SOURCE: Minerco Resources, Inc.
NASHUA, NH--(Marketwired - Mar 31, 2014) - Minerco Resources, Inc. (OTCQB: MINE) (the "Company"), the parent company of Level 5 Beverage Company ("Level 5"), a specialty beverage company which develops, produces, markets and distributes a diversified portfolio of all-natural and highly functional brands, announces collective and individual meetings with all of the Company's lenders and Note holders.
Note Holder and Lender Meeting(s)
Starting last week and continuing for the next few weeks, the Company has been and will be engaging all of our Note holders and lenders in private discussions concerning the tremendous opportunities, partnerships and challenges in front of Minerco and Level 5. We want to give all of our Lenders the opportunity to be equitable partners with Minerco and Level 5; however, Lenders unwilling to provide updated and/or equitable terms will be considered unfriendly. Minerco will finally have decisive control of our financings and is in a premier position to choose our Lenders (rather than Lenders choosing Minerco).
All friendly and equitable Lenders (partners) will participate in a collaborative meeting / conference call, currently scheduled for the week of April 14, 2014. These newest partnerships will help to clean up the Company's Balance Sheet, but more importantly, will provide the Company with financial stability and strength as we take the next steps in our business plan.
V. Scott Vanis, the Chairman of the Company, said, "This calendar year has been amazing, and we have been relatively quiet as we put some of the bigger pieces in place. The next piece is to sort lending partners from unfriendly Note holders. We know we have some very dedicated and loyal lending partners, and to them, we say 'Thank You! We look forward to a prosperous future together!' We are calling out each of our Note holders and Lenders: 'Who wants to be our partner, and who would like us to terminate the relationship permanently?' The Company hopes to have the financial partners sorted out by the end of April, so we may continue the next steps on a larger and healthier playing field. As always, we will keep you informed of developments and opportunities at the soonest opportunity."
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.