Special Advisory: Salada Foods Jamaica Limited (SALF)

November 15, 2018

Salada Foods Jamaica Limited (SALF) has advised that the Company has decided to purchase 25,000 boxes of cherries from coffee farmers and process same to green beans. The cost of this initiative is approximately $200 million, with $100 million to be paid directly to farmers. The balance will be used to process coffee cherries to green beans coffee which is the raw material used by SALF to manufacture its instant coffee products. SALF further advised that the project is anticipated to fully commence in the month of December 2018. If the project proves meaningful for local farmers and SALF, it will form part of the Company’s business model for continued local manufacturing of its instant coffee products.