Minerco Purchases Custom Equipment and Production Line To Produce 1M Psilocybin Micro-dose Capsules Daily

Rhea-AI Summary

Minerco (OTC:MINE) has announced the purchase of a custom micro-dose pill machine, aimed at significantly increasing production capacity for psilocybin tablets to 1 million units daily. This move positions the company to capitalize on the growing demand for psychedelics in legal markets. Recently, Minerco achieved three out of four key goals outlined at the Sankofa Shareholder Summit, including settling debt and launching its blockchain token, SHRU. CEO Julius Jenge expressed optimism for the company's future in the evolving psychedelic industry.

Positive

• Acquired custom micro-dose pill machine to produce 1 million psilocybin tablets daily.
• Achieved three out of four goals from the Sankofa Shareholder Summit.
• Full debt settlement with EROP capital enhances financial stability.
• Successful launch of blockchain token SHRU and payment application SHRUCOIN Pay.

Negative

• None.

Minerco completes purchase manufacturing and increases psilocybin production capacity

ANN ARBOR, MI / ACCESSWIRE / March 2, 2021 / Minerco (OTC:MINE) announced today that they have purchased a custom micro-dose pill machine. This strategic purchase puts MINERCO at the forefront of psychedelics increasing healing from psilocybin tablets worldwide. This machine will produce 1 million units daily. In markets where psilocybin is not legal, Minerco will manufacture medical mushrooms including Chaga and Lion Mane as legal alternatives.

Minerco leadership announced the company's four critical goals at the Sankofa Shareholder and Vision Summit held on January 24, 2021:

• Retire Debt
• Acquire the equipment necessary to manufacture 1 million micro dots daily
• Launch anticipated blockchain token SHRU
• Acquire a U.S. location to maximize operations both domestically and globally

On February 16, 2021, the company announced a full settlement of debt to EROP capital. As of March 1, 2021, the company successfully launched their Blockchain token SHRU and payment application SHRUCOIN Pay. With the acquisition of the machine, MINE's leadership have achieved three out of the four goals announced at the Summit.

The company is optimistic about these business developments. In light of this, Minerco CEO Julius Jenge released the following statement:

"Increasing the company's psilocybin tablet production capacity was a crucial goal to prepare the company for success as legal markets expand in the United States. We are fully prepared for the bright future of this newly legal industry and feel confident in the firm's ability to meet growing demand."

About Minerco Inc.

Minerco, Inc. The Magic Mushroom Company (OTC: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. visit them at www.minercoinc.com. To research Minerco, Inc's. stock histogram chart please visit OTC Markets at www.otcmarkets.com and search under the ticker MINE.

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MINERCO, INC. 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.

SOURCE: Minerco, Inc

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FAQ

What did Minerco announce on March 2, 2021 regarding psilocybin production?

Minerco announced the purchase of a custom micro-dose pill machine, increasing psilocybin tablet production capacity to 1 million units daily.

What are Minerco's goals discussed at the Sankofa Shareholder Summit?

Minerco's goals included retiring debt, acquiring manufacturing equipment, launching the blockchain token SHRU, and acquiring a U.S. operational location.

How has Minerco improved its financial position recently?

Minerco achieved a full settlement of debt with EROP capital, enhancing its financial stability.

What is the significance of the SHRU token for Minerco?

The SHRU token is used for purchases related to psilocybin and cannabis, indicating Minerco's integration with blockchain technology.

What is the main focus of Minerco's recent business strategy?

Minerco is focusing on increasing psilocybin production capacity to meet growing demand as legal markets expand.