ATLANTA, GA / ACCESSWIRE / June 20, 2019 / Aureus, Inc. (OTC PINK: ARSN), www.AureusNOW.com, a food brand development company that exclusively operates the online sales of Yuengling’s Ice Cream brand, as well as select Yuengling retail distribution, is thrilled to announce it has completed the acquisition of Yuengling’s Ice Cream (“Yuengling’s”). As indicted in an earlier press release, the Company executed a revised LOI to acquire 100% of the assets of Yuengling’s, instead of a stock purchase.
The asset purchase is structured as an Article 9 asset sale between Aureus and Yuengling’s senior lender, Mid Penn Bank. A direct result of this structure is the elimination of approximately $3 million in Yuengling’s liabilities, greatly improving the balance sheet of the combined Company.
“By reducing our liabilities and having access to capital through the public markets, the closing of the deal with Aureus provides a great platform to move Yuengling’s Ice Cream forward”, said Rob Bohorad, Yuengling’s CFO.
“Now that the acquisition is complete, we can really focus our efforts on new product development and new business development”, commented Everett Dickson, Aureus’ President.
David Yuengling, Yuengling’s President, added, “the acquisition does not really change anything on a daily basis, though. We will still focus on making the highest quality products and providing the best experience for our customers. Now, we simply have more resources to do better things with the company.”
About Aureus, Inc.
Management and ownership recently changed hands. The new focus is on acquiring specific assets in and related to the food industry, with a focus on ice cream. Aureus holds certain exclusive marketing rights to the Yuengling Ice Cream brand, and additional acquisition rights for further business elements of the brand. The goal of Aureus in the operation of these rights is to consolidate all factors that are positive for the Yuengling brand into a synergistic success for Aureus shareholders as well as the next generation of Yuengling consumers.
About Yuengling’s Ice Cream
Developed by American businessman Frank D. Yuengling, as a dairy business to help support the Yuengling family brewery during the 1920s Prohibition period, Yuengling’s Ice Cream has a strong tradition of making exceptional gourmet ice cream products in central Pennsylvania. The fan-favorite brand continues advancing its legacy and its renowned dairy quality, by using locally sourced dairy ingredients that contain no added hormones.
David Yuengling and Rob Bohorad revived the brand in 2014 and an American classic was re-born. In 2018, positioned for the brands next stage of development, Yuengling’s Ice Cream forged a partnership with YIC – Online Distributors, to distribute the iconic ice cream brand online, now via Aureus. Today, Yuengling’s Ice Cream is delivered directly to the doorsteps of its consumers across the nation.
The Yuengling’s Ice Cream Corporation- as it has been since 1935- is stand alone, and separately owned and run companies from D. G. Yuengling and Sons, Inc Brewery.
Safe Harbor Statement
This communication contains statements that may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of US Highland, Inc and members of its management as well as the assumptions on which such statements are based.
Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions.
The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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SOURCE: Aureus, Inc.
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