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Minerco, Inc. to Acquire Priwen Systems Inc., a Proven Cryptocurrency Mining & Technology Company
Minerco to earn 60% Equity & Control of Priwen to Accelerate Revenues & Technology Holdings
HOUSTON, Feb. 27, 2018 /PRNewswire/ - Minerco, Inc. (OTC PINK: MINE), a cutting-edge brand management and holding company, announced today the company has signed a memorandum of understanding (MOU) to acquire controlling interest in Priwen Systems Inc., a Cryptocurrency Mining and Technology company. Minerco has been looking to acquire several assets that fit within its business model to increase revenues and shareholder value of the company. Priwen is the first targeted acquisition for Minerco to grow its holdings portfolio.
Priwen is well established in both the technology and crypto mining industries. Priwen not only efficiently mines Bitcoin and Litecoin but also designs, manufactures and is well positioned to sell mining equipment for the GPU (Etherium, etc.) market. The acquisition by Minerco allows Priwen to exponentially grow its business in the very short term. Growth is expected to come from the mining (both scope and volume), hardware manufacturing sales as well as related accessories, software development and expert consulting services to miners across the globe. More about Priwen, below.
Gordon Macfie, CEO of Priwen stated, "After entertaining many offers, we chose to work with Minerco with the goal of growing our business exponentially. The crypto mining industry is exciting, but more importantly, Minerco shows a clear understanding of the industry, its challenges and shares our vision for the future of crypto mining and ancillary technologies. Minerco clearly values being nimble and innovative and working at lightning speed. No other potential investor came close to demonstrating this much vision and operational prowess. This is the beginning of a long and fruitful relationship."
Minerco's acquisition of Priwen will not miss an operational beat. The current management of Priwen will continue to run the business. Minerco will provide guidance, exposure and capital to further develop Priwen's growth strategy, but the operations will be seamlessly handled by Mr. Macfie and his expert team.
"We are very pleased to be acquiring Priwen Systems Inc. and welcome Mr. Macfie's team to the family. We have already secured the funding for this acquisition, so we expect to be fully through the process and closed within thirty days. This is exactly the type of company we have been looking for," stated V. Scott Vanis, CEO of Minerco, Inc. "Priwen's business is one of the most exciting markets in the world today. Priwen has proven executives in an existing yet young market, and it has tremendous upside potential to quickly increase shareholder value. We will update shareholders as this acquisition is completed and other acquisitions / partnerships come to terms."
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