Minerco Resources, Inc. Reduces Short Term Debt by $1,000,000 in Preparation for VitaminFIZZ(R) Launch
June 13 2014 - 9:40AM
Marketwired
Minerco Resources, Inc. Reduces Short Term Debt by $1,000,000 in
Preparation for VitaminFIZZ(R) Launch
HOUSTON, TX--(Marketwired - Jun 13, 2014) - Minerco Resources,
Inc. (OTCQB: MINE), the parent company of Level 5 Beverage Company,
Inc., a specialty beverage company which develops, produces,
markets and distributes a diversified portfolio of all-natural and
highly functional brands, reduced its short term liabilities by
approximately $1,000,000 (over 75% reduction) and provides update
on VitaminFIZZ® revitalization and CoffeeBoost™ expansion.
As documented in Minerco's filings with the Securities and
Exchange Commission, the Company has drastically, and
significantly, cleaned up its Balance Sheet by reducing its short
term debt obligations (mostly in form of Convertible Promissory
Notes) by approximately $1,000,000. This reduction in short term
debt represents over a 75% reduction in the Company's short term
debt.
The VitaminFIZZ® launch and CoffeeBoost™ expansion will directly
benefit from the reduction of short term debt, and our other Brands
and partnerships will also benefit from our improved and
advantageous financial health. In addition, many other potential,
future partners have taken notice of our accomplishments.
VitaminFIZZ® VitaminFIZZ® has been completely re-vitalized in
both packaging and formulation by our world class package
designers, beverage experts and advisory board. The imminent
bi-coastal launch will commence in New York City (June, 2014) and
will be available in Southern California soon thereafter. The
VitaminFIZZ® Twitter and Facebook pages have gone live at:
http://www.twitter.com/vitamin_fizz
http://www.facebook.com/drinkvitaminfizz
Let us know what you think of the new and re-vitalized
VitaminFIZZ®. The new VitaminFIZZ® website will be unveiled soon.
Watch for updates on our Twitter and Facebook pages.
CoffeeBoost™ CoffeeBoost™, the boosted formula in all flavors,
will be released at the same time as the new bottles of
VitaminFIZZ®. We continue to pursue partnerships for the next
generation of CoffeeBoost™ and have made substantial progress. In
fact, due to our market traction, multiple new distributors have
been forced to decline representation of CoffeeBoost™ and RISE™ at
the explicit request or demand of Living Essentials. While this is
slightly inconvenient for Level 5, we are honored to have attracted
the attention of the category leader.
V. Scott Vanis, the Chairman of the Company, said, "It has
always been one of our top priorities to get our Balance Sheet in
order to truly solidify our foundation. While we still have lots of
work to do, we are well on our way to being a fundamentally sound
company. With the anticipated sales of VitaminFIZZ® and
CoffeeBoost™, the expected income from our other partnerships and
our move away from Convertible Promissory Notes; we are very
excited about our current position and, more importantly, our
future. Our management, our products and our shareholders are
exceptional. Together, we plan to have many more take notice. The
launch of VitaminFIZZ® in New York City is now measured in days,
not months. As always, we will keep our shareholders and consumers
updated as events unfold."
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 C. Awaken your taste
buds. Now that's refreshing.
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: 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.
Please contact: Minerco Resources, Inc.
info@minercoresources.com V. Scott Vanis 888-473-5150
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