Coffee Pacifica has entered into a joint venture agreement with China Capital Partners to establish coffee shops in China.
The joint venture anticipates opening first coffee shop during the fourth quarter of 2007. The joint venture shops will be featuring specially created artisan roasted coffee blends by Uncommon Grounds Inc.
Jon Yogiyo, vice chairman of Coffee Pacifica stated; "Entry into China's retail coffee market enables our 100% owned subsidiary an opportunity to greatly increase sales of its roasted coffees and new coffee blends created specifically for the Chinese market. Several coffee buyers from China have already visited our farms in PNG. This venture completes our `Growers Direct' strategy from `Tree to Cup' coffee company. We are positioning ourselves in the latest Chinese trend of drinking coffee."
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 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.
Coffee Pacifica, Inc. (CFPC) previously at $0.73 up 28% at $0.94 with 1,132,148 shares traded. (CFPC) was highlighted by StockEgg.com Stock Tiger, Bull in Advantage, OTC Picks, Stock Tiger , First Financial News, Stock Tiger and HotOTC.com.
Coffee Pacifica, Inc. announced that at its Annual General Meeting to be held on September 5, 2007, the company will seek shareholder approval to change the name of Coffee Pacifica Inc. to Growers Direct Coffee Company Inc. Shares were boosted today on the announcement of a joint venture agreement with China Capital Partners Inc. ("CCP") to establish coffee shops in China. The joint venture anticipates opening first coffee shop during the 4th quarter of 2007.
The company also announced that any effect on shipment of coffees from Jamaica due to Hurricane Dean will impact 2008 second and third quarters. Coffee Pacifica does not anticipate any negative impact on its revenue for the 2007 fiscal period.
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.