LOS ANGELES, Dec. 23, 2010 /PRNewswire-FirstCall/ -- Jammin Java Corp. (OTC Bulletin Board: JAMN), announced today that it has entered into an equity investment agreement with certain institutional investors for the purchase of the Company's common stock at $0.40 per share. The Company has received the financing as a draw-down under the terms of the equity investment agreement that does not include any debt financing and facilitates funding of up to $2,500,000. The funds have been drawn to support the implementation of the national roll out of the company's coffee service distribution plan and support ongoing operational activities.
"Our board is very pleased about this financing commitment. This money will help us increase shareholder value as we use it to continue the development and growth of our company and its mission to provide gourmet coffee to our markets," said Rohan Marley, Chairman of Jammin Java Corp.
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.
"Safe Harbor" Statement: Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.
Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Jammin Java Corp. (the "Company"), as well as those contained herein, that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward looking statements.
SOURCE Jammin Java Corp.