Email: ir@amfiltech.com
