LOS ANGELES, Aug. 8, 2011 /PRNewswire/ — Jammin Java Corp. (OTCBB: JAMN) has announced that it has expanded its distribution license agreement with Marley Coffee, LLC. The total consideration for the amended license is $126,000.00 of assumed debt. The new license, which amends the original license signed in May 2010, will give Jammin Java the Exclusive right to distribute Marley Coffee in North America and the Caribbean and also allows Jammin Java to distribute Marley Coffee to retail grocery stores. As a result of the new license agreement, Jammin Java will assume all of Marley Coffee’s current coffee distribution, including online and brick and mortar establishments. Jammin Java will now distribute Marley Coffee throughout the Western United States (including Hawaii), and Canada, as well as through various web-based venues (such as Cooking.com, with which Jammin Java has an existing partnership).
The amended license also gives Jammin Java a non-exclusive license to manufacture or sell any ready to drink coffee drinks, tea products, chocolate products merchandising and coffee related equipment such as machines and grinders.
“We are very excited about this amended license,” says Rohan Marley, Chairman of Jammin Java Corp. — Jammin Java Corp. has the financial means, the executive team and the distribution backbone to really push the Marley Coffee brand forward through all market segments.”
“There has been some confusion in the marketplace over the differences between the private company Marley Coffee, LLC and the public company Jammin Java Corp. Originally, we intended to develop distribution into 2 separate markets; grocery retail distribution and service/ OCS distribution and have each company focus on the separate markets. However, this amended license will strengthen our overall distribution and alleviate any marketplace confusion.”
One other move to reduce confusion in the marketplace was to allow Jammin Java Corp. to do business as Marley Coffee as part of the amended license. All future products no longer need to say Jammin Java by Marley Coffee, rather it will all run under the banner of Marley Coffee by Rohan Marley.
“It is truly wonderful to see Rohan’s vision come to life,” commented Cedella Marley, director of 56 Hope Road Merchandising. “We are excited about Marley Coffee’s expanded license with Jammin.”
About Jammin Java Corp.
Jammin Java Corp. is a US-based company providing premium roasted coffee on a wholesale level to the service, hospitality, office coffee service and big box store industry. Jammin Java is a fully reporting company quoted on the OTCBB under the symbol JAMN. For more information, please visit the company’s website at www.jamminjavacorp.com or to purchase the coffee go to www.MarleyCoffee.com.
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”) . In particular, the words “believe,” “may,” “could,” “should,” “expect,” “anticipate,” “estimate,” “project,” “propose,” “plan,” “intend,” and similar conditional words and expressions are intended to identify forward-looking statements and are subject to the safe harbor created by these Acts. Any statements made in this news release about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks and others are included from time to time in documents we file with the Securities and Exchange Commission (“SEC”), including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on our future results. Accordingly, you should not place undue reliance on these forward-looking statements. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the Company. The Company’s SEC filings are available at http://www.sec.gov.
Investor Relations Contact:
Stuart T. Smith
Jammin Java Corp.
8200 Wilshire Blvd. Suite 200
Beverly Hills, CA 90211