VANCOUVER, British Columbia--(BUSINESS WIRE)--DTS8 Coffee Company, Ltd. (OTCQB:BKCT) (BERLIN:9BE) announced today that it has retired both outstanding convertible notes dated October 20, 2016. The notes have been replaced with one non-convertible loan from an affiliate of the company.
CEO Douglas Thomas stated, “Terms of this new loan not only extend the repayment date for the funds loaned but remove the uncertainty of dilution associated with the number of common shares that would have been issued to discharge the convertible note.”
DTS8 Coffee Company, Ltd. is a Canadian-based purveyor of artisan roasted, gourmet coffee in China. Its “Premium,” “Single Origin Premium,” “Don Manuel,” and “Private Label” brands are available in Shanghai and other cities in China. The coffees are well regarded for their uniqueness, consistency and special flavor characteristics, reaching consumers at many restaurants, multi-location coffee shops, online and offices. For additional information visit us at www.dts8coffee.com.
Except for the historical matters contained herein, statements in this press release contain “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties which may affect DTS8’s current and future business and prospects. Actual results could differ materially, as a result of various risk factors including but not limited to: (1) competition in the markets for DTS8’s coffee; (2) the ability of DTS8 to execute its business plan; and (3) other factors detailed in DTS8’s public filings with the SEC. By making these forward-looking statements, DTS8 can give no assurances that transactions described in this press release will be successfully completed, and undertakes no obligation to update these statements for revisions or changes after the date of this press release. This release should be read in conjunction with DTS8’s Annual Report on Form 10-K and its other filings with the SEC through the date of this release, which identifies important factors that could affect the forward-looking statements in this release. In addition, factors that could cause actual results to differ materially from those contemplated in the statements include, without limitation, overall economic conditions, and other risks associated generally with the green bean coffee business. These forward-looking statements are not guarantees of future performance.