Minerco Divests Energy Business Properties
May 11 2015 - 9:45AM
Minerco Resources, Inc. (OTC:MINE), parent company of Level 5
Beverage Company, Inc., the makers of the enhanced sparkling
beverage, VitaminFIZZ®, announced that it has divested its
remaining holdings in clean energy properties for a guaranteed
$715,000.00 over the next 12 months. Additionally, the company
announced today it has eliminated approximately $300,000.00 of
accrued liabilities through the reinvestment of preferred dividends
into equity. Together, these two transactions will create an
approximate $1,000,000.00 positive equity swing for Minerco
shareholders.
"On top of the remarkable success of our flagship product,
VitaminFIZZ, Minerco is completely out of the energy business.
Since 2012, our sole focus and mission has been on developing
progressive, healthful consumer brands and now our balance sheet
reflects this focus," said V. Scott Vanis, Minerco's Chairman and
CEO. "We are very pleased to continue to grow our shareholders'
equity by eliminating debt and adding assets in scope and divesting
of assets that are not squarely in our scope. All our actions and
transactions are designed to deliver added value to shareholders
and move forward in our goal to uplist to a major listed
exchange."
About Minerco Resources, Inc.
Minerco Resources, Inc. (OTC:MINE) is an emerging growth company
specializing in the food and beverage industry. Its portfolio
of businesses include Level 5 Beverage Company, Inc. (Level 5),
Avanzar Sales & Distribution, LLC and The Herbal Collection™.
Level 5 is a specialty beverage company that develops, produces,
markets and distributes a diversified collection of
forward-thinking, healthful consumer brands. Level 5 brands include
VitaminFIZZ®, Vitamin Creamer® and Island Style™.
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: Media Contact:
W. Jason Grimley
Spelling Communications
323-309-8714
jasongrimley@spellcom.com