Coffee Pacifica receives $2.25 million in funding

by Staff
Share This:

LAS VEGAS — Coffee Pacifica, Inc., a distributor and marketer of the green bean coffee grown in Papua New Guinea and Penlyne Castle brand Jamaican Blue Mountain coffee, has received gross proceeds of $2,250,000 by issuance of $2,678,571 of convertible notes to five accredited investors. Coffee Pacifica said the convertible notes, which are due March 18, 2009, may be converted, at the option of the note-holders, into shares of common stock of Coffee Pacifica, Inc.

"Funding provides us with the necessary working capital to maximize shareholder value by increasing revenue, cash flow, and earnings of Coffee Pacifica," said Terry Klassen, chief executive officer of Coffee Pacifica.

Jon Yogiyo, vice-chairman of Coffee Pacifica and chairman of PNG Coffee Growers Federation Ltd., said the funding will generate revenue growth, which will allow the company to increase the shipment volume of its cooperative coffees.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.



The views expressed in the comments section of Food Business News do not reflect those of Food Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.