May 16, 2023 – Vancouver, British Columbia – Right Season Investments Corp. (TSXV: LITT) (“Right Season” or the “Company”) is pleased to announce that it has made a capital investment into privately held Turkish coffee company Kahvegibikahve, securing a 10.26% interest in the first to market innovator of Nitro-Sealed Fiber FiltreTM coffee filter bags, and whose innovation has resulted in consecutive years of +200% in YOY sales growth in 2020 and 2021.
Kahvegibikahve is an innovative beverage company focused on delivering high quality products in the form of coffee bags. Kahvegibikahve was started five years ago through a crowdfunding platform. Kahvegibikahye products are sold direct-to-consumer through its online platform and in over 2000 Turkish retailers. It’s Nitro-Sealed Fiber FiltreTM is biodegradable, simplifies brewing, and decreases the carbon footprint on a per cup basis by up to 95%.
The global coffee market exceeds $400 billion and the packaged retail coffee market, which is the target market, is a $95 billion a year market. Expected CAGR of the coffee pods market is 6.3% until 2026.
Kahvegibikahve forecasts that its coffee bags can reach 2% of the packaged coffee market and 0.5% of the overall coffee market share resulting in 24,000,000 euros in sales annually. Kahvegibikahve plans to use the proceeds received from Right Season to increase production capacity of its coffee bags to 10 million units per year, improve brand design and packaging, for increased marketing campaigns for global market and expansion of its products into Western Europe under the new brand called Dipcaf.
Right Season acquired a 10.26% interest in Kahvegibikahve by way of a direct capital investment of €200,000.00 (the “Investment”), which following the closing of the transaction provides an overall valuation of Kahvegibikahve of €2,050,000.00.
“We are very excited to close this investment. We believe Kahvegibikahve is set to disrupt and revolutionize the coffee industry with their innovative product. This investment positions Right Season on the ground floor to capitalize on this rapidly growing market,” stated Tyler Lewis, Right Season, CEO.
About Right Season Investments Corp.
Right Season Investments Corp. is a Canadian Venture Capital, Investment and Advisory Firm that strives to actively drive innovation and accelerate growth for its shareholders. Right Season invests capital into private and public companies that offer excellent growth opportunities.
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This news release includes certain “forward-looking statements” under applicable Canadian securities legislation, including with respect to the use of proceeds from the Investment. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties, and uncertain capital markets.
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