Minerco Expected To Generate Revenues Earlier Than Projected

Rhea-AI Summary

Minerco, Inc. (OTC PINK:MINE) has accelerated its revenue generation timeline, now expecting to begin producing revenue as early as April 2021 instead of August 2021. This change is attributed to successful debt retirement, an acquisition in Jamaica, and readiness to manufacture psilocybin products. Additionally, the company reports a $2 million revenue boost from acquiring WLCCO. It is poised to produce micro-dosed psilocybin tablets, with an output capacity of one million tablets daily. The recent decriminalization of psilocybin in key cities enhances growth prospects for the company.

Positive

• Revenue expected to start in April 2021, ahead of the previous August 2021 forecast.
• Successful acquisition of WLCCO adds $2 million in immediate revenues.
• Capacity to produce one million micro-dosed psilocybin tablets daily.

Negative

• None.

ANN ARBOR, MI / ACCESSWIRE / March 26, 2021 / Minerco, Inc. "The Magic Mushroom Company" (OTC PINK:MINE) is pleased to inform shareholders and the psychedelics industry at large that it is on a positive track forward and expects to generate revenue much earlier than originally projected.

In earlier shareholder communications, the Company had set expectations of revenue generation of August 2021, following the retirement of debts, acquiring a Jamaican production facility, and purchasing equipment to manufacture psilocybin products. The Company has achieved these goals much earlier than expected and is pleased to announce it's on track for revenue generation for April 2021.

"The decriminalization of psilocybin across key cities across the nation has been encouraging for both the industry and the company, as it plans to purchase storefront locations in cities like Ann Arbor, Oakland, Santa Cruz, and now Washington, D.C., which was the latest geographic area to decriminalize psychedelic substances such as psilocybin," said Julius Jenge, Chief Executive Officer of Minerco, Inc. "With two growing revenue streams and a strengthening balance sheet, we expect to be at the forefront of providing micro-dosed tablets to decriminalized areas, while also being the go-to provider for academic institutions that are undergoing studies on psilocybin," concluded Mr. Jenge.

This significant change comes off the heels of the acquisition of WLCCO, a white-labeling CBD company, which has resulted in an immediate gain of $2 million in revenues for company shareholders.

In addition, the company is on track to begin the production of their proprietary micro-dose psilocybin tablets. The company recently purchased and assembled all of the necessary equipment to cultivate and process psilocybin mushrooms in its Jamaica ISO 9001 approved facility. The customized equipment has the capacity to generate one million units of tablets per day of micro-dose psilocybin tables. Each tablet will be 0.10g (one-tenth of a gram) in dose and will come in 30 count bottles.

To be added to the Company's investor email lists, please email bmiller@irpartnersinc.com.

About Minerco, Inc.
Minerco, Inc., "The Magic Mushroom Company" (OTC PINK:MINE), is the pioneering company specializing in the research, production, and distribution of psilocybin mushroom products ("Magic Mushrooms"). The Blockchain token SHRU can be used for purchases relating to psilocybin and cannabis. SHRU can be purchased at www.shrucoin.com. Consumers can also utilize the SHRUCOIN Pay app by visiting www.shrucoinpay.com. To learn more about Minerco, Inc. please visit www.minercoinc.com.

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Investor relations
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MINERCO, INC. FORWARD-LOOKING STATEMENTS
This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding the investment offerings and the terms thereof, are forward-looking statements. When used in this press release, words such as we "expect," "intend," "plan," "estimate," "anticipate," "believe," "should," or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Minerco Investor Relations
Phone: 323-380-4500

SOURCE: Minerco, Inc

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FAQ

When will Minerco (MINE) start generating revenue?

Minerco (MINE) expects to start generating revenue in April 2021, ahead of the previously projected date of August 2021.

What recent acquisition has Minerco made and how has it impacted revenues?

Minerco acquired WLCCO, resulting in an immediate gain of $2 million in revenues for shareholders.

What is the production capacity of Minerco's psilocybin tablets?

Minerco's facility can produce one million micro-dosed psilocybin tablets per day.

How has the decriminalization of psilocybin affected Minerco (MINE)?

The decriminalization of psilocybin in various cities enhances Minerco's growth opportunities in the psychedelics market.