Metavesco Explores Potential Acquisition of Historic South Carolina Distillery

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Jun 18, 2024, 08:55 ET

CUMMING, Ga., June 18, 2024 /PRNewswire/ -- Metavesco, Inc. (OTC PINK:MVCO), a web3 enterprise and digital asset innovator, announced today that it is exploring the potential acquisition of one of the oldest distilleries in South Carolina. The company has begun a formal due diligence process and is preparing to move quickly towards drafting a Letter of Intent.

Metavesco, Inc. CEO Ryan Schadel expressed his enthusiasm about the potential acquisition after visiting the distillery and meeting with its dedicated staff. "We are very excited about the opportunity to acquire this award-winning distillery," said Schadel. "The facilities are top-notch, and the team's commitment to excellence is evident. This acquisition would align perfectly with our strategy to expand our portfolio with high-quality brands."

While there is no guarantee that a deal will be finalized, Metavesco is committed to conducting thorough due diligence to ensure the potential acquisition meets the company's strategic goals and standards. The company aims to make a definitive decision in the coming days.

The distillery, renowned for its rich history and exceptional products, represents a significant opportunity for Metavesco to enhance its offerings and leverage the distillery's established reputation in the market.

About Metavesco

Metavesco is a web3 enterprise and digital asset innovator. The Company generates revenue as a crypto liquidity provider via decentralized exchanges such as Uniswap, and the Company farms tokens via Proof of Stake protocols. The Company has bitcoin mining operations at hosted facilities in TX, KY and IA. Through its wholly owned subsidiary, the Company operates Boring Brew, a specialty coffee company utilizing owned and licensed NFT IP as unique packaging.

Safe Harbor Statement

This press release contains statements that constitute forward-looking statements. These statements appear in a number of places in this press release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; and (iii) growth strategy and operating strategy. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is included in the Company's filings on otcmarkets.com.

SOURCE Metavesco, Inc.