ProfitScout
3 months ago
$MVCO News: Metavesco Acquires Assets From Epic Labor
CUMMING, Ga., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Metavesco, Inc. (OTC PINK:MVCO), a pioneering holding company focused on acquiring, operating, and nurturing innovative businesses in both digital and traditional sectors, is pleased to announce the successful acquisition of key assets from Epic Labor, Inc., a Georgia-based provider of on-demand temporary staffing solutions.
Under the terms of the agreement, Metavesco, through its newly created wholly owned subsidiary Epic Labor, Inc., has acquired customer contracts, tangible assets, and the operating assets of the Nashville and Knoxville, TN branch offices of Epic Labor, Inc. d/b/a laborSMART. Metavesco will assume certain liabilities necessary for the ongoing operations of the business and the branch offices will be rebranded under the Epic Labor trademark, owned by Metavesco.
Ryan Schadel, CEO of Metavesco, commented, “I am thrilled to finally have this acquisition completed. The staffing industry generates over $200 billion in revenue per year in the US alone. This acquisition aligns perfectly with our strategic vision of diversifying our holdings and investing in industries that provide resilient, long-term growth. We are going to build something amazing with the Epic Labor brand and we are going to Build in Public.”
The transaction was completed on September 27, 2024.
About Metavesco
Metavesco is a diversified investment holding company focused on acquiring and managing assets across multiple sectors, including bitcoin mining, consumer packaged goods, and staffing services. The company is dedicated to long-term growth through strategic acquisitions and innovative market solutions.
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.
CONTACT:
info@metavesco.com
(678) 341-5898
SOURCE: Metavesco, Inc.
Trooperstocks
3 months ago
Ryan Schadel, CEO of Metavesco, commented, "I am thrilled to finally have this acquisition completed. The staffing industry generates over $200 billion in revenue per year in the US alone. This acquisition aligns perfectly with our strategic vision of diversifying our holdings and investing in industries that provide resilient, long-term growth. We are going to build something amazing with the Epic Labor brand and we are going to Build in Public."
The transaction was completed on September 27, 2024.
About Metavesco
Metavesco is a diversified investment holding company focused on acquiring and managing assets across multiple sectors, including bitcoin mining, consumer packaged goods, and staffing services. The company is dedicated to long-term growth through strategic acquisitions and innovative market solutions.
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.
CONTACT:
info@metavesco.com
(678) 341-5898
SOURCE: Metavesco, Inc.
ProfitScout
3 months ago
Metavesco and Local Choice Spirits Announce Joint Venture to Launch Limited Edition Bourbon Series
CUMMING, GA, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Metavesco, Inc. (OTC PINK:MVCO) is excited to announce the formation of a joint venture with award-winning Local Choice Spirits to launch a new limited-edition bourbon series at the historic Striped Pig Distillery, Charleston’s first distillery steeped in history back to 1838! The partnership follows an initial Letter of Intent for an acquisition, but market conditions in the over-the-counter (OTC) market have prompted a strategic shift toward this collaborative venture.
In this joint initiative, Metavesco has purchased 8-year-old barreled aged bourbon from Local Choice Spirits, laying the foundation for a premium bourbon line that combines the expertise of both companies. Together, they will develop a unique brand concept, leveraging Local Choice Spirits' acclaimed production capabilities. Additionally, Local Choice Spirits will provide licensing and distribution, enabling swift and efficient entry into key markets.
“We’re excited to shift gears and explore this new partnership with Local Choice Spirits,” said Ryan Schadel, CEO of Metavesco. “The opportunity to collaborate with such a respected name in the spirits industry allows us to introduce a high-quality product to our audience while capitalizing on Local Choice’s distribution expertise.”
Local Choice Spirits, known for crafting award-winning spirits and pushing the boundaries of innovation in the beverage industry, is thrilled to bring their resources and experience to this joint venture.
Paula “Pixie” Dezzutti commented, “The combination of rarity, quality, respect, collaboration, and local craftsmanship creates an attractive opportunity for the passionate MVCO shareholders to tie in with Local Choice’s artisanal narrative leading to future large-scale releases. An 8-year-old bourbon signals commitment to quality, developing complex flavors from the oak barrels marrying into the whiskey. The Metavesco/Local Choice Spirits partnership signals the same commitment to strengthening the bond between these two niche innovators.”
The joint venture is expected to bring this rare, small batch limited-edition bourbon to market before year end, with more details on branding and availability to be released soon.
About Metavesco
Metavesco is a web3 enterprise and digital asset innovator. The Company has bitcoin mining operations at hosted facilities in 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.
About Local Choice and Striped Pig Distillery
The award-winning Striped Pig Distillery is a woman-owned, family-run, community-driven business, since 2010 marking its tenure as Charleston’s oldest distillery. Striped Pig helped revive the distillery scene in Charleston when it opened its doors in North Charleston in 2013, becoming the holy city’s first distillery since Prohibition. Its origin story is one of ‘great curiosity’ and a nod to some tongue-in-cheek US history, brought to life by their beloved Striped Pig mascot, Jackson. Since those early days, the Pig has continued its support of the community, expanded its lineup, received numerous accolades and awards, and has kept driving the distillery scene in Charleston and the wider industry forward with firsts, like the Bottled in Bond Bourbon release and launching the first bourbon on the blockchain.
Striped Pig Distillery is located at 2225-A Old School Drive Charleston, SC 29405
For more information about the distillery, Tours and Tastings, visit: http://www.stripedpigdistillery.com/ To purchase spirits online: https://stripedpigdistillery.com/shop/
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.
CONTACT:
info@metavesco.com
(678) 341-5898
ProfitScout
3 months ago
$MVCO news on expansion plans: Metavesco Executes Letter of Intent to Acquire Striped Pig Distillery and Local Choice Spirits
CUMMING, Ga., Aug. 16, 2024 /PRNewswire/ -- Metavesco, Inc. (OTC PINK:MVCO), a web3 enterprise and digital asset innovator, today announced the execution of a non-binding Letter of Intent (LOI) to acquire Striped Pig Distillery and Local Choice Spirits of Charleston.
Founded as one of South Carolina's oldest distilleries, Striped Pig Distillery has garnered multiple awards for its exceptional craft spirits. Local Choice Spirits has established a reputation for innovation and quality, solidifying its place in the market.
The two companies are led by visionary entrepreneur "Pixie" Paula Dezzutti. Pixie is recognized as a top influencer in SC in 2024, listed by Forbes as "Top 50 Over 50" in 2023, and recipient of the International Woman of the Year Award by the Atlanta Chamber of Commerce in 2022. She has been a prominent figure in the industry, not only for her business acumen but also for her contributions to the broader business community. Listed by INC 5000 as one of the fastest growing companies of the Southeast, and SC Top 50 Fastest Growing Businesses, Local Choice and Striped Pig have plans to unveil an event center for its patrons. Upon closing this transaction, Ms. Dezzutti will be appointed as Chief Executive Officer of Metavesco, Inc.
Post acquisition, the businesses will operate as wholly owned subsidiaries of Metavesco, Inc. Highlights of the combined businesses include:
Approximately 1000 barrels of aged bourbon, valued at over $18,000,000 retail
16 active product skus including vodkas, rums, gins, whiskeys, and tequila
Product distribution in 20 states and ecommerce availability in most
Distillery capable of producing 300 high quality bourbon barrels annually
World class management team with over 100 years combined industry experience
At closing, Metavesco will issue a combination of 2-year restricted common stock, preferred stock, and a 2-year convertible note in the amount of $2 million. Additionally, the Company will assume approximately $1.2 million in debt owed collectively by the acquired businesses.
Metavesco, Inc. CEO Ryan Schadel stated, "I'd like to say this was a tough decision since it means I'll be stepping down as CEO, but it wasn't a tough decision at all! Ms. Dezzutti's appointment as CEO will be a huge win for shareholders and she is poised to usher in a new era of innovation and growth. With a distinguished career that spans entrepreneurial success, industry recognition, and thought leadership, Pixie has consistently demonstrated an extraordinary ability to drive transformation and excellence. Her accolades, including her role as a featured panelist at the Atlanta Chamber of Commerce's seminar on NFTs, cryptocurrencies, and Blockchain 3.0, along with her Amazon best-selling book, Alphabet Soup, outlining her pioneering NFT Bourbon release, underscore her forward-thinking approach and deep industry insight. She's a force to be reckoned with and I believe Metavesco shareholders will be in good hands with her at the helm."
Ms. Dezzutti stated, "Our team at Striped Pig Distillery and Local Choice Spirits has dedicated years to perfecting our craft, building a strong, regional brand of which we're incredibly proud. This acquisition is the perfect opportunity to expand our reach and bring award-winning spirits to a national audience. The multi trillion-dollar beverage business needs pioneers to lead the charge in a quickly paced changing landscape. I am excited to lead Metavesco into this new era of growth and innovation and am confident that together we will achieve extraordinary success."
While there is no guarantee that a deal will be finalized, all parties are working aggressively to prepare and execute a definitive purchase agreement with a 30-day closing deadline.
About Metavesco
Metavesco is a web3 enterprise and digital asset innovator. The Company has bitcoin mining operations at hosted facilities in 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.
Cision View original content:https://www.prnewswire.com/news-releases/metavesco-executes-letter-of-intent-to-acquire-striped-pig-distillery-and-local-choice-spirits-302223852.html
SOURCE Metavesco, Inc.
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