HOUSTON, TX, March 13, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Minerco, Inc. (OTCBB: MINE), a brand management and holding company specializing in the development of beverage, entertainment and ancillary brands, announced today that Mr. Milton Murcia has been named President, CEO, Principal Executive Officer and sole member of the Board of Directors of the company. All former executives and Board Members have resigned and are no longer associated with the company.
Mr. Murcia has worked more than fifteen years in the entertainment, restaurant and related fields. He has worked his way up from bartender/server up to General Manager to co-owner of multiple restaurant and entertainment companies. His full bio and history are available on the Minerco website at www.minercoinc.com. He will apply all of his experience and entrepreneurial skills to bring value and success back to the shareholders of Minerco.
Mr. Murcia, with a broad entertainment and food service background, plans to focus his energy on reviving the company’s once thriving entertainment company, Fuse Live Events. In addition, after months of due diligence and transition from old to new management, he believes there is great value in the beverage brands (especially if combined) that continue to be owned by the Minerco shareholders.
After the passing of the 2018 Farm Bill, Minerco has identified, and is ready to retain, beverage experts to infuse its vitamin enhanced water with the hottest functionality available on the market. Mr. Murcia believes the company’s access to beverage experts coupled with its large database of vitamin enhanced, coffee based, natural teas and many other beverage formulations are great assets that need to be utilized to deliver value to shareholders.
“I am honored and excited to have the opportunity to bring Minerco out of the shadows and into the sunlight again. I understand I will have to earn the trust of existing shareholders, many of whom feel abandoned. I plan to earn that trust and respect one step at a time, starting with no capital structure changes (stock splits) for the foreseeable future,” said Milton Murcia, new CEO of Minerco, Inc. “With my expertise in the entertainment space combined with incoming beverage experts, I know we can grow an amazing business that entertains and helps people while delivering value to our shareholders.”
Minerco’s new management has unwound all business arrangements regarding crypto mining and currency. The company is diligently working to catch up past financial filings and become current with regulatory authorities. The company is also reaching out to all lenders and creditors to better structure or temporarily freeze repayment terms. Former management and board members have resigned, effective January 31, 2019, and no longer have any control nor equity ownership in Minerco.
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.