|Aureus, Inc. closes acquisition of YIC - Online Distributors LLC and provides a corporate update|
GlobeNewswire•February 28, 2019
ATLANTA, Feb. 28, 2019 (GLOBE NEWSWIRE) -- Aureus, Inc. (OTC PINK: ARSN), a food brand development company focused on acquiring and growing well-established food brands, announced today that it has formally closed it's merger transaction with YIC - Online Distributors LLC ("YIC - Online"), acquiring 100% of YIC - Online and YIC - Online management and affiliates 33% holding in Yuengling's Ice Cream Corporation. As a result of the transaction and recent corporate actions, the current Aureus Authorized Share count is 510,000,00 (Five Hundred Ten Million). Aureus, post transaction will have 323,750,000 (Three Hundred Twenty Three Million Seven Hundred Fifty Thousand ) shares of common stock Issued and Outstanding with a Restricted Share count of approximately 253,750,000 (Two Hundred Fifty Three Million Seven Hundred Fifty Thousand ), an Unrestricted Share count of 70,000,000 (Seventy Million) and a Free Trading Float of approximately 50,000,000 (Fifty Million).
“We continue march along on the path as we projected. Fully closing the YIC transaction is a great first step. The management team there brings real strength and grow potential. We couldn’t be more pleased by the recognition of the brand and how effortlessly new sales channels open up for us. Corporately, we expect the “Stop Sign” to be removed from OTC Markets in the next few days. At that time, we will fully update the company profile and other related information. With the accounting now current, we can begin to bring the audited filings up to date, with an eye toward becoming fully reporting again, we project those efforts to be completed by July.” Commented Everett Dickson, CEO.
YIC - Online is the fastest growing distributor of the Yuengling's Ice Cream brand and serves as the exclusive online purveyor - with National shipping partner Goldbelly.com - as well as leading the brands boots on the ground retail sales expansion into the Southeast, Midwest and Western United States. The debt free YIC - Online becomes a wholly owned subsidiary of Aureus, Inc. as a result of the transaction and will continue to maintain offices in Bluffton, SC and Keokuk, Iowa. Jason Daggett, Managing Partner of Yuengling’s Ice Cream - Online Distributors, said about the merger closing; “we’re excited to play a key role in the Aureus re-branding and leading the sales and distribution expansion for Yuengling's Ice Cream brand." Mr. Daggett stated "we believe fundamentals drive a business and 2019 is off to a very strong start for us. We’re committed to running a well-structured company that communicates well with our shareholder owners.”
About Aureus / Yuengling’s Ice Cream
Aureus, Inc. focuses on acquiring and enhancing specific assets in and related to the food industry. The signature brand, Yuengling's Ice Cream - Retail & Online Distribution, was developed by American businessman, Frank D. Yuengling, as a dairy business to help support the Yuengling family brewery during the 1920's Prohibition period. The fan-favorite brand continues advancing its legacy and renowned dairy quality, by using locally sourced dairy ingredients that contain no added hormones.
In 2014 and the Yuengling's Ice Cream Corporation was successfully relaunched and, in 2018, positioned for the brands next stage of development, Yuengling’s Ice Cream + YIC - Online Distributors partnered to expand distribution of the iconic ice cream brand online and in retail channels throughout the Southeast, Midwest and Western United States. Yuengling’s Ice Cream is currently available in approximately 500 stores in Pennsylvania, New Jersey, Maryland, New York, Delaware, Texas, Illinois, Indiana, Iowa and Michigan.
The Yuengling’s Ice Cream Corporation, as it’s been since 1935, and YIC- Online Distributors LLC are stand alone, separately owned and run companies from D. G. Yuengling and Sons, Inc Brewery.