"Cafe Holdings Inc Update"

CHICAGO, Feb. 17, 2022 /PRNewswire/ -- Café Holdings, Inc.  (OTCPINK: COFE), is a company engaged in the acquisition and management of standout specialty coffee brands and investment in the downstream coffee sector.

The Company has been active and compliant with all OTC Pink Limited regulations without interruption since new OTC rules came into force at the end of September 2021.  The Company's profile has been verified.

On 31 December 2021, the Company settled its litigation with Dollop Coffee, Inc. in Chicago, which commenced against the company in March 2020.  In the Settlement, the Company agreed to sell its controlling interest in the Chicago-based chain back to Dollop Coffee.  Further details regarding this settlement will be forthcoming in the Company's Annual Report, due before 30 April 2022.

The Company has entered a Heads of Terms Agreement (the "Agreement") with a speciality coffee company in the United Kingdom to launch a U.S.-based coffee subscription business, to be based in Illinois, and built around a successful model operating in the UK for several years.  The Agreement includes the branding, expertise and continuous product development for Café Holdings, Inc.  The blends available for subscription will all be at Speciality Grade.  In addition, the Company has retained the services of a specialist global digital marketing agency to market this new service.  Details of the Agreement will be published in the Annual Report.

The direct-to-consumer coffee (subscription) market is estimated to grow to $2.8 billion a year by 2027, representing a CAGR of 15.3%, between 2021 and 2027, according to Research & Markets Inc. (31.08.21).  Further details will be disclosed in the Annual Report.

The Company is also currently working with several global professionals on the launch of a new asset backed, blockchain based cryptocurrency venture in support of coffee farmers around the world.  More information on this project will be forthcoming as it progresses. 

The Company has appointed a specialist law firm in Illinois to represent it in a proposed and offensive professional malpractice lawsuit relating to the action taken by Dollop Coffee in March 2020, the details of which will be forthcoming in the Company's Annual Report.

The Company has also engaged the law firm of Thompson Hine (out of its Chicago and New York offices) to provide legal counsel to the Company in connection with corporate, securities, litigation, and other legal issues with immediate effect.

SOURCE Cafe Holdings Inc