VISTA, Calif., U.S. – NuZee, Inc. (“NuZee” or “the Company”), a specialty coffee company and a leading U.S. single serve pour over coffee producer and co-packer, announced yesterday that it has closed $4,076,262 private placement equity financing.
The Company sold 696,797 shares of common stock at a price of $5.85 per share. These sales were conducted during the period April through July 2019.
Net proceeds will be used for general corporate purposes.
“The current private placement provides NuZee with funding for us to begin to execute our recently announced expansion plans for Vista, California and the creation of a new manufacturing hub in Plano, Texas,” said Masa Higashida, NuZee’s Chief Executive Officer. “As we continue to grow our co-packing business, we have timed the operational completion of our Texas facility to match our forecasted potential capacity constraints of our existing California operations.”
The Drip Cup is one of the most popular methods of enjoying coffee in Japan, where more than 2.5 billion cups are consumed each year. Each Drip Cup comes sealed in a single-serve, nitrogen-flushed package. Simply pass hot water over the ground coffee contained in the specially designed, perforated pouch for delicious coffee anywhere, anytime. The Drip Cup methods requires no machinery (just hot water) and creates minimal waste.
