Home Is FUNN a Huge Reopening Play Flying Under the Radar?

Is FUNN a Huge Reopening Play Flying Under the Radar?

We are beginning to move into a new era: The Post-Pandemic Era. 

There are naysayers and worry warts everywhere because it has paid to be a pessimist over the past 16 months. But the market for pessimism is drying up at a rapid pace in 2021 as we see best-case-scenario data paths for vaccinations, vaccine efficacy, hospitalization rates, and fiscal support. 

All of those factors have pushed the BofA Fund Manager Survey to an all-time high for economic expectations for the months ahead as the service economy begins to reopen in earnest.

For many small and mid-sized businesses that depend on foot traffic and a gathering of people in volume in indoor public spaces, this is extremely hopeful. Consumers have savings and are ready to unleash an historic wave of pent-up demand having fun out-and-about in their local markets.

One company positioned about as well as any for this coming rush of demand is Amfil Technologies, Inc. (OTCMKTS:FUNN). The company has operations in the entertainment/restaurant space, the cannabis space, and the landscaping space. However, according to a recent shareholder letter, the landscaping subsidiary is a long-term spin-off target, so the real strategic direction is a diversified model with operations in the entertainment/restaurant space and the cannabis dispensary market.

Of these two, the company’s main asset is its family fun board-game-themed café business operating under the brand, “Snakes and Lattes” – which is a play on words from the legendary classic game, Snakes and Ladders. You may have known it as Chutes and Ladders as a kid in the US, but it is far more established around the world as Snakes and Ladders.

Any way you slice it, the market for table-top gaming had been roaring as a very healthy, trendy niche market up until the Covid-19 pandemic health crisis. However, an entertainment restaurant and bar filled with happy people crowded over board games is a concept incompatible with a pandemic. 

With the advent of the reopening phase over coming weeks and months, FUNN may be a perfect stock to have on the radar.

We would also note that FUNN shares were 8x more valuable 4 years ago. The company has seen a 10x growth in revenues with limited shifts in share structure in the meantime (ahead of the pandemic), suggesting there’s a relatively easy operational value argument to make here as well as the big near-term growth story described above.

Symbol:  FUNN
Company:  Amfil Technologies, Inc.
Quote:  http://finance.yahoo.com/q?s=FUNN
Latest News:  http://finance.yahoo.com/q/h?s=FUNN+Headlines
Company Website: www.amfiltech.com

Who is FUNN

Amfil Technologies, Inc. (OTCMKTS:FUNN) engages in the acquisition and creation of income generating private companies and optimizing operations under the Amfil Technologies umbrella. It also seeks to achieve long-term financial returns consisting of regular dividend income, benefiting from preferential tax treatment, and expecting modest mid-to-long term capital growth. The company was founded on June 14, 1985 and is headquartered in Markham, Canada.


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 3 tabletop gaming bars and cafes located in Toronto, Ontario, 2 in Arizona (Tempe, Tucson) and 1 in Chicago, Illinois.  The company is in the process of expanding throughout North America. Snakes & Lattes Inc. was the first board game bar and cafe in North America, is believed to be the largest in the world and has the largest circulating public library of board games in North America for customers to choose from. For more information on Snakes & Lattes Inc. feel free to visit the website at www.snakesandlattes.com.

2)  FUNN Dispensaries, Inc. was incorporated as a Canadian Federal Corporation in January 2021. FUNN dispensaries is entering the Canadian cannabis dispensary market with its first dispensary expected to open by summer of 2021 and a goal of significant expansion throughout Canada.

3)  Interloc-Kings Inc. is a hardscape construction company servicing the Greater Toronto Area. This subsidiary is an authorized Unilock installer. Unilock is 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 become a top, high quality installation company of outdoor living areas in the GTA. 

Catalysts

Snakes and Lattes. The most recent key catalyst was the opening of the company’s 6th Snakes and Lattes location.

CEO, Rogen K. Chhabra, visited Snakes & Lattes ‘Tucson’ the weekend before soft opening. Final preparations were made to get all systems and equipment ready and complete staff training.

The CEO visited again for the Grand Opening on Friday, April 30th, 2021. 

“They have worked selflessly and tirelessly these past several months to make Snakes & Lattes Tucson not only a reality, but a showpiece for our brand. Our company is our people, and I am honored to lead such a dedicated staff,” said CEO Chhabra. “This 6th location marks a new milestone in our expansion efforts. It will be the tip of the iceberg for expansion as the world returns to normal post-pandemic times. We continue to learn with every new location, and work towards identifying, procuring, constructing, hiring and opening locations in a more efficient and less resource restricted process.”

Spin-off. Per the previous report: It was stated Amfil plans to spin off the Cannabis and Hardscaping sectors while Board Game Cafes and the board game manufacturing and distribution sectors stay together. Current strategy has altered this plan. The Snakes & Lattes brand has major synergistic opportunities with the new FUNN Dispensaries brand.

Interloc-Kings would be spun-off with all other subsidiaries and joint ventures.  We have completed a review of a spin-off with legal counsel. At this time, the costs significantly outweigh the benefits. Once up-listed to the OTCQB and resources are available to allocate, the plan to execute will be revisited.  Completion of a spin-off will absolutely remain on the roadmap to scale, it is simply a matter of priority at this time.

Audit/Uplist. Wipfli has been hired to audit FY19, FY20, and to review subsequent quarters for FY21 as necessary to apply for OTCQB uplist. Uplist can be processed by OTC Markets without an audit of FY21 so long as the FYE 2019 and FYE 2020 audits are completed and uplist applied for and approved before the end of September. The auditors have not yet provided a projected completion date. Our collective goal is to beat the FY21 deadline with the help of KSMB who is assisting as a liaison for submissions to Wipfli.  Either way, FY21 will be immediately audited after FY19/20 along with all future years as required by OTCQB.

CEO extension. “My initial agreement to be CEO was through the end of FY21.  Now that I have had an opportunity to examine the company in all aspects, I am even more invigorated about the potential for success; especially in the entertainment/restaurant and cannabis sectors.  Accordingly, I have begun having productive discussions with the board of directors to extend my contract beyond FY21 in a manner that will benefit the company and shareholders the most.  My intent is to ask for no cash and no new allocation of shares beyond the incentives for benchmarks that are already being accomplished.”

Dispensaries. 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.

FUNN will own 100% of the dispensaries opened under the agreement subject to Canadian government approval for its dispensary operator’s 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, and Successfully opening.

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 operator’s 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 operator’s 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. 

Technical Analysis

As growth catalysts mount for FUNN and the macro context improves due to reopening tailwinds, shares of the stock appear to be potentially technically poised for further upside:

About FUNN

FUNN (Amfil Technologies Inc) engages in the acquisition of income generating private companies and optimizing operations under the Amfil Technologies umbrella. It also seeks to achieve long-term financial returns consisting of regular dividend income, benefiting from preferential tax treatment, and expecting modest mid-to-long term capital growth. 

The company was founded on June 14, 1985 and is headquartered in Markham, Canada.


Key Points:

  • FUNN has operations in the cannabis and entertainment/restaurant markets, where Reopening presents major tailwinds
  • FUNN is making real money, with trailing revs already coming in at $3M.
  • FUNN is also angling for a significant uplist of shares
  • FUNN is coming off an RSI trough under 40, pointing to a massively oversold stock now heading back the other way.
  • FUNN just recorded a MACD Bullish reversal, suggesting a technical change in trend.


Conclusion

The reopening theme is huge for certain sectors, with entertainment/restaurant names at the top of the list. FUNN can be thought of in the Dave and Busters ilk, with huge dormant revenue potential ready to be unlocked as people prepare to resume normal social activity in public spaces with family and friends.

The level of pent-up demand out there for this type of activity shouldn’t be underestimated. 

We believe Snakes and Lattes has the potential to see explosive growth over coming months as a result. The fact that the company also has growing potential as a cannabis play gives this name powerful diversification in multiple growth markets.

We would also point out the potential synergies in the mix between these two models.

Technically, the stock appears potentially poised for big things ahead given its recent upside violation of the prior bear trendline. That normally carries implications. We also like the fact that the same trendline has already been successfully tested as key support.

Given the reopening theme in play across the market, FUNN is a potential mover in the making.

Recent Chart Activity

FEATURED NEWS

Toronto, ON, Sept. 02, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Amfil Technologies Inc. (OTC:FUNN) released the following statement today: This summer has seen a marked improvement in sales, with our Toronto locations improving revenues by 80% in the last five weeks. Tempe is up nearly 70% over 2019 (pre-pandemic) levels, and they had their first monthly revenue total that surpassed $200k. Kudos to Susan and the team for driving revenue growth through the pandemic, and as they fill out the t

TORONTO, ON, July 13, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Amfil Technologies, Inc. (OTC: FUNN) released the following statement today: We are happy to announce that we will be reopening our Toronto Snakes & Lattes locations following the announcement of Ontario beginning to allow indoor dining starting July 16, 2021. With upgraded game libraries, refreshed and expanded spaces for guests, and an overwhelming majority of our staff returning, we are excited to be back up and running! We wil

Toronto, ON, July 01, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Amfil Technologies Inc. (OTC: FUNN), has had tremendous quarterly success thanks to the continued efforts of our teams in Canada and the USA. In our Snakes & Lattes division, we are looking forward to opening our seventh and newest location in Guelph, Ontario this quarter, provided that Canada’s reopening continues at the current pace. We have opened Snakes & Lattes 'Tucson' to rave reviews since the last quarterly update. Interl

TORONTO, CANADA, June 15, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Amfil Technologies, Inc. (OTC: FUNN), which owns Snakes & Lattes board game cafes across North America, announces the hiring of its new Chief Operating Officer, Aaron McKay. McKay will support the company in executing its growth strategy and vision. “Aaron brings decades of restaurant and management experience to this role,” said Ben Castanie, Snakes & Lattes founder. “Aaron’s discipline and sense of organization coupled to a

ONTARIO, CANADA, April 20, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire ‒ Amfil Technologies Inc. (OTC: FUNN) provides the following update on the expansion of its Snakes & Lattes Inc. subsidiary. CEO, Rogen K. Chhabra, visited Snakes & Lattes ‘Tempe’ this past Thursday night and spent Friday and Saturday in Tucson. Final preparations were made to get all systems and equipment ready and complete staff training. All inspections have passed and Snakes & Lattes ‘Tucson’ will open at 5 PM today (April 20th, 2021). The link to our website with directions and initial operating hours can be found here: https://www.snakesandlattes.com/location/tucson/ The venue is located on University Blvd, just a few steps from the University of Arizona campus and within walking distance to the vibrant downtown Tucson. The official Grand Opening will be on Friday, April 30th, 2021. The CEO will be there to be part of this exciting moment for the Tucson community and for the shareholders of FUNN. If any shareholders would like to come meet the CEO, they are encouraged to reach out to rogen@snakesandlattes.com to coordinate. More importantly, shareholders will have the opportunity to meet the team that is making this brand so successful. “They have worked selflessly and tirelessly these past several months to make Snakes & Lattes Tucson not only a reality, but a showpiece for our brand. Our company is our people, and I am honored to lead such a dedicated staff,” said CEO Rogen Chhabra. Mr. Chhabra continued, “This 6th location marks a new milestone in our expansion efforts. It will be the tip of the iceberg for expansion as the world returns to normal post-pandemic times. We continue to learn with every new location, and work towards identifying, procuring, constructing, hiring and opening locations in a more efficient and less resource restricted process.” Anyone with information on suitable locations to continue expanding is encouraged to reach out. We look forward to serving the communities where we are currently located, as well as all the additional communities we plan to bring Snakes & Lattes to and serve in the future. About Snakes & Lattes Inc. For further updates from the Snakes & Lattes and its parent company, Amfil Technologies Inc. please follow us on Twitter @AmfilTech For more information regarding the company, and its related subsidiaries please visit the following websites: Amfil Technologies Inc. www.amfiltech.com Snakes & Lattes Inc. www.snakesandlattes.com Interloc-Kings Inc. http://www.interloc-kings.com 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 3 tabletop gaming bars and cafes located in Toronto, Ontario, 2 in Arizona (Tempe, Tucson) and 1 in Chicago, Illinois. The company is in the process of expanding throughout North America. Snakes & Lattes Inc. was the first board game bar and cafe in North America, is believed to be the largest in the world and has the largest circulating public library of board games in North America for customers to choose from. For more information on Snakes & Lattes Inc. feel free to visit the website at www.snakesandlattes.com. 2). FUNN DIspensaries, Inc. was incorporated as a Canadian Federal Corporation in January 2021. FUNN dispensaries is entering the Canadian cannabis dispensary market with its first dispensary expected to open by summer of 2021 and a goal of significant expansion throughout Canada. 3). Interloc-Kings Inc. is a hardscape construction company servicing the Greater Toronto Area. This subsidiary is an authorized Unilock installer. Unilock is 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 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,", "will", "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:Rogen Chhabra, CEOAmfil Technologies Inc.Corporate Telephone: 601-904-FUNNDirect telephone: (601) 326 0805Email: rogen@snakesandlattes.comOrBen CastanieSnakes & Lattes Inc.Telephone: (416) 500 2911Email: ben@snakesandlattes.com

ONTARIO, CANADA, March 29, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Amfil Technologies, Inc. (OTC: FUNN) provides the following shareholder update: The past few months have seen an incredibly positive shift in the company due to several factors. First and foremost, the Covid vaccine rollout is making a big difference. This has allowed the re-opening of our US locations and we anticipate Canada will follow suit shortly. Revenue continues to quickly improve with the re-openings, and we have no shortage of customers. Executing to the plan previously laid out, we are focusing resources in the most critical areas; reducing overhead, running leaner and positioning FUNN for scale and success beyond all previous metrics. Summary of Key Accomplishments since December CEO report: Continued resolving, restructuring and eliminating debts without incurring offsetting / new obligations. Eliminated a large amount of the accruing interest with convertible noteholders. Hired an accounting firm to be a liaison for the FY19 and FY20 Audits. Established FUNN Dispensaries, Inc. as a Canadian Federal corporation. Completed construction of Snakes & Lattes Tucson. The venue will be open shortly after inspections are complete. Completed Snakes & Lattes Tempe outdoor seating area expansion. Navigated Snakes & Lattes Tempe to all time record revenues with continued upward momentum. Re-opened Snakes & Lattes Chicago with revenue trending in the right direction. Maintained a near zero cash burn rate. Established weekly management conference calls for open and under construction venues. CEO interviewed by Wall Street Analyzer at their request. Increasing market visibility and at no cost to Amfil. Communication Communication remains consistent, concise, and candid. The strategy has been simple: reports have been issued publicly only when tasks are complete or information reliable. Calls and emails from shareholders have been responded to with a sense of duty and urgency and with respect to Regulation Fair Disclosure. All communications with vendors, partners, and even creditors have been timely to gain trust and better position the company in negotiations. We have received positive feedback regarding the cadence and format of this Quarterly CEO update. Shareholders can expect this report to be issued approximately every 90 days as an anchor point for comprehensive information of the company's ongoings. Other pertinent news will be released as needed, required, or available. This report ensures shareholders maintain insight to the big picture. Audit/Uplist Wipfli has been hired to audit FY19, FY20, and to review subsequent quarters for FY21 as necessary to apply for OTCQB uplist. Uplist can be processed by OTC Markets without an audit of FY21 so long as the FYE 2019 and FYE 2020 audits are completed and uplist applied for and approved before the end of September. The auditors have not yet provided a projected completion date. Our collective goal is to beat the FY21 deadline with the help of KSMB who is assisting as a liaison for submissions to Wipfli. Either way, FY21 will be immediately audited after FY19/20 along with all future years as required by OTCQB. The solution to expedite the audit: Internally audit our books to ensure all outstanding items are reconciled and well supported by documentation - this is complete. Work with accounting firm KSMB to review our internal audit and prepare submission to auditors - this is well underway and should be complete within weeks. Obtain a projected completion date from auditors. This will be announced when we have reasonable certainty that the projection is reliable and aided by the work we put in on the front end. Evaluations of all subsidiaries and initiatives: Snakes & Lattes Tempe - The venue is now operating at 100% capacity and consistently beating pre-covid revenues on a regular basis. Even with daily, weekly and monthly revenues at all time highs, the venue continues to increase earnings week over week. Seating capacity is being further increased as allowed by lowered covid restrictions.This past week, the Governor of Arizona signed an Order lifting Covid restrictions and allowing restaurants and bars to get back to normal operations. We are still providing a safe and social distanced environment due in part to expanded outdoor space. Government loan PPP1 has been forgiven, and that debt will come off the books in the next quarterly financial report. Loan PPP2 was applied for and granted, putting the venue and the company as a whole in a better leverage position to put employees back to work. Tucson - Construction for the buildout is complete. All equipment is in. We are waiting on some additional smallwares and pending final building and health department inspections. Management and staff have been hired and trained. The City of Tucson has issued our business license for opening. The venue will open officially within days after all required inspections passed. A grand opening date will be announced after a soft opening. All shareholders will be invited to meet the CEO in person at the grand opening. Chicago - The venue is open at 50% capacity per state and local regulations. All licenses with appropriate agencies have been transferred to our ownership, and the liquor licenses with the state and city have been extended. Once Snakes & Lattes Tucson is open, the project manager will head to Chicago to oversee transition to 100% capacity and assist in maximizing revenue for the venue. When the transition is complete a grand opening date will be announced, and shareholders will have another opportunity to meet the CEO in person. The purchase of the venue in September of 2020 was primarily for stock in Amfil. Snakes & Lattes Chicago provides a prime opportunity for the Snakes & Lattes brand to grow while allowing Amfil to maintain a strategic advantage with cash flow. The outlook for Snakes & Lattes Chicago is getting stronger every day. Many groups have booked reservations for our private dining rooms in the coming weeks. We are still partnered with Community Kitchen and High Roads Kitchen to serve 475 meals per week. Our main dining room continues to gain traction as customer demand quickly fills allowed capacity. We are excited for the continued growth for Chicago moving forward. Guelph - Construction is 75% complete. The venue will be open when Canadian lockdowns are lifted and final licensing and permitting is in place. A date will be given as soon as we have one with confidence. Midtown, Annex, and College - Toronto is working towards re-opening. In-room dining is still not allowed, but we are optimistic that we will have successful re-openings of these locations as soon as permitted by the government authorities. Customer engagement, connection, and retention remains a priority for management in these venues to stay active within the community. As the other locations have shown, pent up demand is strong and we are confident the locations will thrive again once re-opened. Cannabis Dispensaries - We have made significant progress towards opening FUNN’s first cannabis dispensary at 10 Dunlop Drive, St. Catharines, in the greater Toronto area. Since the last report FUNN has: Applied for the dispensary operator license transfer from Tokin Applied for a new dispensary operator license directly for FUNN Dispensaries, Inc. Transferred and signed a lease for the first fully funded location Began construction An opening date will be made public pending transfer/acquisition of the dispensary operator license. Space for a second location has already been secured and will move forward pending completion of the first location. Negotiations have begun for additional locations, but are in the preliminary stage and too early to report meaningful progress. Interloc-Kings Interloc-Kings continues to operate in the hardscaping and snow-plow business. It continues to generate consistent moderate revenue. It is self sustaining, and requires little effort from the corporate side. Initiatives for opportunities and growth will not be prioritized until after the planned spin-off is complete. Snakes & Lattes USA expansion While we are on the look-out for opportunities to pick up space and establish more corporate owned venues, the number one priority is to open all current cafes to 100% capacity. Once revenue is stable and in excess of 8 figures again, we will immediately switch focus to scale. That said, we have had discussions with existing board game cafes as possible future expansion targets. If the right opportunity presents itself without sacrificing resources needed for existing venues, we will follow through and report publicly at that time. Franchising While franchising may be a strategic initiative in the future, we are going to maintain our focus on building brand strength with corporate owned locations. Even when the audits and uplist to the OTCQB are complete, the focus will remain on corporate locations unless franchising is deemed strategically beneficial for the next phase of growth for Snakes & Lattes. Spin-off Per the previous report: It was stated Amfil plans to spin off the Cannabis and Hardscaping sectors while Board Game Cafes and the board game manufacturing and distribution sectors stay together. Current strategy has altered this plan. The Snakes & Lattes brand has major synergistic opportunities with the new FUNN Dispensaries brand. Interloc-Kings would be spun-off with all other subsidiaries and joint ventures. We have completed a review of a spin-off with legal counsel. At this time, the costs significantly outweigh the benefits. Once up-listed to the OTCQB and resources are available to allocate, the plan to execute will be revisited. Completion of a spin-off will absolutely remain on the roadmap to scale, it is simply a matter of priority at this time. Initiatives that will remain on hold: Morning - Operations for this division are cash intensive and currently not the best use of our critical resources. Amfil will avoid further financial obligations that are not likely to return a profit with respect to this subsidiary. Per our last report, there may still be a viable future to propel Morning forward, but this will not be considered until all current cafes are open with stable revenue. Board Game Sales - ‘Kill the Unicorns’ and ‘Red Panda’ are listed on the Loblaws and Wal-Mart websites. We will sell our remaining inventory of those games. Moving forward, the economic pros are outweighed by the resource cons of listing new titles or fulfilling any new purchase orders. SAS Publishing and the logistics efforts are not time or money well spent as compared to the booming cafe and dispensary potential. Gro3 The Gro3 joint venture with Advanced Ozone Integration, Inc and Amfil is not strategically suited for the new direction and growth of our company. No money has been spent on this project since the last CEO report as resources can be better allocated for far more likely profit generators. Overall Company considerations: Revenue and Debt Amfil was generating more than $10 Million in annual revenue prior to COVID restrictions. While we expect to meet and exceed those numbers as the restrictions are lifted, it is difficult to realistically evaluate and make a plan going forward until all current and planned venues are open and running at 100% capacity. One good sign is that our cash burn rate is now close to zero. We have spent no new funds and issued no new shares for initiatives that have not proven to be capable of meaningful profit potential. In the meantime, steps have been taken to negotiate debt to work for the company in a healthy manner as we transition towards an exciting fiscal 2022 and beyond. The FY21 Q3 report due by May 15 will reflect revenue improvement and debt control efforts. The debt reduction plan is: Avoid incurring additional debt that is unlikely to produce a profit - this has already been a priority the last 90 days Work with long convertible noteholders to convert so we can avoid further interest - we have already made significant progress on this Negotiate as many of the smaller debts by compromise with cash on hand - many of these have already been completed Lower current interest rates by refinancing where possible Tackle larger and longer term debts as profit continues to grow CEO Moving forward past FY21 My initial agreement to be CEO was through the end of FY21. Now that I have had an opportunity to examine the company in all aspects, I am even more invigorated about the potential for success; especially in the entertainment/restaurant and cannabis sectors. Accordingly, I have begun having productive discussions with the board of directors to extend my contract beyond FY21 in a manner that will benefit the company and shareholders the most. My intent is to ask for no cash and no new allocation of shares beyond the incentives for benchmarks that are already being accomplished. Shareholder Conference calls Thus far, information has been reported as accurately and fully through public releases as available. Shareholder conference calls are still planned, but after all venues have opened. Until then, conference calls would not be meaningfully helpful to the company or its shareholders as we could not reliably address revenue and profit targets. As CEO, this is something that I personally very much want to do on a regular basis. Once the time is right, I believe it will be significantly beneficial for shareholders to get additional answers about all things FUNN. Significant Questions that have been posed to me by shareholders: Do we intend to expand our Cannabis sector in the US market? Yes. Opportunities have already been presented to us on the grow side. We are currently assessing each one. Dispensing in the US is also on our radar. We have to be realistic about how disjointed each state and the Federal government are in this industry. Banking is also a major issue, but we are hopeful Congress is on the precipice of passing meaningful legislation to put us in a position to be competitive in this market. How can people get involved in opening new locations? This is doable, and we welcome discussions. If you have identified a location in a high traffic well populated area that meets our criteria, preferably an existing board game cafe or restaurant that already has the equipment, grease trap, bar and seating to minimize the cost of expansion, please reach out to me at rogen@snakesandlattes.com or 601-326-0805 so we can discuss. While our primary focus is on existing locations, we do not want to miss any expansion opportunities at this time. How is my working relationship with Roger Mortimer, Ben Castanie, and Larry Leverton? It is excellent. Roger has significant institutional knowledge about the company and OTCMarkets dating back to the 80’s when this company started. Ben was the initial founder of the vision for Snakes & Lattes. He has been handling the accounting and books since merging with Amfil. Larry is intimately familiar with our stock transfer agent and many other aspects of being publicly traded. All three of them have been more than helpful in passing along the benefit of their knowledge and experience to put me in the best possible position to move this company forward. Most importantly, they have given me free reign and discretion to make the final decisions on anything involving Amfil and its subsidiaries. Their full support has been much appreciated. How are we doing on updating and streamlining bookkeeping and accounting procedures? We have come a long way in the last three months with the help of KSMB and with regular conference calls to improve our logistics and operations. There is more work to be done. This has been one of our weakest areas in the past, and that weakness was directly attributable to how long the FY17 and FY18 audits took. Strengthening these processes is ongoing and is likely to lead to a much smoother audit process for FY19, FY20 and beyond. How is the cash flow situation going? Obviously, the pandemic dealt a blow to all businesses operating in the entertainment and restaurant industries. Fortunately, we are on a significant revenue uptrend since FY21 Q1. We are doing all we can to maximize stimulus while not incurring, and in fact, reducing our debt. The last quarter before the pandemic began showed a profit, and we can see post pandemic profitability being even greater. We can do this while we provide a superior experience to our customers which is a key aspect for repeat business and brand loyalty. Are we going to hire a PR company? Not right now. I want the company to be in a stronger post pandemic cash flow and financial position before we allocate additional resources for PR. But when the time is right, I will certainly reconsider this position. This is the same for marketing. Re-opening Tempe and Chicago locations has shown strong customer demand, so capacity is more of an issue than reach. Once we have a larger location base and ready to move to the next level in scale, certainly such resources will move up in priority. Additionally, hiring a PR firm will be more strategically optimal if it coincides with the audit and uplist when we can achieve broader visibility in the market. Final Note I continue to remain positive about the trajectory of FUNN. I am most grateful for the dedication of our management and staff who have worked tirelessly in the midst of a pandemic. They ensure our returning loyal customers and new ones receive the best possible service for a quality experience. Their hard work has quickly returned Snakes and Lattes Tempe to a profitable status. If Snakes & Lattes Tempe is any indicator of what other venues can achieve; the next year is going to be very bright for that sector of our business. I am also excited about the opportunity to enter the Cannabis market in a meaningful way where good margins are expected and growth can be executed. Financials, bookkeeping, and accounting have all seen significant improvements in the last quarter, and we are in a continuous improvement mode. These efforts lead to timely reporting and remaining current with OTCMarkets. Going forward, I do not expect to have the same issues that we previously encountered. I remain accessible by email or phone, and continue to hold myself accountable for decisions I make; especially as my optimism increases. About Snakes & Lattes Inc. For further updates from the Snakes & Lattes and its parent company, Amfil Technologies, Inc. please follow us on Twitter @AmfilTech For more information regarding the company, and its related subsidiaries please visit the following websites: Amfil Technologies, Inc. www.amfiltech.com Snakes & Lattes Inc. www.snakesandlattes.com Interloc-Kings Inc. http://www.interloc-kings.com 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 3 tabletop gaming bars and cafes located in Toronto, Ontario and 1 in Tempe, Arizona and 1 in Chicago, Illinois. The company is in the process of expanding throughout North America. Snakes & Lattes Inc. was the first board game bar and cafe in North America, is believed to be the largest in the world and has the largest circulating public library of board games in North America for customers to choose from. For more information on Snakes & Lattes Inc. feel free to visit the website at www.snakesandlattes.com. 2). FUNN DIspensaries, Inc. was incorporated as a Canadian Federal Corporation in January 2021. FUNN dispensaries is entering the Canadian cannabis dispensary market with its first dispensary expected to open by summer of 2021 and a goal of significant expansion throughout Canada. 3). Interloc-Kings Inc. is a hardscape construction company servicing the Greater Toronto Area. This subsidiary is an authorized Unilock installer. Unilock is 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 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,", "will", "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:Rogen Chhabra, CEOAmfil Technologies, Inc.Corporate Telephone: 601-904-FUNNDirect telephone: (601) 326 0805Email: rogen@snakesandlattes.comOrBen CastanieSnakes & Lattes Inc.Telephone: (416) 500 2911Email: ben@snakesandlattes.com

Toronto, ON, Feb. 24, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- 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 operator’s license. Berkovits will be paid a service fee for each location he provides assistance in: Securing fundingSecuring locationCompleting buildoutObtaining necessary permits and licensesStocking location with productHiring and training staffSuccessfully 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 operator’s 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 operator’s 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. About Us: Amfil Technologies Inc. is the parent company to four wholly owned subsidiaries. 1). Snakes & Lagers Inc. holds the trade name and is the owner of Snakes & Lattes Inc. which currently operates 5 tabletop gaming bars and cafes located in Toronto, Chicago and Tempe. Two new locations are slated to open in the near future in Tucson and Guelph. The company intends to expand further throughout North America. Snakes & Lattes Inc. was the first board game bar and cafe in North America and is believed to be the largest in the world and has the largest circulating public library of board games in North America for customers to choose from. For more information on Snakes & Lattes Inc., visit our website at www.snakesandlattes.com. 2). The EcoPr03 GRO3 Antimicrobial System was jointly developed between Amfil Tech and A.C.T.S. Inc. which 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 passed product review by a registered USDA certifying agent for use in California as well as Pennsylvania and surrounding states. The subsidiary has developed a strategic partnership with Roto Gro, the creator of proprietary rotary hydroponic technology. More information on this product line can be found at www.gro3systems.com 3). Interloc-Kings Inc. is a hardscape construction company servicing the Greater Toronto Area. This subsidiary is an authorized Unilock installer. Unilock is 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 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 4). FUNN Dispensaries, Inc. is a wholly owned subsidiary of Amfil Technologies, Inc. The company is in the process of opening retail cannabis dispensaries starting with locations in the Greater Toronto area. FUNN is aided with the consulting help of experienced and licensed cannabis dispensary operator, David Berkovits, to create and manage operations for the Company’s new cannabis dispensary division. 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,", "will", "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: Rogen Chhabra, CEO Amfil Technologies Inc. Corporate Telephone: 601-904-FUNN Direct telephone: (601) 326 0805 Email: rogen@snakesandlattes.com Or Ben Castanie Snakes & Lattes Inc. Telephone: (416) 500 2911 Email: ben@snakesandlattes.com

TORONTO, ON, Dec. 28, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire \-- Amfil Technologies, Inc. (OTC: FUNN) is pleased to provide the following shareholder update.Per the previous shareholder update, this assessment constitutes the stated report to be given for the first 30 days of the CEO transition plan. It has been an incredibly active month; reviewing initiatives, projects, financials, meetings with contractors, auditors, and all levels of staff.  While this report will give a comprehensive overview of the current trajectory for Amfil, certainly some areas will still need more review and strategic thought. Shareholders can expect continued communication in future reports. First 30 day Key Accomplishments  * 2021 Q1 filed with attorney opinion letter on compliance * Listed as Pink Current with OTCMarkets * Restructured a portion of debts with favorable terms and negotiated interest free forbearances on another portion * Signed engagement letter with Wipfli LLP accounting firm for FY 2019 and FY 2020 audits * Negotiating the terms of the first dispensary operation buildout * Hired a project manager to facilitate the opening of Tucson as expeditiously as possible.  The new manager will be on sight full time after the first of the year * Site visit to Tempe to as part of continuous improvement within operations * Fulfilled prizes to contest winners just in time for the holidays * Increased authorized shares to be compliant with obligations * Listed in house published games on Loblaws and Walmart websites * Initial review of all Amfil projects and initiatives for strategic assessment * Comprehensive review with all levels of staff for 360 feedback on company CommunicationRecognizing, establishing and maintaining shareholder confidence is an important facet for investor relations, I have responded as promptly as time allows to anyone that has reached out by email or by phone. While one can expect a certain allowance for confidence as a new CEO; maintaining it can only be accomplished through consistency over time. This initial 30-day assessment provides the first data point for follow through in communications going forward. The intention is to set the tone for shareholders' expectations as I continue to lead Amfil as its new CEO.  Audit/UplistCertainly, completion of audits and subsequent uplist is paramount to Amfil’s continued growth and future success. To that end, I have signed an engagement letter with Wipfli LLP accounting firm to perform the FY 2019 and FY 2020 audits.  Wipfli has 2400 associates in 48 offices spanning across North America and around the world.  They are a top 20 auditing firm in the US.  (https://www.wipfli.com/) Realistic discussions have occurred regarding timing of completion.  The firm has requested supporting financial and other documents.  A conference call is scheduled for the first week of January for the firm to assess the scope and expected timeframe of the project.  As soon as a reliable projected completion date can be provided, it will be made publicly known.  When the audit is complete we will proceed with the process for uplisting to the OTCQB.  We are excited to have reached an agreement with such a robust accounting firm as we move Amfil to the next and much more appropriate tier in the OTC Marketplace.Evaluations of all subsidiaries and initiativesSnakes & Lattes‘Tempe’ - The venue is operating at 50% of capacity based on COVID restrictions.  Revenue has been higher than 50% of pre-covid numbers. To improve the opportunity, we have been granted a permit to expand our outside seating to hold an additional 30 customers, and we have successfully secured a grant to build the outdoor space.  Measures have been taken to scale back labor costs in proportion to what is required to meet the current demand.  ‘Tempe’ is the first Snakes & Lattes in the USA and has proven to be a good model for continued expansion.  It has also shown us places where improvement is required in bookkeeping and accounting practices to stay consistent with all other venues.  Those improvements are being implemented.  Tempe also received a PPP loan and used the proceeds according to guidelines required for forgiveness.  A forgiveness request has been submitted and is expected to be approved in the near future.‘Tucson’ - A target date of March 15, 2021 has been set for opening. This is based on current projection for finishing construction, training staff, and finalizing permitting.  If new information provides a necessary adjustment to the target, it will be reported in real time accordingly. A full time project manager will be on site from the first week of January until it is complete.  A grand opening date will be announced in due course.‘Guelph’ - Construction is proceeding.  No opening date will be announced at this time, but shareholders can expect significant progress before the 3 month assessment report in March.‘Chicago’, ‘Midtown’, ‘Annex’, and ‘College’ - all are temporarily closed except for takeout as a result of COVID 19 restrictions.  Management in each location is engaging with customers through online trivia and other means to retain customer attention in preparation for reopening. Amfil purchased the assets of Gaming Cafe, LLC in Chicago and continues to operate under and with full ownership of that entity.  In due course, we will make any adjustments when necessary on the corporate structure for that entity.   A grand opening announcement will be given for ‘Chicago’ as soon as practically possible after reopening and operating at 100% capacity.  Morning - Amfil purchased assets of morning in 2018 with the intent of vertical integration in the board game space to create synergy with the Snakes & Lattes boardgame cafes.  While there has been some success within international markets for our initial game board offerings, Morning has not proven to be the desired profit generator to date.  There may be a viable future for Morning, but priority attention should be placed on Snakes & Lattes cafes that have proven to be able to generate significant revenues.  Morning and other vertical integration efforts will be revisited after the cafes are stabilized in terms of revenue.Loblaws - Our in house titles of ‘Kill the Unicorns’ and ‘Red Panda’ are listed on Loblaws’ website.  The agreement to list 300+ new titles with Loblaws will be revisited during 2021.Wal-Mart - Our in house titles are listed for sale on their website.  Any additional negotiations for negotiating and fulfilling a purchase order will be revisited in 2021 after the board game cafes stabilize post COVID restrictions.Gro3The Gro3 product is the result of a joint venture between Advanced Ozone Integration, Inc and Amfil to manufacture and distribute air cleaning and water purification technology for indoor and outdoor grow operations in the Cannabis sector.  To date, three units have been purchased and installed. While these units have proven the efficacy of the product and have greatly satisfied customer expectations, recent discussions have been had between the companies to determine the best way to proceed.  At this time, I do not have enough information to predict the outcome of the initiative.  Additional reports on this venture will be reported in 2021 as time for continued assessment and strategic thought must be given.  Dispensaries An agreement was struck in August 2020 with highly accomplished cannabis dispensary entrepreneur David Berkovitz and Tokin Dispensaries Inc. to open Kiosks/Dispensaries in the Greater Toronto Area.  The first location has already been secured.  David and I are negotiating the terms of the first buildout which will likely become the central hub of our dispensary operation. Long term we have a goal to open many more; including kiosks adjacent to current Snakes & Lattes locations. We also plan to open them adjacent to Ontario convenience store locations with another company with whom we have a working relationship. The business model is very promising in that each location will require relatively small square footage and low labor costs with a high expected margin on the products sold.  David Berkovitz, Tokin and Amfil are incentivized to move this project forward and excited about the prospects of what is to come. Progress on this initiative will be reported within the planned March 3 month assessment.Interloc Kings Interloc Kings continues to operate in the hardscaping and snowplow business. It continues to generate consistent moderate revenue. It is self sustaining, and requires little effort from the corporate side. Initiatives for opportunities and growth will not be prioritized until after the planned spin-off is complete.  USA expansion teamFrom January 18, 2020 to November 25, 2020My previous role with Amfil was Head of USA Expansion from January 18, 2020 until I was named CEO.  In the month and a half before the world locked down due to the pandemic, I had traveled for site inspections and made progress with LOI’s being negotiated across Denver, Los Angeles, New Orleans, and had many other potential venues in the works.  The unknown variables spawned by COVID in early March made it far more difficult for landlords to entertain negotiations and for joint venture partners to invest in our entertainment concept. Expansion was certainly not scrapped; but travel became difficult, and the progress was unavoidably slow. Although my agreement called for compensation only in terms of a successful expansion, my efforts were shifted to helping Amfil uncompensated in any way I could. This included but was not limited to:  * Securing PPP funds for Tempe * Helping Morning with relief assistance from the French government * Successfully seeking rent abatements in Tucson and Tempe * Negotiating debt relief with various creditors. USA Expansion from now and moving forwardWith COVID uncertainties beginning to settle, I expect opportunities in 2021 to pick up space and get venues open that we positively know the public is craving.  But we should not rush or overextend ourselves.  Expansion must happen, but we will first focus priorities on maintaining a balance to get all existing and planned locations open and profitable.Franchising Future franchising has the potential to be an incredible and unprecedented growth opportunity. However, before we can consider franchising, the audit and uplist must be completed. Even post audit and uplist while franchising might be a chosen route, we will assess franchising prospects at that time. The assessment will compare that path to the alternative moving forward with continued 100% corporate ownership of all locations. The option most beneficial for Amfil and its shareholders will be the path taken.Spin-offAmfil plans to spin off the Cannabis and Hardscaping sectors with Board Game Cafes and board game manufacturing and distribution sectors to stay together and benefit from vertical integration.  Shareholders will receive proportional shares of the new company and benefit from the value expected from the spin-off. As completion of a spin-off is critical for institutional investment and the growth of Snakes and Lattes operations, it is absolutely on the road map. That said, there is no current timeframe for the spin-off.  Many discussions and much work needs to occur first to accomplish this mission. The progress towards the goal will be reported in future assessments, but a target date will not be given until it has moved from the horizon to the forefront. Rest assured we are marching towards the horizon.Revenue and DebtAmfil was generating a 10 figure annual revenue prior to COVID restrictions. While we expect to meet and exceed those numbers as the restrictions are lifted, it is difficult to realistically evaluate and make a plan going forward until all current and planned venues are open and running at 100% capacity.  In the meantime, I have taken steps to negotiate debt to work for the company in a healthy manner as we transition towards an exciting fiscal 2022 with even more enthusiasm for fiscal year 2023 and beyond.Employee / Partner feedback I believe in the collective knowledge of our workforce. The folks running the day to day operations possess much insight and wisdom of what is happening in the trenches, and can often be the greatest source of information in the spirit of continuous improvement. I have reached out to as many staff members as I can, and plan to make it part of my regular due diligence to maintain an open line of communications for the overall betterment of the company.What is truly heartening, is that I have been overwhelmed with the positive reaction of managers, employees and joint venture partners falling under the Amfil umbrella. Their passion for our brands are unmatched, and I am excited for a promising future with our team.Items not considered for further developmentWhile none of these listed entities should be new news for shareholders, the goal of this report was to be comprehensive and give a complete view of all companies' current and previous projects. NSI - The agreement was made approximately 3 years ago between Natural Stuff and Amfil is null. It will not be a focus for 2021 and there are no plans to revisit this agreement. It is critical Amfil pursues other endeavours more likely to generate revenue and return a profit.Ku Kum - While we certainly wish Chef Joseph Shawana much success in all his culinary endeavors, the partnership established in 2017 between Ku Kum and Amfil is null at this time with no intent to revisit.  Amfil needs to focus all critical resources and effort into the most profitable channels to maximize our future growth and success.Guyana Mining licenses - There has been no pursuit for years and no current or future intent to pursue any further mining.  Company time and resources are better spent on our board game cafe, cannabis, and hardscaping sectors.Final noteWhile the intention of this report is to give a comprehensive overview of all current projects, there is so much going on with Amfil I am sure there are unanswered questions. As previously mentioned in my first update, shareholder conference calls are needed. This will be a 2021 calendar year initiative,  I will establish such a plan and report in the 3 month March assessment. I expect to fill in more details as we see where we are with COVID and all other initiatives. Between now and the next assessment, shareholders can expect to receive news on any pertinent items, via Twitter or newswires. Those communications have their own frequency and we will make no specific announcements prior to release. The purpose of the next March assessment is to provide a quarterly update cadence that can be relied upon for all company on-goings. Right now, execution is critical and the top priority. I am incredibly encouraged by what I’ve seen thus far, and the prospects for the future of the company are very bright and real. It is clear we have a lot of work before us; but our company and brand is strong, energizing and capable. I am truly filled with excitement and optimism for the future of Amfil. In the meantime, I will continue to hold myself accountable to shareholders for the plan I have laid out. My best efforts will be toward improving all aspects of Amfil for the benefit of all stakeholders (Shareholders and Amfil employees) through consistency of execution and communication. As always, I will remain accessible as best possible via email and phone.About Snakes & LattesFor further updates from the Snakes & Lattes and its parent company, Amfil Technologies Inc please follow us on Twitter @AmfilTechFor more information regarding the company, and its related subsidiaries please visit the following websites:Amfil Technologies Inc. www.amfiltech.comSnakes & Lattes Inc. www.snakesandlattes.comMorning (Snakes & Lattes Publishing SAS) https://www.morning.usGRO3 Joint Venture http://gro3systems.comInterloc-Kings Inc. http://www.interloc-kings.comAbout 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 3 tabletop gaming bars and cafes located in Toronto, Ontario and 1 in Tempe, Arizona. The company is in the process of expanding throughout North America. Snakes & Lattes Inc. was the first board game bar and cafe in North America, is believed to be the largest in the world and has the largest circulating public library of board games in North America for customers to choose from.  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 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 passed product review by a registered USDA certifying agent for use in California as well as Pennsylvania and surrounding states. The subsidiary has developed a strategic partnership with Roto Gro, the creator of proprietary rotary hydroponic technology. More information on this product line can be found at www.gro3systems.com3). Interloc-Kings Inc. is a hardscape construction company servicing the Greater Toronto Area. This subsidiary is an authorized Unilock installer. Unilock is 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 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.comSafe Harbor StatementThis 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,", "will", "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:Rogen Chhabra, CEO Amfil Technologies Inc. Telephone: (601) 326 0805 Email: rogen@snakesandlattes.com Or Ben Castanie Snakes & Lattes Inc. Telephone: (416) 500 2911 Email: ben@snakesandlattes.com

25 Nov, 2020 @ 13:00 by Yahoo! Finance

Toronto, ON, Nov. 25, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire \-- Amfil Technologies Inc. (OTC: FUNN) has hired Rogen K. Chhabra as its new CEO.  Rogen’s background is primarily in law and running successful businesses.  His business acumen is just what the company needs right now to get to the next level. Rogen’s primary responsibility will be to oversee the Snakes & Lattes Inc. subsidiary, however he will also have oversight responsibility for all aspects of the company as we prepare for what is to come.  This will allow Ben Castanie to focus on the restaurant operations, which has proven to be a great use of his talents, and it will allow Roger Mortimer to maximize his best attributes working on the outdoor and cannabis sectors.Major goals for Rogen are to: * Communicate with existing and prospective shareholders * Growth with focus on efficiency and maximizing revenue * Validating and streamlining company financesTo achieve these goals, Rogen has been tasked to get things done that have been proven difficult so far.  These include but are not limited to getting current on reporting, getting audits up to date, uplisting, and spin off of Interloc Kings Inc., Gro3 and other subsidiary sectors that are not a part of the Snakes & Lattes Inc. brand.Rogen had been announced earlier this year as head of the USA expansion team.  He made significant progress in a short period of time before COVID necessarily required a pause.  But that did not stop Rogen from assisting the company in the background in a variety of ways.  Those within the company were impressed with Rogen’s seeming endless ability to get things done, even when he was not getting anything in return.Management welcomes Rogen aboard, and we look forward to his leadership to take us to the next level.Stay tuned for more updates coming soon.About Snakes & LattesFor further updates from the Snakes & Lattes and its parent company, Amfil Technologies Inc please follow us on Twitter @AmfilTechFor more information regarding the company, and its related subsidiaries please visit the following websites:Amfil Technologies Inc. www.amfiltech.comSnakes & Lattes Inc. www.snakesandlattes.comMorning (Snakes & Lattes Publishing SAS) https://www.morning.usGRO3 Joint Venture http://gro3systems.comInterloc-Kings Inc. http://www.interloc-kings.comAbout 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 3 tabletop gaming bars and cafes located in Toronto, Ontario and 1 in Tempe, Arizona. The company is in the process of expanding throughout North America. Snakes & Lattes Inc. was the first board game bar and cafe in North America, is believed to be the largest in the world and has the largest circulating public library of board games in North America for customers to choose from. Snakes & Lattes Inc. currently has a 100+ member staff and recently acquired the exclusive distribution rights throughout Canada for some of the most popular board games in the world. The company also operates a lucrative fulfillment and distribution division and has recently entered into the board game publishing business through the acquisition of Morning which is expected to add significant revenues to the bottom line. For more information on Snakes & Lattes Inc. feel free to visit the website at www.snakesandlattes.com2). 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. The subsidiary has developed a strategic partnership with Roto Gro, the creator of proprietary rotary hydroponic technology. More information on this product line can be found at www.gro3systems.com 3). Interloc-Kings Inc. is a hardscape construction company servicing the Greater Toronto Area. This subsidiary is an authorized Unilock installer. Unilock is 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.comSafe Harbor StatementThis 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,", "will", "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 MortimerAmfil Technologies Inc.Telephone: (647) 880-5887Email: rmortimer@amfiltech.comOrBen CastanieSnakes & Lattes Inc.Telephone: (416) 500 2911Email: ben@snakesandlattes.com

Toronto, Ontario, Nov. 13, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire \-- Amfil Technologies Inc. (OTC: FUNN) is pleased to announce a follow up sale from the GRO3 JV.  Virdi, LLC has purchased its third and largest GRO3 EcoPrO3 Antimicrobial system.  Virdi sells the proprietary Vessl closure, beverage manufacturing equipment, and other packaging materials primarily to beverage manufacturers in the cannabis industry.  As announced last year when the initial two antimicrobial systems were purchased by Virdi, LLC., an LOI and an exclusive supply agreement was entered into which would provide for up to eight (8) additional EcoPrO3 Antimicrobial Systems to be purchased and supplied to Virdi, LLC.The first two EcoPrO3-10SS Ozone Side Stream Systems were integrated into customers’ facilities for the purposes of providing an all-natural sanitization and anti-microbial solution throughout the production process. The EcoPrO3-10SS exclusively utilizes aqueous functionality compared to the EcoPrO3 GRO3 60 system which utilizes an aqueous and gaseous combination. The EcoPrO3-20SS processes all liquids in the formulations prior to their products being prepared and packaged for consumption. GRO3 is pleased to announce that the units were successfully installed and integrated into the production process and the results exceeded expectations. Furthermore, a follow up order has now been received from Virdi, LLC. for the largest unit to date and incorporates GRO3’s new proprietary ozone system manufactured completely in-house.  The EcoPrO3 system provides complete process water pre-filtration and antimicrobial treatment to ensure the final product meets and exceeds the highest food safety standards while maintaining quality, flavor, and potency.“Amfil Technologies shares our same dedication to providing equipment to enable the manufacture of fresh, healthy and innovative beverage products,” said Aaron Harris, COO for Virdi. The VesslTM closure is a key piece of advanced technology in the most innovative beverages. The technology consists of a nitrogen-pressurized, patented bottle closure system that protects contents without the need of artificial preservatives. The VesslTM system pressurizes the mix inside, keeping the beverage shelf-stable until ready to consume. As a result, the liquid has high bioavailability, which leads to a faster high – usually within only 15 minutes.“We are excited to be working yet again with Virdi and that the ECO-PRO3 systems are exceeding their stringent quality-assurance standards. The successful integration of the third unit at their facility provides further confirmation of the system’s efficacy in delivering natural antimicrobial treatment for use in the cannabis industry while exceeding the highest food standards. We look forward to a continued and expanded working relationship with Virdi and will continue our objective of delivering solutions which exceed the quality standards of their world-class facilities,” stated Roger Mortimer, CEO and President of Amfil Technologies Inc.About Virdi, LLCVirdi, LLC. is a privately-owned company based in Tempe, Arizona and is the exclusive supplier of the patented Vessl™ closure (www.vesslinc.com) for consumable liquid cannabis beverage applications in the US and Canada.  The Vessl™ closure is a dosing and dispensing device that allows the delivery of fresh ingredients without the need for artificial preservatives.  Virdi sells the patented VesslTM closures, trademarked packaging materials, proprietary formulas, beverage manufacturing equipment, packaging machines, and clean room infrastructure to distributors that produce and distribute trademarked and private or white label brands for cannabis and other beverage applications.About Amfil TechnologiesAmfil 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 3 tabletop gaming bars and cafes located in Toronto, Ontario and 1 in Tempe, Arizona. The company is in the process of expanding throughout North America. Snakes & Lattes Inc. was the first board game bar and cafe in North America, is believed to be the largest in the world and has the largest circulating public library of board games in North America for customers to choose from. Snakes & Lattes Inc. currently has a 100+ member staff and recently acquired the exclusive distribution rights throughout Canada for some of the most popular board games in the world. The company also operates a lucrative fulfillment and distribution division and has recently entered into the board game publishing business through the acquisition of Morning which is expected to add significant revenues to the bottom line. For more information on Snakes & Lattes Inc. feel free to visit the website at www.snakesandlattes.com2). 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. The subsidiary has developed a strategic partnership with Roto Gro, the creator of proprietary rotary hydroponic technology. 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 is 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.comSafe Harbor StatementThis 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,", "will", "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 MortimerAmfil Technologies Inc.Telephone: (647) 880-5887Email: rmortimer@amfiltech.comOrBen CastanieSnakes & Lattes Inc.Telephone: (416) 500 2911Email: ben@snakesandlattes.com