Grand Havana Inc. Announces New Management and Directors, Fully Updates Financials

Rhea-AI Summary

Grand Havana Inc. (OTC Pink: GHAV) announced a new management team and vision, focusing on coffee sales and distribution. Partnering with H&H Coffee Group, the company aims to enhance revenue through a vertically integrated value chain. Recent financial updates show restored OTC Pink status and a commitment to eliminating legacy debt and increasing revenue. The new strategy includes securing over $5 million in green coffee contracts and exploring franchise opportunities. The administration emphasizes timely financial reporting and shareholder value.

Positive

• New management team from H&H Coffee Group focused on improving green coffee sales and distribution.
• Restored OTC Pink status and lifted restrictions on GHAV common stock.
• Completed funding round ahead of schedule, securing working capital from green coffee inventories.
• Anticipated contracts worth over $5 million for green coffee sales to major U.S. distributors.

Negative

• None.

MIAMI, FL, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Grand Havana Inc. (OTC Pink: GHAV) and its wholly owned subsidiaries, Grand Havana Masters, LLC, Grand Master Brands, LLC, and GH Hospitality Group, LLC today announced a new vision for the company led by a new management team and new Directors from H&H Coffee Group Export Corp. (H&H); and, also released updated financial results for the quarter ending September 30, 2022.

A New Vision

H&H is a farm to cup coffee company that has devoted the last decade to developing its position as a leading exporter of Central American washed coffees, primarily in Nicaragua – Our Home. By leveraging its vast infrastructure of specialty coffee farms and processing mills along with its partnerships with growing cooperatives and a global client base, H&H will usher in a new focus on green coffee sales and distribution.  This scale will dramatically impact revenue alongside the current B2B and B2C roasted coffee operations of GHAV.

Working in tandem with sourcing partners Beneficio de Café, S.A. (SOLCAFE S.A.), H&H has invested extensively in the productive capacity and industrialization required to guarantee quality coffee flows. The SOLCAFE/H&H partnership enables access to not only commercial grade coffees, but also RFA/OCIA, organic, Fairtrade, Bird Friendly and UTZ certifications among others, that are in high demand by major consuming countries globally due to sustainability initiatives.

Mr. Alain Piedra Hernandez, President and Owner of H&H and Director and Chairman of the Board of GHAV asserts “Grand Havana is a brand that folks from all walks of life associate with coffee, passionate people, romance, and most of all family!  H&H will provide the access to a global network of green coffee buyers so that the hard work and artisanal devotion of our producers can reach every cup.” Mr. Piedra added, “H&H taking the operational lead of GHAV will demonstrate to our shareholders the importance of a sustainable vertically integrated value chain.  Grand Havana will be synonymous with great coffee in all its forms.”

Updated Financials

GHAV’s new administration has made timely and accurate financial reporting a top priority.  OTC Pink status has been restored and all restrictions on GHAV common stock have been lifted.  Management will now focus on sharp revenue growth in Q4 and beyond while negotiating with legacy note holders to eliminate debt and reduce derivative liabilities on the balance sheet. Mr. Julio Sera, Director and COO of GHAV underscores “that drastic reduction in legacy debt and revenue generation will be core competencies moving forward”, and he added “as well as cost reduction strategies and the winding down of any operational concerns yielding negative results.  We take our fiduciary duty to the shareholders of GHAV very seriously.”

Most importantly, GHAV has recently completed its first funding round under the new administration and paid back the investor funds ahead of schedule. These funds were earmarked for working capital needs and secured by green coffee inventories; a first for GHAV. Proficiency in scaling the green coffee sales and distribution aspects of our new vision will be a key part of building shareholder value.

Moving Forward

Streamlining B2B food service offerings and designing a new franchise and licensing model are strategies also being explored. Mr. Sera noted “E-commerce could be a driver, while the passion behind the Grand Havana name, logo and identity represent genuine franchising opportunities”.  Mr. Piedra added, “we anticipate closing on new contracts for over $5,000,000 of green coffee sales to major US roasters, brokers, and multinational coffee distributors.  The 2022/2023 coffee year is now underway and fresh coffees are already flowing through our collection stations at origin.” “This is an exciting time for Grand Havana! As a Founder, I am thrilled that new life has been breathed into our beloved brand”, says Ms. Tanya Bredemeier, CEO. 

About Grand Havana, Inc.

Grand Havana is a coffee company headquartered in Miami, Florida “The Capital of Espresso in the US.”

Through our subsidiary, Grand Master Brands, LLC we are a global distributor of the finest green coffees that include not only commercial grade but also premium certified offerings such as Rainforest Alliance, organic, Fairtrade, UTZ, Bird Friendly among others.  Grand Havana roasted coffee products are distributed by Sysco, Ambassador Foods and Amazon. Our b2b programs proudly serve our coffees in corporate offices, airports, universities, non-traditional avenues, supermarkets, convenience stores, hotels, and online marketplaces. With more than 10 million cups of coffee served nationwide, Grand Havana is the choice of consumers when the goal is connecting with the nostalgia and essence of the best cup of Cuban coffee. 

For more information, visit www.Grandhavanacoffee.com or email info@grandhavanacoffee.com.  Find out more about the company at www.Facebook.com/grandhavanacoffee, twitter.com/grandhavcoffee1, or www.instagram.com/grandhavanacoffee/

Forward-Looking Statements

Forward-looking statements and risks and uncertainties discussed in this release contain forward-looking statements. The words "anticipate," "believe," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape or manner of our future financial condition or stock price. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of latest information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Attachments

• Grand Havana Inc. Announces New Management and Directors, Fully Updates Financials
• Grand Havana Inc. Announces New Management and Directors, Fully Updates Financials