NEWS !!!!!!!!!!!
Peabodys Secures Lease Financing for Future Growth
ROCKLIN, Calif., Jan 28, 2002 (BUSINESS WIRE) -- Peabodys Coffee Inc.
(OTCBB: PBDY <N?IM=quotes&symbol=PBDY&type=Quote>
announced today that it has reached an agreement with a privategroup of investors who will provide the company with up to $300,000 of lease
financing for the purchase of equipment and kiosks. Terms of the agreement were
not disclosed.
Peabodys Chairman and CFO, Todd Tkachuk, commented: "We are very pleased with
the leasing arrangement as it opens the door for us to accelerate growth.
Additionally, this group of investors are very active and have proven themselves
capable of creating opportunities, such as being introduced to Marathon Global."
Peabodys President and CEO, Cliff Young, commented: "This leasing arrangement is
exactly what we needed. It enables us to free up cash and puts us in a position
to move on new business opportunities without delay."
This release contains forward-looking statements regarding the Company`s
anticipated plans in the organic coffee market. These statements are subject to
certain risks and uncertainties that could cause actual results to differ
materially from those set forth in the forward-looking statements. Among the
factors that could cause actual results to differ materially are consumer
acceptance of the Company`s organic coffee products; the Company`s ability to
fund and manage any further expansion of its organic coffee market efforts; the
seasonality of coffee sales; and the effects of competition. Investors are
advised to consult the Company`s periodic reports to the SEC for additional
discussion of the Company`s business risks. Readers should not place undue
reliance on forward-looking statements, which reflect management`s view only as
of the date hereof. The Company undertakes no obligation to publicly revise
these forward-looking statements to reflect subsequent events or circumstances.
CONTACT: Peabodys Coffee Inc., Rocklin
Tony Francel, 941/698-0158
pbdy-ir@home.com