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, announced today that the LEVEL 5™ flagship products, RISE™ and COFFEE BOOST™, have expanded into over 250 retail locations in Southern California and Arizona.
Initial production runs and distribution of new products, such as RISE™ and COFFEE BOOST™, are typically used to gauge demand and consumer trends. Level 5 is happy to announce that demand throughout our retail distribution, network including Amazon.com, have exceeded expectations. Store locations and online links are available from the LEVEL 5™ brand websites:
http://www.level5energy.com
http://www.drinkcoffeeboost.com
Additional COFFEE BOOST™ products (in French Vanilla, Hazelnut and Mocha) have completed the formulation and design stages and have been formally approved by the entire Level 5 executive and advisory boards. The retail trials are scheduled to begin in November.
The LEVEL 5™ brand will soon add CURVES, ARMOR and FLEX to the product lineup. These products are in the re-formulation and design stage of development. We expect to release the full suite of LEVEL 5™ products to the marketplace in a similar fashion as the launch of our flagship products as soon as they complete all development stages and trials.
Yesterday, October 29, 2013, the Company issued a Notice of Repayment of Convertible Promissory Note confirming our intentions to prepay the Convertible Note, dated May 14, 2013 with Asher Enterprises, Inc. in the principal amount of $47,500 (the “Note”), within three (3) trading days. The Note is the Company’s last and final convertible promissory note with Asher Enterprises, Inc.
The Company also filed an extension for our annual report (Form 10-K) with the Securities and Exchange Commission (SEC) in an effort to incorporate more operational and financial milestones which may become available in the coming days. Regardless of the inflow of additional information, we will file our annual report within the guidelines set out by the SEC.
John Powers, the CEO of the company said, "The 250 store mark is big milestone for our young, growing company, but we are nowhere close to satisfied. We have come a long way in a short period of time, but we are just getting started. We are controlling our growth so that we may expand responsibly without sacrificing quality of our amazing products. Perhaps the best news of the week is our prepayment of our last convertible note with un-favorable terms. We are finally in a position to borrow money on our terms that deliver value, not liabilities, to our company and its shareholders. Another great month for Minerco – Level 5! More and better to come!”
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). This product is 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.
Source: Business Wire (October 30, 2013 - 8:45 AM EDT)
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