Posted at 12:20 p.m., Thursday, December 20, 2007
Pacific Land and Coffee issues stock in purchase
Advertiser Staff
Pacific Land and Coffee Corp., a Honolulu-based company that sells private-label coffee, said it acquired a 71.5 percent stake in Integrated Coffee Technologies Inc., a firm developing coffee plants that produce caffeine-free beans and those which can be controlled by growers to improve harvests and processing efficiency.Pacific Land said the acquisition consisted of issuing 7.64 million shares of its common stock and that it will seek the remaining ownership interest in Integrated Coffee.
"The acquisition of Integrated Coffee Technologies is not only complementary to our existing business but provides our shareholders with the opportunity to participate in a revolution in the coffee industry," said Dale Nielsen, Pacific Land chief executive officer, in a press statement. Pacific Land also brokers green bean coffee under the Coscina Brothers Coffee brand.
Pacific Land trades on the Over-the-Counter Bulletin Board market under the symbol PLFF.
