NoHo, Inc. Signs Definitive Agreement to Acquire 51% of the Alvarado Gold Mine in Arizona

Rhea-AI Summary

NoHo (OTC: DRNK) has signed a definitive agreement to acquire a 51% controlling interest in the Alvarado Gold Mine in Arizona. The mine consists of 7 unpatented and 12 patented mining claims.

The company plans to initiate gold leaching operations using previously mined, unprocessed ore within 2-3 weeks, with expected revenue generation starting in September 2025. CEO Anthony Anish indicated this acquisition represents the first step in NoHo's broader growth strategy, with additional strategic transactions anticipated in the near future.

Positive

• Acquisition of controlling 51% stake in Alvarado Gold Mine
• Revenue generation expected to begin as early as September 2025
• Immediate opportunity to process existing ore without new mining required
• Strategic expansion into gold mining sector

Negative

• Acquisition cost and terms not disclosed
• No specific revenue projections provided
• Unpatented claims may carry certain risks and limitations

LAS VEGAS, Aug. 27, 2025 /PRNewswire/ -- NoHo, Inc. (OTC: DRNK) ("NoHo" or the "Company") is pleased to announce it has executed a binding purchase agreement to acquire a controlling 51% interest in the Alvarado Gold Mine, located in Arizona.

The Alvarado Gold Mine comprises seven (7) unpatented mining claims and twelve (12) patented claims. Immediate opportunities exist to commence gold leaching operations utilizing previously mined ore, which has not yet been processed. The Company anticipates beginning these activities within two to three weeks and expects to generate initial revenue as soon as September.

"This acquisition marks the first step in executing NoHo's broader growth strategy," commented Anthony Anish, CEO of NoHo, Inc. "We are delivering on our business plan and expect to close additional strategic transactions in the near future. We remain committed to keeping our shareholders informed as developments occur."

About NoHo, Inc.

NoHo, Inc. (OTC: DRNK) is transforming into a diversified global holding company with interests spanning mineral resources (including mine operations in California and Arizona), and minority holdings in an AI company. It also includes its innovative Smog Armor paint which significantly reduces indoor pollution by just painting the interior walls of your home or business, its concrete blocks that reduce and store CO2 from the air reducing the carbon footprint and Cool Crete, a concrete additive that tackles the growing issue of urban heat and the urban island effect.

The Company continually seeks out and invests in forward-thinking, environmentally responsible technologies including mineral extraction systems designed to minimize environmental impact.

NoHo's intent is to inspire global adoption of sustainable, eco-conscious lifestyles, supporting this through the development and commercialization of cutting-edge, environmentally friendly products and solutions. Alongside ongoing mining initiatives, NoHo is actively expanding into the FinTech sector, targeting investments in profitable companies with proprietary software platforms to drive sustained long-term growth.

Forward-Looking Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, plans for environmentally friendly initiatives, potential mineral extraction processes, expansion into AI and Fintech. Such statements are based on current expectations and are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those expressed or implied. These risks include, but are not limited to, regulatory approvals, technological feasibility, market conditions, the successful issuance of warrants, and other factors detailed in NoHo's filings with the Securities and Exchange Commission. NoHo undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statement is not a guarantee of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's statements and reports filed with the OTC Markets. The Company claims the safe harbors provided by the Private Securities Litigation Reform Act of 1995 and Section 21E(c) of the Exchange Act for all forward-looking statements.

 

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SOURCE Noho Inc.

FAQ

What is the ownership stake NoHo (DRNK) is acquiring in the Alvarado Gold Mine?

NoHo is acquiring a 51% controlling interest in the Alvarado Gold Mine located in Arizona.

How many mining claims does the Alvarado Gold Mine include?

The Alvarado Gold Mine includes 7 unpatented mining claims and 12 patented claims.

When does NoHo (DRNK) expect to begin generating revenue from the Alvarado Gold Mine?

NoHo expects to begin generating revenue as early as September 2025, following the commencement of gold leaching operations within 2-3 weeks.

What are NoHo's (DRNK) immediate plans for the Alvarado Gold Mine?

NoHo plans to commence gold leaching operations using previously mined, unprocessed ore within 2-3 weeks of the announcement.

What is NoHo's (DRNK) strategy following the Alvarado Gold Mine acquisition?

According to CEO Anthony Anish, this acquisition is the first step in executing NoHo's broader growth strategy, with additional strategic transactions expected in the near future.