Wednesday, August 30, 2017 4:36:32 PM
THIS ASSET PURCHASE AGREEMENT (the “Agreement”) is entered into and effective this 15th day of July, 2016 (“Effective Date”), by and among Minerco, Inc., a Nevada corporation, which is publicly traded on the Over-The -Counter Bulletin Board (OCTBB: MINE), and through its subsidiary, Athena Brands, Inc., a Nevada corporation, hereinafter referred to as the “Seller,” and Pacific Isle, Ltd., a Corporation formed and operated under the laws of Hong Kong, hereinafter referred to as the “Buyer”, (hereinafter sometimes referred to collectively as the “Parties”).
WHEREAS, as of the Effective Date, Seller owns One Hundred Percent (100%) of its subsidiary, Athena Brands, Inc., and Athena Brands, Inc. owns the controlling interest of Avanzar Sales & Distribution, LLC; and
WHEREAS, Seller desires to sell Buyer, and Buyer desires to purchase from Seller, One Hundred percent (100%) of all of the Seller’s rights, title and interest in and to Seller’s subsidiary, Athena Brands, Inc., formerly Level 5 Beverage, Inc. (“Athena”), including all Seller’s right, title and interest to Avanzar Sales & Distribution, LLC (“Avanzar”), more specifically defined in Schedule 2.0 attached hereto and incorporated herein by reference (hereinafter sometimes referred to as the “Asset”) for the consideration and upon the terms and subject to the conditions hereinafter set forth; and
WHEREAS, the Parties agree the specific brands of VitaminFIZZ and The Herbal Collection, and all associated intellectual property attached thereto, are excluded from this Agreement.
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