TORONTO , Nov. 5, 2020 /CNW/ - SPOT COFFEE ( CANADA ) LTD. (TSXV: SPP) ("Spot" or the "Company") is pleased to announce that, further to its franchise update news release of December 10 th , 2019, the full development of the following franchise SPoT Express locations and SPoT neighborhood cafés have been completed this year despite the lingering COVID-19 pandemic. Two of these locations, namely SPoT Coffee Niagara Falls and the SPoT Express at the Tops Elmwood supermarket, are now open to welcome and serve customers.
SPoT Coffee Niagara Falls, NY
Due to the COVID-19 pandemic, the opening of SPoT Coffee Niagara Falls was delayed until early August of this year. Once the development of this beautiful café located on the scenic banks of the Niagara River was completed, it opened its doors to tourists and residents of its local Niagara neighborhood. Since its opening, the operation of SPoT Coffee Niagara Falls has been outperforming expectations. It continues to grow its already impressive guest list.
SPoT Express at Tops Elmwood Supermarket
In keeping with SPoT's commitment to advancing its multi-franchise strategic alliance with Tops, this Express café was opened in late July of this year and is currently the fifth and most recent SPoT Express to open inside a Tops supermarket in the greater Buffalo area.
SPoT Coffee North Tonawanda, NY
The full development of SPoT Coffee North Tonawanda is nearing completion as of the issuance of this news release and is presently estimated to open before Christmas of 2020. As previously announced, this café is located inside a 130-year old historic building that previously housed the North Tonawanda History Museum. SPoT's franchisee there, Ralph Dailey , is also a property developer. He has been paying a great deal of attention to the interior design of this café and is focused on creating a warm and welcoming ambiance based on a refreshing industrial marine theme. The Company has commenced training the manager of SPoT Coffee North Tonawanda in preparation for its imminent opening.
Under COVID-19 regulations, the Company's cafes are currently operating with only 50% of their normal inside seating capacity available to customers. However, even with reduced inside seating, SPoT's cafes have been generating up to 65% of their pre-COVID-19 average sales figures. SPoT is also pleased to report that none of its Spotters, café managers, members of its management team or customers have reported any COVID-19 cases. Under the efficient management of SPoT's Chief Café Operations Officer, Brandon Sterner , SPoT's cafés are operating under the strictest sanitation guidelines and at maximum productivity.
"With more new SPoT locations opening for business, the Company has been continuously proving the resilience of its concept. The business model of the Company has endured the acid test of the COVID-19 pandemic and has exhibited the ability to grow its business even during these trying times." stated John Lorenzo , the Company's CEO and Chairman.
About Spot Coffee
Spot Coffee has been designing, building and operating company-owned and franchise community cafés in the northeastern United States for almost 25 years. Spot's cafés provide their customers with the highest quality service, signature made-to-order meals and award-winning micro-roasted coffee. Each Spot café is distinctively designed to suit the local neighbourhood creating a warm and friendly gathering place for the community. Spot's commercial business focuses on the sale of roasted coffee beans to food service and grocery chains, business offices, and resellers such as universities and hospitals.
We seek Safe Harbor.
Forward Looking Statements
Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
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. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company 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.
SOURCE Spot Coffee ( Canada ) Ltd.
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