Metavesco and Local Choice Spirits Announce Joint Venture to Launch Limited Edition Bourbon Series

Rhea-AI Summary

Metavesco (OTC PINK:MVCO) has announced a joint venture with Local Choice Spirits to launch a -edition bourbon series at the historic Striped Pig Distillery in Charleston. This partnership replaces an initial acquisition plan due to OTC market conditions. Metavesco has purchased 8-year-old barreled aged bourbon from Local Choice Spirits, forming the basis for a premium bourbon line.

The collaboration leverages Local Choice Spirits' production capabilities, licensing, and distribution network for efficient market entry. Ryan Schadel, CEO of Metavesco, expressed excitement about partnering with a respected name in the spirits industry. Paula "Pixie" Dezzutti of Local Choice Spirits highlighted the venture's focus on quality and craftsmanship. The rare, small batch bourbon is expected to hit the market before year-end, with branding and availability details to be announced soon.

Positive

• Joint venture with award-winning Local Choice Spirits to launch premium bourbon line
• Acquisition of 8-year-old barreled aged bourbon for product development
• Access to Local Choice Spirits' production capabilities, licensing, and distribution network
• Expected market entry before year-end with a rare, small batch -edition bourbon

Negative

• Shift from initial acquisition plan due to unfavorable OTC market conditions

CUMMING, GA, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Metavesco, Inc. (OTC PINK:MVCO) is excited to announce the formation of a joint venture with award-winning Local Choice Spirits to launch a new limited-edition bourbon series at the historic Striped Pig Distillery, Charleston’s first distillery steeped in history back to 1838! The partnership follows an initial Letter of Intent for an acquisition, but market conditions in the over-the-counter (OTC) market have prompted a strategic shift toward this collaborative venture.

In this joint initiative, Metavesco has purchased 8-year-old barreled aged bourbon from Local Choice Spirits, laying the foundation for a premium bourbon line that combines the expertise of both companies. Together, they will develop a unique brand concept, leveraging Local Choice Spirits' acclaimed production capabilities. Additionally, Local Choice Spirits will provide licensing and distribution, enabling swift and efficient entry into key markets.

“We’re excited to shift gears and explore this new partnership with Local Choice Spirits,” said Ryan Schadel, CEO of Metavesco. “The opportunity to collaborate with such a respected name in the spirits industry allows us to introduce a high-quality product to our audience while capitalizing on Local Choice’s distribution expertise.”

Local Choice Spirits, known for crafting award-winning spirits and pushing the boundaries of innovation in the beverage industry, is thrilled to bring their resources and experience to this joint venture.

Paula “Pixie” Dezzutti commented, “The combination of rarity, quality, respect, collaboration, and local craftsmanship creates an attractive opportunity for the passionate MVCO shareholders to tie in with Local Choice’s artisanal narrative leading to future large-scale releases. An 8-year-old bourbon signals commitment to quality, developing complex flavors from the oak barrels marrying into the whiskey. The Metavesco/Local Choice Spirits partnership signals the same commitment to strengthening the bond between these two niche innovators.”

The joint venture is expected to bring this rare, small batch limited-edition bourbon to market before year end, with more details on branding and availability to be released soon.

About Metavesco

Metavesco is a web3 enterprise and digital asset innovator. The Company has bitcoin mining operations at hosted facilities in KY and IA. Through its wholly owned subsidiary, the Company operates Boring Brew, a specialty coffee company utilizing owned and licensed NFT IP as unique packaging.

About Local Choice and Striped Pig Distillery

The award-winning Striped Pig Distillery is a woman-owned, family-run, community-driven business, since 2010 marking its tenure as Charleston’s oldest distillery. Striped Pig helped revive the distillery scene in Charleston when it opened its doors in North Charleston in 2013, becoming the holy city’s first distillery since Prohibition. Its origin story is one of ‘great curiosity’ and a nod to some tongue-in-cheek US history, brought to life by their beloved Striped Pig mascot, Jackson. Since those early days, the Pig has continued its support of the community, expanded its lineup, received numerous accolades and awards, and has kept driving the distillery scene in Charleston and the wider industry forward with firsts, like the Bottled in Bond Bourbon release and launching the first bourbon on the blockchain.

Striped Pig Distillery is located at 2225-A Old School Drive Charleston, SC 29405

For more information about the distillery, Tours and Tastings, visit: http://www.stripedpigdistillery.com/ To purchase spirits online: https://stripedpigdistillery.com/shop/

Safe Harbor Statement

This press release contains statements that constitute forward-looking statements. These statements appear in a number of places in this press release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; and (iii) growth strategy and operating strategy. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees 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. More information about the potential factors that could affect the business and financial results is included in the Company's filings on otcmarkets.com.

CONTACT:
info@metavesco.com
(678) 341-5898

FAQ

What is the new joint venture announced by Metavesco (MVCO)?

Metavesco (MVCO) has formed a joint venture with Local Choice Spirits to launch a -edition bourbon series at the Striped Pig Distillery in Charleston.

What product is Metavesco (MVCO) developing through this joint venture?

Metavesco (MVCO) is developing a premium bourbon line using 8-year-old barreled aged bourbon purchased from Local Choice Spirits.

When is the new bourbon product from Metavesco (MVCO) expected to be released?

The rare, small batch -edition bourbon from Metavesco (MVCO) is expected to hit the market before the end of 2024.

How does the joint venture benefit Metavesco (MVCO)?

The joint venture provides Metavesco (MVCO) with access to Local Choice Spirits' production capabilities, licensing, and distribution network, enabling efficient market entry for their new bourbon product.