Paul Khakshouri, President, stated, “We are pleased with the progress we have attained in entering the China market. To go from concept to opening up our first retail operation in less than one year is truly a milestone. Our aggressive approach directly relates to the strength of our partners in Shanghai. We will commence to ship freshly roasted coffee from our roasting facility in Berkeley California, for this first retail shop, and will continue to work closely with our partners as they initiate their build-out plan to open additional commercial coffee shops.”
Growers Direct also reports previously announced restructuring is near completion. Upon filing of the 10-KSB, Shailen Singh will step down as Chief Financial Officer and Chairman, allowing Vincent Cafici, CPA, to become the new Chief Financial Officer. Shailen Singh will now devote his time to organizing and initiating further growth in China coffee shops and sourcing green beans from other producing countries.
Growers Direct Coffee Company, Inc., is a worldwide distributor and marketer of the green bean coffee grown in Papua New Guinea, “Penlyne Castle” brand “Jamaican Blue Mountain” coffee grown by Blue Mountain Coffee Co-Operative Society Ltd. (“BMCC”) of Jamaica and Ethiopian Fair Trade and Organic certified coffee. Coffee in Papua New Guinea is grown by the Company’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, “Jamaican Blue Mountain” and Ethiopian Fair Trade and Organic certified coffees are well regarded by consumers for their uniqueness, consistency and special flavor characteristics. For more information about our coffee products, visit our website at www.growersdirectcoffee.com. Our wholly owned subsidiary, Uncommon Grounds Inc., established in 1984, is a coffee roasting and wholesale company based in Berkeley, California. Visit the website at www.uncommongrounds.net to purchase artisan roasted blends and single origin coffee beans from Papua New Guinea, Jamaica, Sumatra, Columbia, Brazil and Nicaragua.
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 business plan; 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 the green bean coffee business. These forward-looking statements are not guarantees of future performance.
Corporate Enquiries
Mike Khakshouri, 212-532-2444