SPoT Coffee Announces Tenth Cafe and Starts Expansion in to Upstate New York
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 02/02/12 -- SPOT COFFEE (CANADA) LTD. (TSX VENTURE: SPP) ("SPoT" or the "Company") is pleased to announce its tenth new cafe is to be ideally located in the centre of Saratoga Springs, New York ("SPoT Saratoga Springs"). This is the first of three planned locations that SPoT anticipates opening in this economically vibrant part of Upstate New York.
Located in Upstate New York, Saratoga Springs has transformed from a summertime tourist destination to a thriving year-round hot spot with a strong community population. The city attractions include the Saratoga Hot Springs, the Saratoga Race Course, as well home to both Empire State College and Skidmore College. Conveniently located just one block off Broadway, the central city street, SPoT Saratoga Springs is situated on a prime corner location in a new residential and commercial development. The new building will feature 124 residential apartments, access to ample parking spaces, and will be constructed by an award-winning builder. SPoT anticipates starting construction on this first Saratoga Springs cafe by early this Spring of 2012.
SPoT's first Saratoga Springs cafe is the Company's tenth cafe and SPoT strongly believes it will be able to exceed its previously announced target of opening three to four new cafes over the course of this year. In addition to more locations planned for Saratoga Springs, SPoT is currently actively reviewing and in discussion on several new locations in downtown Toronto, Ontario and in Western New York State. SPoT believes the market for quality locations that meet the Company's economic and demographic criteria continues to be highly favorable enabling a quicker pace of expansion. Furthermore, major real estate developers have been approaching SPoT for prime locations as they believe SPoT compliments and services the desired lifestyle of their developments.
SPoT Saratoga Springs, the Company's first cafe in this area, will highlight 2,460 square feet of space including 600 square feet of an indoor/outdoor atrium and additional outdoor patio space. The interior design will be aligned with SPoT's community-oriented cafe concept showcasing a unique wall sized mural capturing the culture of the surrounding community, dining and lounge style seating areas and a stage for live entertainment. SPoT's complete menu of gourmet food and specialty beverages will be offered including SPoT's famous Belgian waffles, freshly prepared gourmet pizzas, signature sandwiches, SPoT's own in-house roasted coffee and an assortment of freshly baked desserts and goods will be available.
Construction Update
As previously announced, SPoT's eighth cafe, SPoT Park Place, located in the new urban development of Concord Park Place in North Toronto, is on schedule to open. The building permit has been issued and construction has commenced. This cafe is expected to open this Spring of 2012.
SPoT's ninth cafe, SPoT Transit Road, located in the crossroads between the affluent neighborhoods of Clarence and Amherst, New York is also on schedule to open. Building permit issuance is in progress and construction is expected to start this month. This cafe is also expected to open late Spring of 2012.
The Company is progressing with the expansion of its gourmet coffee roasting facilities to service the growing number of SPoT cafes and expanding commercial account program. The expanded roastery facilities, which will now be featured as a showpiece in the Company's SPoT Delaware location, is anticipated to open during this March of 2012. Equally the re-location and expansion of the Company's central kitchen facilities to support SPoT's growing business is equally on track. SPoT anticipates opening its new, state-of-the-art open concept central kitchen facility with square footage of 2,250 late March of 2012. This facility will be located behind the Company's SPoT Hertel cafe in Western New York.
About SPoT
SPoT () designs, builds and operates community-oriented cafes that provide its customers from every lifestyle and culture with the highest quality service, signature light meals and in-house roasted gourmet coffee. The current SPoT management team and directors have been successfully operating company-owned cafes since 2004.
Each SPoT cafe is a popular and friendly gathering place for its community where specialty coffee, upscale beverages, fresh baked goods, signature sandwiches, soups, salads and gourmet pizza, cakes, pastries and home baked goods are offered and enjoyed by its patrons in a warm, friendly and home-like environment.
The Company currently operates seven cafes that range in size from 2,000 to in excess of 4,000 sq. ft. with three more cafes currently under development. Spot is currently evaluating several locations as part of its North American expansion.
Unlike other conventional gourmet coffee houses and quick service restaurants that are built on uniformity of product and style, each SPoT cafe maintains several unique and key features, including:
Forward Looking Statements
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. 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. Except as required by applicable securities requirements, the Corporation 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.
Contacts:
SPoT Coffee (Canada) Ltd.
Lindsay Cross
Investor Relations Manager
(416) 368-2220
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Datum: 02.02.2012 - 13:38 Uhr
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