American Wealth Mining Corp Signs Binding LOI for First US Cafe Location in New York City
PLAYA VISTA, Calif., Jan. 12, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – American Wealth Mining Corporation (OTC:HIPH) ("AWM" or the "Company”) is pleased to announce that it has executed a binding LOI to acquire its first Cafe in the US. Upon completion of the transaction, the Company intends to establish the first HAPI Cafe (https://www.hapicafes.com/) location in New York City. This would also become HAPI Cafe’s first US location. The transaction is set to be completed by the end of this month. The terms of the LOI were not publicly released.
The Company announced in August that it had reached an agreement with Sharing Services Global Corporation (“SHRG”) (OTC:SHRG), the master franchisor of HAPI Café in North America, to be HAPI Café’s exclusive licensee in New York State. With the 1st HAPI Cafe set to open imminently, AWM intends to open 20 HAPI Cafés in New York State over the next 18 months. Throughout the US, HAPI Cafe is targeting to open over 200 locations in the next 18 months.
Ryan Fishoff, CEO of AWM, commented, “The Company is excited for its first HAPI Cafe location in New York! This is a milestone achievement for AWM as we are positioning the Company to meet the strategic goal that we set back in August to open 20 cafes in New York State over the next 18 months. The HAPI Cafe concept is a central part of the company’s shift towards “Wealth Mining”; these locations will be centers of innovation in which customers will be exposed to the future of FinTech, education, wellness, crypto, health and wealth that meet the demands of the 21st-century consumer. The cafes will be a significant revenue driver for the Company, targeting to add over seven figures once our goal of 20 locations is achieved.
“This transaction starts off 2023 strong by opening our first HAPI Cafe, and with our JV with New Energy announced at the end of 2022, positions us well to start the year with momentum to build our “Wealth Mining” platform. A focal point for AWM’s Wealth Mining blueprint is to invest in innovative and sustainable businesses. The development of the Company’s ‘Wealth Mining’ strategy is intended to strengthen the balance sheet to yield a tangible net result of increasing shareholder value. With all the planned initiatives from the different business areas, I look forward to giving shareholders a more comprehensive outlook for 2023 in the next few weeks that outlines the Company’s vision to build a unique company that incorporates crypto, fintech, physical retail, venture, and health and wellness into one platform.”
About HAPI Cafe
HAPI Cafe (https://www.hapicafes.com/) is a unique lifestyle café outlet that inspires to transform the way people eat, work and live, by offering a combination of Health, Fitness, Work, and Leisure services in one location.
About Sharing Services Global Corporation
Sharing Services Global Corporation (OTCQB: SHRG), formerly Sharing Services Inc., is a publicly traded diversified company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies. The Sharing Services combined platform leverages the capabilities and expertise of various companies that market and sell products direct to the consumer. One of its primary divisions is Elevacity U.S., LLC a sales and marketing company based on utilization of independent contractors as the sales force. https://www.shrginc.com/
About American Wealth Mining Corporation
American Wealth Mining Corporation (“AWM”) focuses on sustainability and maintaining a portfolio of investments in line with the Company’s vision that generates long-term sustainable shareholder value. AWM also focuses on building a financial educational platform to meet the increasingly diverse and complex needs of consumers. www.americanwealthmining.com
This press release includes statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control, and which may cause results to differ materially from expectations. For a discussion of the most significant risks and uncertainties associated with the Company’s business, please review our filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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