Growers Direct Coffee Co. Inc. (fka GWDCQ)

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Growers Direct Provides Corporate Update and New Management
Aug 19, 2008 9:10:00 AM
Copyright Business Wire 2008
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SAN FRANCISCO--(BUSINESS WIRE)--

Growers Direct Coffee Company, Inc. (OTCBB: GWDC): announced today that the board of directors have appointed Mr. Mick Rynning as the new President and CEO of Growers Direct Coffee Company Inc. Interim President JD Douthitt will serve as Chairman of the board. Nepal Muhuri remains a director and interim CFO.

JD Douthitt, Chairman, stated, "Mick certainly has the credentials to lead this company and I share his vision of growth for the future. Execution is the key to success, and with Micks' proven track record of growth and management, I am confident the future of our company is in good hands."

Mick Rynning, the new President and CEO commented, "I firmly believe that our utmost success will be achieved through genuine and mutually-beneficial relationships, guided by solid strategic planning and timely tactical execution. Using a collaborative-leadership style, I intend to meet the demands of our customers, and to facilitate the success of our business partners as we forge the future together. Growers Direct Coffee Company has a business model that is uniquely positioned in today's marketplace, one that serves our coffee growers, while meeting consumer demand for best-in-class green coffee beans and artisan roasted coffees. We are just the conduit to facilitate and, as we execute, everyone in the pipeline will share in our collective success."

The new board is currently evaluating the state of our green coffee bean wholesale business, as well as our existing strategies for growth. After the review of our current strategies, affiliations and markets is complete, the board will announce its future plans regarding our "Tree-to-Cup" distribution model.

The new board has made arrangements with several sophisticated investors to provide adequate working capital for the next six months. Further long term financing strategies will be announced upon reaching agreement with the financiers.

Management is working very hard to file the currently due 10QSB, quarterly statement, for June 30, 2008 in a timely fashion.

Date and venue for the Annual General Meeting will be announced once determined by the board of Directors.

Please contact Robert Barker for green bean coffee sales at 510-204-9424

For more information about our coffee products, visit our website at www.growersdirectcoffee.com Our wholly owned subsidiary, Uncommon Grounds Inc., established in 1984, is a coffee roasting and wholesale company based in Berkeley, California. Visit the website at www.uncommongrounds.net to purchase artisan roasted blends and single origin coffee beans from Papua New Guinea, Jamaica, Sumatra, Columbia, Brazil and Nicaragua.

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 the Company'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 the Company's coffee; (2) the ability of the Company to execute its business plan; and (3) other factors detailed in the Company's public filings with the SEC. By making these forward-looking statements, the Company 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 our Annual Report on Form 10-KSB and our 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.

Source: Growers Direct Coffee Company, Inc.