JAVO BEVERAGE COMPLETES $6 MILLION OFFERING TO FUND EXPANSION OF COFFEE BUSINESS SAN DIEGO, January 8th, 2004 - Javo Beverage Company announced today that it has successfully completed its $6 million private offering. "These funds have and will continue to provide cash for expanding our sales force, growing the manufacturing capacity at our Vista, Calif., coffee extraction and roasting facility, increase working capital and create a cash reserve for marketing expenditures," commented Cody Ashwell, Javo CEO.
"As previously announced, the shares issued as part of this offering were contributed to the company's treasury by members of management so that it was not necessary to use additional stock from the company's available authorized," said Richard Gartrell, CFO.
Javo operates a state-of-the-art coffee brewing facility in the San Diego area that supplies a rapidly growing list of national and now international coffee customers. Along with others, Javo provides high quality coffee concentrates to distributors such as SYSCO Foodservice and US Foodservice and liquid coffee extracts to Wolfgang Puck's Gourmet Lattes, YoCream International and WILD Flavors.
About Javo Beverage Company
Javo Beverage Company (OTC Bulletin Board: JAVO), based in Vista, Calif., is a manufacturer of coffee concentrates, extracts and beverages for the foodservice and food ingredient industries. For foodservice operators, Javo offers great tasting coffee concentrates and coffee-flavored beverages that conveniently dispense like juice or soft drinks. Javo Beverage Company also supplies customized coffee extracts that, when used as a food ingredient, give packaged foods and ready-to-drink beverages authentic and robust coffee flavor. Javo's coffees, extracts and beverages are served at restaurants and foodservice establishments nationwide. More information about Javo Beverage Company is available at www.javobeverage.com
