Metavesco Explores Potential Acquisition of Historic South Carolina Distillery
Metavesco (OTC PINK: MVCO), a web3 and digital asset company, announced its exploration of acquiring a historic distillery in South Carolina.
The firm has initiated a due diligence process and plans to draft a Letter of Intent shortly. CEO Ryan Schadel expressed excitement about the acquisition, noting the distillery's award-winning status and alignment with Metavesco's strategy for brand expansion.
The distillery's rich history and market reputation could significantly enhance Metavesco's offerings.
While there is no certainty of a deal, Metavesco aims to make a definitive decision soon.
- Potential acquisition aligns with Metavesco’s strategic goal of expanding its high-quality brand portfolio.
- The distillery is award-winning and has a well-established market reputation.
- CEO Ryan Schadel has expressed strong enthusiasm for the project after an on-site visit, indicating solid leadership support.
- The formal due diligence process indicates a structured and thorough approach to the potential acquisition.
- There is no guarantee that the acquisition will be finalized.
- The financial details and potential costs associated with the acquisition have not been disclosed, creating uncertainty for investors.
- The announcement is speculative at this stage, as it is in the early stages of due diligence with no definitive agreement yet.
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.
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SOURCE Metavesco, Inc.
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