M Line Holdings, Inc. Signs Letter of Intent to Acquire 38.3 Acres of Land, Including Three Restaurants and an Event Arena
December 06 2018 - 10:11AM
InvestorsHub NewsWire
Securing Contracts with Major Oil Company Who Will Invest
up to $1 Million in Gas Station Construction Costs
Costa Mesa, CA -- December 06, 2018 -- InvestorsHub NewsWire --
M Line Holdings, Inc. (OTC Pink: MLHC; "M Line" or the “Company”),
announces that it has signed a Letter of Intent to acquire 37.7
acres of land in Golden Valley located at 3743 US Highway 93,
Golden Valley, Arizona, 86413 and 0.6 acres of land in Dolan
Springs, Arizona, one operating restaurant and event center in
Golden Valley and two operating restaurants in Dolan Springs,
Arizona. We expect to close these transactions in the next few
days.
The land at Golden Valley was appraised earlier this year
for $2,900,000 by Wiltchik Appraisal,
Inc., Certified Appraisers, out of Irvine, California. The
land at Dolan Springs is estimated to be worth
approximately $500,000. The revenue of
the restaurants through October
exceeds $800,000 with net profit
over 20% of revenue.
We are securing contracts with a major oil
company to build
a gas station including a truck and
travel center on the Golden Valley property which is located on the
new Interstate 11 freeway under construction from Las Vegas to
Phoenix. This funding to invest up to a $1 million to
support the construction will be finalized very soon.
Tony Anish, CEO of M Line, commented: “Although this is a
slightly different business than those we have acquired to date, we
are securing strong assets to strengthen our Balance Sheet and good
cash flow from the restaurants and event center as well as the gas
station as soon as we can get it built. In addition, some of
the land can potentially be used to cultivate hemp that can be
turned into THC free CBD for use by our joint venture partner who
is manufacturing the “Rise” CBD line of products.”
Tony Anish continued: “We have had a number of questions from
our shareholders regarding transactions that we have announced but
not yet closed. All these transactions are in the process of
being closed and we will keep you informed regarding these and new
opportunities that are currently under review. Stay tuned we have
so much more to tell you.”
About M Line Holdings, Inc.
M Line is a Holding Company. It controls subsidiaries involved
in the Beverage Branding and Distribution industry that includes
our VEA and TORQUE® branded drinks. In addition, M Line
controls two subsidiaries in Florida in the Food and Beverage
distribution business and M Line has now expanded into the Cannabis
Industry with the acquisition of our C-Pod manufacturing
business. Furthermore, M Line will continue with its business
financing activities while looking for other opportunities in the
Beverage, Distribution and Cannabis industries as well as other
prospects that make sense to management.
Safe Harbor and Informational Statement
This press release may contain forward-looking information
within the meaning of Section 21E of the Security Exchange Act of
1934, as amended (the Exchange Act), including all statements that
are not statement 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) the company's
financing plans; (ii) trends affecting the company's financial
conditions or results of operations; (iii): the company's growth
strategy and operating strategy; and (iv) the declaration and
payment of dividends.
The words "may", "would", "will", "expect", "estimate",
"anticipate", "believe", "intend", and similar expressions and
variations thereof are intend to identify forward-looking
statements. Investors are cautioned that any such forward-looking
statement is not a guarantee of future 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 harbor provided by Section 21E(c) of the
Exchange Act for all forward-looking statements.
For more information contact Tony Anish EMail: info@mlineholdings.com Follow us on Twitter: @mlinehcWeb site: www.mlinehc.com Caravel Web site: www.drinkvea.com / @DrinkVeaWeb site: www.drinktorque.com / @DrinkTorque
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