Minerco Achieves a Zero Balance on All Mature Convertible Notes
January 08 2015 - 9:15AM
Minerco Resources,
Inc.
(OTC:MINE), announces today that as of this week, the company has
completely satisfied its obligations under all existing, mature
Convertible Promissory Notes. All mature Minerco convertible notes
have a zero balance as the company completes the transition to more
traditional, non-dilutive financing.
V. Scott Vanis commented, "After years of heavily discounted
convertible notes from less than friendly lenders, we finally
turned the corner in 2014. Now, we start 2015 with a zero balance
on mature convertible notes. With our explosive product lines, our
world class management and now, our non-toxic balance sheet, we
believe our company will explode and evolve into a monster in
2015!"
Minerco also reports their Chief Executive Officer, V. Scott
Vanis, and Chief Financial Officer, Sam J. Messina III, exchanged
all of their Class B Preferred Stock for non-interest bearing (no
dividend) Class C Preferred Stock. The transactions were an even
monetary exchange; however, the Class C Preferred Stock holders are
not entitled to any dividends.
"Neither Sam nor I believe our shareholders should be
responsible for paying us a dividend. To correct this oversight, we
have forgiven all accrued interest earned under our Class B
Preferred Stock in the exchange to Class C. The zero balance of
mature convertible notes, our switch from Class B to Class C Stock
and many more upcoming events have and will continue to evidence
the company's commitment to our loyal shareholders," stated V.
Scott Vanis.
About VitaminFIZZ®
VitaminFIZZ is a lightly sparkling, flavor-filled, refreshing
beverage with an awesome boost of essential vitamins developed to
quench your thirst, naturally. VitaminFIZZ is caffeine free, is Non
GMO, has zero calories and contains 100% of recommended daily
Vitamin B3, B5, B6, B12 and Vitamin C. Awaken your taste buds. Now
that's refreshing. VitaminFIZZ comes in six flavors: Mango Orange,
Strawberry Watermelon, Lemon Lime, Black Raspberry, Strawberry
Lemonade and Coconut Pineapple. See more at: www.vitamin-fizz.com,
www.twitter.com/vitaminfizz and
www.facebook.com/drinkvitaminfizz.
About Minerco Resources, Inc.
Minerco Resources, Inc. (OTC:MINE), is the parent company of
Level 5 Beverage Company, Inc. (Level 5), a specialty beverage
company which develops, produces, markets and distributes a
diversified portfolio of forward-thinking, good-for-you consumer
brands. The Level 5 brand umbrella includes: VitaminFIZZ(R),
Vitamin Creamer(R), Coffee Boost(TM), The Herbal Collection(TM) and
LEVEL 5(R). http://minercoresources.com.
Public Disclosure
Details of the Company's business, finances and agreements can
be found as part of the Company's continuous public disclosure as a
fully reporting issuer under the Securities Exchange Act of 1934
filed with the Securities and Exchange Commission's ("SEC") EDGAR
database. For more information, please visit:
http://www.minercoresources.com. The above statements have not been
evaluated by the Food and Drug Administration (FDA). These products
are not intended to diagnose, treat, cure or prevent any
disease.
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Act of 1934 that are based upon current
expectations or beliefs, as well as a number of assumptions about
future events. Although we believe that the expectations and
assumptions upon which they are based are reasonable, we can give
no assurance that such expectations and assumptions will prove to
have been correct. Some of these uncertainties include, without
limitation, the company's ability to perform under existing
contracts or to procure future contracts. The reader is cautioned
not to put undue reliance on these forward-looking statements, as
these statements are subject to numerous factors and uncertainties,
including without limitation, successful implementation of our
business strategy and competition, any of which may cause actual
results to differ materially from those described in the
statements. We undertake no obligation and do not intend to update,
revise or otherwise publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of any unanticipated
events. Although we believe that our expectations are based on
reasonable assumptions, we can give no assurance that our
expectations will materialize. Many factors could cause actual
results to differ materially from our forward-looking
statements.
CONTACT: Jason Grimley
Spelling Communications
jasongrimley@spellcom.com
323-309-8714
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