GREENE CONCEPTS, INC.
MARION, N.C., April 10, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – Greene Concepts, Inc. (OTC: INKW) (greeneconcepts.com) (“Greene Concepts” or the “Company”), an emerging leader in the global scientifically formulated beverage industry, is excited to update shareholders as the Company moves toward the launch of its specialty beverage operations through its wholly-owned subsidiary, Mammoth Ventures, Inc (“Mammoth Ventures”).
As announced in February, the Company recently completed the 100% acquisition of Mammoth Ventures in a deal that included a 60,000 sq. ft. beverage and bottling facility in Marion, NC. This acquisition included all assets held by Mammoth Ventures, including the building housing the bottling facility, and all bottling equipment, fixtures, and inventory within.
The Company plans to use this facility, which had been strictly dedicated to the production and distribution of spring and artesian water, to produce high-margin products targeting the $1.08 trillion health and wellness space.
“Over the course of the past decade, the business of bottling standard spring and artesian water has been commoditized aggressively resulting in the loss of premium margins,” stated Karen Howard, CEO of Greene Concepts. “That shift has devalued related production equipment and introduced the potential to transition an excellent facility like this into a higher margin space, such as the scientifically formulated beverage market, which is a clear opportunity.”
The equipment within the facility is professional grade and in excellent working condition. The productive capacity of the facility equates to approximately 8 million cases per year, which represents approximately 192 million individual bottles per year. Additionally, Mammoth’s 60,000 sq. ft. facility provides ample room for future expansion of capacity or extension to include the production of other core life enhancement products.
Management notes that Mammoth will be focusing on nutritional beverage products for the average consumer looking for general life enhancement, as well as specialty markets such as athletic performance product market and the rapidly growing senior care market.
Ms. Howard continued, “Mammoth is a diamond in the rough. We believe this facility was hugely undervalued due to the loss of premium margin in the water space because it can just as easily be used to produce high-quality high-margin formulated beverages, where consumers are eager and willing to pay $2-$3 per unit for flavor-infusion and $5-$10 per unit for more advanced formulated beverages. This is a no-brainer.”
About Greene Concepts, Inc. and Mammoth Ventures Inc.
Greene Concepts, Inc. (http://www.greeneconcepts.com) is a publicly traded company. Through its recently acquired wholly-owned subsidiary, Mammoth Ventures Inc., the Company has entered into the specialty beverage and bottling business.
Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Greene Concepts, Inc.
Investor Relations
info@mammothventuresinc.com
