Aug. 2, 2012
/PRNewswire/ -- Jammin Java Corp. (OTCBB: JAMN), which does business as Marley Coffee, a sustainably grown, ethically farmed and artisan roasted gourmet coffee, today announced that it has closed on agreements with two financial institutions — TCA Global Credit Master Fund and Fairhills Capital Management — that will provide the company with access to up to
) of new funding. Jammin Java ("the Company") intends to use the new financing to support North American and international expansion of Marley Coffee as well as for other general corporate purposes.
"We are very pleased to have TCA and Fairhills join the Marley Coffee movement as we continue to build our business and strengthen our company," said
, chairman, Marley Coffee. "We look forward to another year of growth as we establish new channels of distribution for our products."
"As we outlined in our
in June, we've had a year of important milestones as we work to increase our market share and bring the Marley Coffee brand and products to customers worldwide," said
, CEO, Marley Coffee. "The reality is that we are executing on numerous initiatives, and with this financing in place we plan to strategically increase our workforce to successfully implement these business-building programs and continue our growth and focus on delivering long-term value to shareholders. We are happy to be working with TCA and Fairhills to provide the financial flexibility and resources to build upon our momentum."
The Company has signed a Credit Agreement with TCA Global Credit Master Fund ("TCA"), which seeks to provide financing to small, growing, private and listed companies ("TCA"). The Credit Agreement provides the Company the right to borrow, from time to time, up to
) from TCA, subject to the value of eligible accounts receivable the Company provides TCA the rights to in order to secure the repayment of the amounts borrowed under terms of the Credit Agreement. The Credit Agreement with TCA has a term of one year. For information about TCA Global Credit Master Fund, visit