HOUSTON, May 11, 2015 (GLOBE NEWSWIRE) -- 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.