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Investment Firm Acquires Minerco, Announces Launch of Psilicybin, "Magic Mushroom" Business Model

Newsfile Corp.

Company Headquarters to Be Relocated to the Island Nation of Jamaica

Kingston, Jamaica--(Newsfile Corp. - January 16, 2020) - Minerco, Inc. (OTC Pink: MINE) ("Minerco" or the "Company") announced today that the Company has been acquired by a specialized investment firm. The Company plans to immediately enter into the psilocybin "Magic Mushrooms" market, targeting the multibillion-dollar space in the research and development of potential psychiatric medicines, while relocating the Company's headquarters to Jamaica.

Mushrooms InterNational Enterprises or MINE, is positioned to become the world's first publicly traded company in the business of developing, marketing and distributing psilocybin mushrooms, also known as magic mushrooms or psychedelic mushrooms.

The Company anticipates relocating its corporate offices to Jamaica, where the country does not have any laws labeling magic mushrooms as illicit drugs. In fact, Jamaica is at the forefront in furthering research into the healing powers of magic mushrooms and how they can be safely applied towards medicinal purposes. This, following the launch of the world's first magic mushroom research center, located at the University of the West Indies in Mona, Jamaica.

"With this acquisition, we look forward to research, growing and production of our psilocybin "magic mushroom". Our goal is to find the most effective strategies in producing and extracting the psilocybin from within the mushrooms," stated Julius Jenge, Chief Executive Officer of Minerco, Inc.

About Minerco, Inc. (OTC Pink: MINE)

Minerco, Inc. (OTC Pink: MINE), which was acquired by psilocybin research and investment firm Mushrooms International Enterprises, is emerging as the world's first publicly traded company focused on the research, production and distribution of psilocybin mushrooms.

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.

Contact Information:

Minerco, Inc.
Investor Relations

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51524