Minerco to earn 60% Equity & Control of Priwen to Accelerate Revenues & Technology Holdings
HOUSTON, Feb. 27, 2018 /PRNewswire/ - Minerco, Inc. (OTC PINK: MINE), a cutting-edge brand management and holding company, announced today the company has signed a memorandum of understanding (MOU) to acquire controlling interest in Priwen Systems Inc., a Cryptocurrency Mining and Technology company. Minerco has been looking to acquire several assets that fit within its business model to increase revenues and shareholder value of the company. Priwen is the first targeted acquisition for Minerco to grow its holdings portfolio.
Priwen is well established in both the technology and crypto mining industries. Priwen not only efficiently mines Bitcoin and Litecoin but also designs, manufactures and is well positioned to sell mining equipment for the GPU (Etherium, etc.) market. The acquisition by Minerco allows Priwen to exponentially grow its business in the very short term. Growth is expected to come from the mining (both scope and volume), hardware manufacturing sales as well as related accessories, software development and expert consulting services to miners across the globe. More about Priwen, below.
Gordon Macfie, CEO of Priwen stated, "After entertaining many offers, we chose to work with Minerco with the goal of growing our business exponentially. The crypto mining industry is exciting, but more importantly, Minerco shows a clear understanding of the industry, its challenges and shares our vision for the future of crypto mining and ancillary technologies. Minerco clearly values being nimble and innovative and working at lightning speed. No other potential investor came close to demonstrating this much vision and operational prowess. This is the beginning of a long and fruitful relationship."
Minerco's acquisition of Priwen will not miss an operational beat. The current management of Priwen will continue to run the business. Minerco will provide guidance, exposure and capital to further develop Priwen's growth strategy, but the operations will be seamlessly handled by Mr. Macfie and his expert team.
"We are very pleased to be acquiring Priwen Systems Inc. and welcome Mr. Macfie's team to the family. We have already secured the funding for this acquisition, so we expect to be fully through the process and closed within thirty days. This is exactly the type of company we have been looking for," stated V. Scott Vanis, CEO of Minerco, Inc. "Priwen's business is one of the most exciting markets in the world today. Priwen has proven executives in an existing yet young market, and it has tremendous upside potential to quickly increase shareholder value. We will update shareholders as this acquisition is completed and other acquisitions / partnerships come to terms."
Minerco, Inc. (OTC PINK: MINE) is a cutting-edge brand management and holding company specializing in the development of beverage, entertainment, and related ancillary brands. The current Minerco beverage brand umbrella includes VitaminFIZZ® and The Herbal Collection™. Our entertainment company, Fuse Live Events, supplements our portfolio through the generation, production and promotion of premium quality live entertainment such as concerts, festivals and other live events. Minerco is always seeking new opportunities to expand our portfolio, whether the brands are well established or startups. Our exposure, databases, and access to capital provide opportunities and high-level exposure most brands can only dream about.
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Priwen Systems Inc. is a Montreal, Canada based company with a background in the technology, telecommunications, engineering and manufacturing industries. Priwen developed a specialty in the area of reliable industrial-grade products.
With the rise of the cryptocurrency market, Priwen's emphasis started to shift to mining as of Q1 2017. The engineering knowledge gained from the original activities of the company became transferable and very useful upon pivoting to the cryptocurrency industry. This knowledge base led to the purchase of miners in Q1 2017 and the mining of Bitcoin and Litecoin. During this proof of concept phase, Priwen was able to prove both financial and engineering viability.
While deriving revenues from crypto mining in the low cost environment of Montreal Canada will remain a core part of the business plan, the preceding skillset has led to a firm which can not only be a service oriented company, but also have a product and IP focus. Priwen is developing into an integrated digital currencies company with the ability to deploy, maintain, enhance and build miners and accessories not only with the objective of growing its own mining farm, but with the goal of an offering that makes the company a core player in the crypto mining landscape.
The Priwen team consists of both solid engineering and operational talent. This will enable solid execution of the business plan. As the industry grows, it will also permit the company to work with any new trend. Crypto mining and Blockchain in general are high-growth markets, but all while remaining focused, Priwen is flexible and uniquely positioned to adjust to new industry trends, some of which the company already envisions and are preparing for today.
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 Minerco, Inc.