DOCASA, Inc. (OTCQB: DCSA) through its subsidiary, Department of Coffee and Social Affairs Limited, operates and manages coffee shops. Currently, the company operates 10 coffee shops within the United Kingdom. However, the company is based out of Schaumburg, Illinois. Shares of DOCASA, Inc. are jumping 28.57%, through afternoon trading on Wednesday, March 29, 2017. Over the past three months, the company has seen average daily volume of 1,437 shares. However, volume of 21,188 shares or dollar volume of $38,350, has already exchanged hands today.
Shares of DOCASA, Inc. are climbing Wednesday, after the company announced it has secured a new coffee shop location in Manchester, UK. The new location will be on the ground floor of the Faulkner House and comprise of nearly 3,000 square feet. The company plans to make the new location its flagship store, which will also have co-work spaces for professionals. Here is the full press release detailing of the new coffee shop location:
DOCASA, Inc. Press Release
SCHAUMBURG, Ill., March 29, 2017 /PRNewswire/ — DOCASA, Inc. (DCSA), through its award-winning subsidiary, Department of Coffee and Social Affairs Limited, based in the United Kingdom (“UK”), has announced the securing of its first coffee shop site in Manchester, UK. The new site is located on the ground floor of Faulkner House, a 25,000 sq. ft. building of serviced offices, in Manchester’s iconic Piccadilly Gardens area.
The new site, comprising nearly 3,000 square feet of space and offering 120 covers, will be the Department of Coffee and Social Affairs’ flagship store and barista training hub in the northern part of England. It will also act as a co-work space for professionals, with hot desks, breakout spaces and meeting rooms available to rent by the hour.
Commenting on the new site, DOCASA, Inc.’s President & CEO, Ashley Lopez, said: “We are thrilled to be opening in Manchester, a city with such a dynamic business and arts culture and one we have been looking to locate in for some time; this is the first of several planned site openings here.” She went on, “With 1.91 million professional freelancers in the UK, the increasing demand for flexible workspace is constantly growing. Manchester is no exception to the trend, and we are capitalizing on this demand by dedicating space in our new site to cater for those professionals who need alternative work space.”
Manchester, the UK’s second largest city with 2.6 million people, is known for its flourishing music, culture and arts scene. In the past decade, the population has grown by about 17%, approximately double the UK growth rate. Based on the latest Hometrack research report released this month, Manchester also tops UK cities for having the strongest home price growth: 8.8% year-on-year. The city is home to over 100,000 businesses with an economy generating an annualized $70 billion.
About DOCASA, Inc.
DOCASA, Inc. is focused on the investment in a rapidly growing specialty coffee market principally in the United Kingdom. Through its subsidiary, Department of Coffee and Social Affairs Limited, headquartered in London, England, it has established and is growing an award-winning, market leading UK specialty coffee shop and online retail business. DOCASA is also pursuing the franchising and/or licensing of its branded shops and premium product offering outside of the UK to countries where the premium coffee market is rapidly expanding. The company continues to review opportunities in the broader international coffee market.
For additional information, please contact:
DOCASA, Inc.Maryam Mazraei, Communications Director
Forward looking statement:
This press release contains certain “forward-looking statements,” as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management’s current expectations. The economic, competitive, governmental, technological and other factors identified in the Company’s previous filings with the Securities and Exchange Commission may cause actual results or events to differ materially from those described in the forward-looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.