Denver’s Marley Coffee company announced Friday an agreement to have its coffees carried by Milestones, a Canadian-based chain of “upscale-casual” restaurants.
Under the deal, in which terms were not disclosed, Marley Coffee will be available in more than 50 locations, officials for Jammin Java Corp., which does business as Marley Coffee.
The agreement furthers the international expansion for the Marley Coffee brand, which is sold in the U.S., Canada and countries such as the United Kingdom, Sweden, Norway, Iceland, France and South Korea.
Jammin Java earlier this month released preliminary fourth-quarter and full-year results for the period that ended on Jan. 31, 2016. The company expects quarterly and annual revenue to be about $3.2 million and $12.3 million, respectively, which would be increases of more than 25 percent.
Profits also were expected to increase to $929,000 for the quarter and $3.1 million for the year, the company said. The quarterly net loss was projected to be $1.6 million.
Company officials also said that the against the former CEO of Marley Coffee, who allegedly orchestrated a $78 million “pump and dump” stock scheme, has hurt only the company’s share prices and not resulted in any loss of customers.
Shares of Jammin Java (OTCQB: JAMN) closed at 11 cents on Thursday. The company’s 52-week high of 31 cents was recorded in May 2015.
Alicia Wallace: 303-954-1939, awallace@denverpost.com or @aliciawallace
