Dilution Has Been Suspended
NEWPORT BEACH, CA, March 11, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – M Line Holdings, Inc. (OTC Pink: MLHC; "M Line" or the “Company”) announces that it has negotiated a suspension of dilution with its debt holders. This would not have been possible some weeks ago and we are very pleased that the lenders have recognized that we need to improve shareholder value.
We have achieved a great deal over the last 8 months and to those parties not familiar with our growth I have summed it up below:
August, 2018
- We acquired 55% of The Caravel Group, our beverage branding and distribution Company
- 55% of Best Choice Food and Beverage our food and beverage Distribution Company located in Florida and another 20% in September.
September, 2018
- We acquired Best Choice Nuts, Candy and Specialties, Inc., another beverage and food distributor in Florida, and began the process of merging the two Best Choices into one operation.
October, 2018
- We acquired 60% of American Asset Holdings, Inc. the company that builds our “off the grid” growing pods used to grow cannabis and vegetables.
- We acquired Dimension Beverages, LLC, which owned the Torque® brand of energy drinks. We have since transferred the management of this brand to the Caravel Group
- We announced that we were entering into a joint venture to market the “Rise” brand of CBD products. This is the ONLY transaction we have not closed yet however we expect to do so very shortly.
January, 2019
- We announced that we have acquired the rights to the Larry Caputo brand of imported wines. The first shipments from Italy will be arriving in March 2019 a little behind our original schedule.
February, 2019
- We acquired three operating restaurants/bars, an event center, and 38.5 acres of land in Arizona.
March, 2019
- As mentioned in previous releases, we have major news to be released as soon as possible.
Tony Anish, CEO of M Line, commented: “This astonishing growth has not yet been reflected in Shareholder Value, however with Revenues and EBITDA continuing to improve we know this will change. I want to thank our debt lenders for working with us to help improve Shareholder Value.”
Tony continued: “To our shareholders, I want to state again, we have NO intention of reversing our stock, but we do intend to be able to start a share buy-back program very soon.”
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 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. M Line owns three restaurants and an event center in Arizona and land for development. M Line will continue with its business financing activities while looking for other opportunities in the Beverage, Distribution, hospitality 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.