Jammin Java Corp. (OTC Pink: JAMN) is engaged as a premium coffee company. Shares of the coffee company are jumping 57.14% on Wednesday, April 26, 2017. Over the past month, Jammin Java Corp. has seen average daily volume of 33.39 million shares. However, volume of 114.75 million shares or dollar volume of $126,225, has already exchanged hands on Wednesday.
Shares of Jammin Java Corp. are surging today after the company announced it has signed a memorandum of understanding (MOU) agreement with High Performance Beverage Company (OTC Pink: TBEV). The joint venture will focus on developing canned and bottled cold coffee beverages. Specifically, the joint venture will develop a cannabis-infused coffee, sugar free/low calorie coffee, and coffee energy beverages. Here is the full press release detailing of the joint venture agreement:
Jammin Java Corp. Press Release:
DENVER, CO–(Marketwired – Apr 25, 2017) – Jammin Java Corp. ( OTCQB : JAMN ), the sustainably grown, ethically farmed and artisan-roasted premium coffee company, is pleased to announce it has signed a memorandum of understanding (MOU) with High Performance Beverage Company ( OTC PINK : TBEV ) to joint venture in the development of canned and bottled cold coffee drinks.
Jammin Java is moving into new areas of cold coffee products to establish itself within the multi billion dollar industry. Bloomberg news reported Canned or bottled ready-to-drink coffee is a natural evolution flowing from a consumer landscape awash with premium coffee at ubiquitous Starbucks and countless independent coffee bistros. The U.S. ready-to-drink coffee market has been growing by double digits annually since 2011, and Euromonitor International expects the market to reach nearly $3.6 billion by 2020. The global market stood at $18 billion in 2015, according to Euromonitor.
Product lines Jammin Java is planning to produce are:
- Cannabis Coffee for the Colorado markets, including THC and CBD based coffees
- Sugar Free and Low Calorie Canned and Bottled Cold Coffee products for the US nationally
- Coffee Energy Drinks including full fat and sugar along with low calorie varieties.
Jammin Java considers the taste and the active ingredients to be the most important factors in producing its coffee based drinks.
Chris Plant, CEO of Jammin Java, stated, “We are excited to begin this transition in our business model from traditional coffee roasters to the cold coffee drink business. We believe we will have many advantages over the existing companies in the market place because we are a coffee company first.” Mr. Plant continued, “The fact we are located in Colorado, where cannabis is recreationally legal, will give us a competitive advantage when we start selling cannabis coffee drinks throughout the state. Priority number one is making a great tasting coffee drink, and a close number two is establishing ourselves as the premium cannabis coffee drink in Colorado. Once we accomplish that, we will look to start cannabis coffee drinks in the other legally permitted States.”
Please follow us on Twitter @
About Jammin Java Corp.
Jammin Java Corp. is a United States (U.S.)-based company that provides sustainably grown, ethically farmed and artisan roasted gourmet coffee through multiple U.S. and international distribution channels. U.S. and international grocery retail channels have become the Company’s largest revenue channels, followed by online retail, office coffee services (referred to herein as OCS), food service outlets and licensing. The Company intends to introduce new cold coffee beverages to its product line and achieve a leadership position in the gourmet coffee space.
This Press Release includes forward-looking statements. See disclaimer here.