ATLANTA, GA, Dec. 27, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Yuengling’s Ice Cream Corporation’s (OTC PINK: ARSN) new President and CEO, Robert Bohorad, is pleased to provide an update to the market.
Dear shareholders and interested parties:
I realize that Aureus, Inc (“Aureus”), now Yuengling’s Ice Cream Corporation (“Yuengling’s), has not communicated with the market in a quite some time. So, I thought it is important, as the new President and CEO, to establish a line of communications.
It has been almost two months since I took over as President and CEO. But, I have been with the organization since the acquisition of Yuengling’s Ice Cream in June 2019. The past 2.5 years have been a bit of a struggle, but I am excited about our future. Almost a year ago, we made a strategic decision to focus on getting Aureus on stable footing. During that time, we completed our two-year financial audit, filed a Form 10 to become fully reporting, and have kept all of our quarterly filings current. Over the summer, we filed a Reg A and raised capital. In the fall, we formally changed the name from Aureus to Yuengling’s Ice Cream and I was promoted to President and CEO.
Taking over as President and CEO has provided me with the autonomy and incentive to develop some new ideas and move several initiatives forward. Unfortunately, as the saying goes, most good things take time. But, I know the market is not always patient. I will move things forward as quickly as possible. While information may have been lacking in the past, I will give my commitment to be more open and transparent in the future.
As for now, I am pleased to communicate the following:
Yuengling’s has signed a licensing agreement for the distribution of Yuengling’s Ice Cream in the Midwest. Our partner is still working out details, but we hope to begin producing for them in the spring of 2022.
We signed an LOI to manufacture and sell a complimentary consumer product. Some details are still being finalized, so we are not yet at liberty to provide details. We hope to provide more details by the end of February 2022.
We are in discussion to purchase a production facility. The LOI has not yet been signed but we hope that will occur in the next few weeks and close by the end of March 2022. We feel this will be a huge step forward for Yuengling’s. It not only will give us the ability to produce our own product but it will allow us to produce product for others, in a market where production capacity is often very scarce.
We have outlined a separate licensing agreement for Yuengling’s to produce a complementary frozen dairy dessert. We hope to finalize that agreement by the end of January 2022 and begin production in the spring of 2022.
These are just a few of the things we are working on and I am able to discuss. There will always be some details that I cannot share. Some information may violate confidentiality agreements. Some information may violate SEC disclosure rules. And, some information may be a trade secret and would not be wise to disclose.
We are looking to build a company and create value. Sometimes the stock price will go up and sometimes it will go down. I cannot control that. But, I can control what we do as a company. If we take care of our employees, take care of our customers, produce and sell great products, generate revenue, and earn profits, I believe the stock price will take care of itself.
Please feel free to email or post your questions or comments. I will not be able to answer people directly, but I will do my best to provide a response in my correspondence.
Robert C. Bohorad
President & CEO
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