MARION, N.C., Feb. 07, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Greene Concepts, Inc. (OTC: INKW) announced today that the Company has completed the 100% acquisition of Mammoth Ventures Inc., a holding company which includes the 60,000 sq. ft. beverage and bottling facility located just outside of Asheville, NC. The acquisition of the holding company also includes the building, all bottling equipment, fixtures, inventory and any and all other assets held and owned by Mammoth Ventures Inc. This is a 100% acquisition of Mammoth Ventures Inc. and its assets, including the bottling facility, are now a wholly-owned subsidiary of Greene Concepts Inc.
The bottling facility is located in the heart of the foothills of the Appalachian Mountains within the boundaries of the Pisgah National Forest near the base of Mount Mitchell, the highest peak in Eastern North America. With the production lines that are currently in place the facility has the capacity to produce approximately 8 million cases per year. Within the present facility, there is plenty of room to expand with additional bottling lines for future growth.
Lenny Greene, interim CEO of Greene Concepts Inc., stated, “I am very pleased to be a part of Greene Concepts acquisition of Mammoth Ventures and the North Carolina bottling facility. This acquisition will greatly enhance the balance sheet of Greene Concepts with the addition of a major asset on the books in addition to the growth potential for the company within the specialty beverage industry. I am very happy for all of our shareholders. The Company will soon be announcing the incoming transition of a much respected new management team.”
Please watch for additional information and announcements from the Company via press releases and stay tuned on social media as well. Follow the Company on Twitter https://twitter.com/GreeneConcepts
The Company’s share structure is 673,112,467** shares of common stock outstanding with a float of remaining at 109,466,205.
** An accounting error and subsequent adjustment from a past transaction with a broker/dealer required the outstanding share count to recently be adjusted by 66 shares.
About Greene Concepts, Inc. and Mammoth Ventures Inc.
Greene Concepts, Inc. ( http://www.greeneconcepts.com/ ) is a publicly traded company and through its newly acquired wholly-owned subsidiary Mammoth Ventures Inc. has entered into the specialty beverage and bottling business.
Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Greene Concepts, Inc. Investor Relations investors@inkway.com
