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Coffee Pacifica
Closes $2.25 Million Funding
Other Topics:
Signature Coffee Blends,
Coffee Award
Coffee Pacifica, Inc.
March 20, 2007
Las Vegas, NV -- Coffee Pacifica, Inc. (OTCBB:CFPC)
announced today that effective March 19, 2007, it received
gross proceeds of $2,250,000 by issuance of $2,678,571 of
convertible notes to five accredited investors. The
convertible notes due March 18, 2009 may be converted, at
the option of the Note-holders, into shares of common
stock of Coffee Pacifica, Inc. JPC Capital Partners, Inc.,
an Atlanta based NASD firm, acted as exclusive placement
agent for this transaction. Please visit
www.jpccapital.com for more information.
Terry
Klassen, CEO of Coffee Pacifica, stated “Funding provides
us with the necessary working capital to maximize
shareholder value by increasing revenue, cash flow, and
earnings of Coffee Pacifica.”
“This funding will fuel our revenue growth. Increased
working capital will enable us to aggressively increase
the shipment volume of our co-operative coffees,” said Jon
Yogiyo, Vice Chairman of Coffee Pacifica and Chairman of
PNG Coffee Growers Federation Ltd.
Coffee Pacifica, Inc. is a distributor and a marketer in
the United States, Canada and Europe of the green bean
coffee grown in Papua New Guinea and “Penlyne Castle”
brand “Jamaican Blue Mountain” coffee grown by Blue
Mountain Coffee Co-Operative Society Ltd (“BMCC”) of
Jamaica. Green bean coffee in Papua New Guinea is grown by
Coffee Pacifica’s shareholder-farmers in the Highland
region’s rich volcanic soils between the altitudes of
4,000 and 6,000 feet above sea level. Papua New Guinea
exports approximately 2% of the annual world green bean
production. Papua New Guinea coffee is well regarded by
consumers for its uniqueness, consistency and special
flavor characteristics. For more information about our
coffee products, visit our website at
www.coffeepacifica.com. Coffee Pacifica’s wholly owned
subsidiary, Uncommon Grounds Inc., established in 1984, is
a coffee roasting and wholesale company based in Berkeley,
California. Visit their website at www.uncommongrounds.net
to purchase our PNG roasted coffee beans.
PNG Coffee Growers Federation Ltd. (“PNGCGF”) is our
strategic partner and a major shareholder. PNGCGF’s
shareholders are 179 individual independent coffee grower
co-operatives in 11 of the 13 coffee growing provinces in
Papua New Guinea. This represents approximately
120,000-plus individual coffee farmers involved in
producing co-operative coffee. The high quality
premium-grade coffee produced by the co-operatives are
pooled and marketed by Coffee Pacifica. In PNG
approximately 86% of the exported coffee is annually
produced by the small independent coffee growers.
“Penlyne Castle” brand “Jamaican Blue Mountain” coffee is
grown by Blue Mountain Coffee Co-Operative Society Ltd (“BMCC”)
of Jamaica. BMCC is a Jamaican incorporated society that
has been actively involved in the production and
exportation of the Jamaican coffee since 1949. BMCC
represents approximately 3,000 coffee farmers within the
Blue Mountain coffee region of Jamaica. BMCC was
established to enhance and improve the economic benefits
of its members.
Except for the historical matters contained herein,
statements in this press release contain “forward-looking
statements” within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act
of 1995. Investors are cautioned that forward-looking
statements involve risks and uncertainties which may
affect the Company's current and future business and
prospects. Actual results could differ materially, as a
result of various risk factors including but not limited
to: (1) competition in the markets for the Company's
coffee; (2) the ability of the Company to execute its
plans; and (3) other factors detailed in the Company's
public filings with the SEC. By making these
forward-looking statements, the Company can give no
assurances that transactions described in this press
release will be successfully completed, and undertakes no
obligation to update these statements for revisions or
changes after the date of this press release. This release
should be read in conjunction with our Annual Report on
Form 10-KSB and our other filings with the SEC through the
date of this release, which identifies important factors
that could affect the forward-looking statements in this
release. In addition, factors that could cause actual
results to differ materially from those contemplated in
the statements include, without limitation, overall
economic conditions, and other risks associated generally
with green bean coffee business. These forward-looking
statements are not guarantees of future performance.
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