Costa Mesa, CA, Jan. 25, 2018 (GLOBE NEWSWIRE) -- M Line Holdings, Inc. (OTC Pink: MLHC; "M Line" or the “Company”), announces that it has formed two new subsidiaries, M Line Coal Development, Inc., a Kentucky Corporation, and M Line Transportation, Inc., a Wyoming Corporation.
M Line Coal Development, Inc. has been formed with the express intent to acquire permits for the mining and distribution of coal out of mines located in Kentucky. The Company is currently negotiating two permits with further opportunities coming available. The market for coal is excellent with the current local demand exceeding supply. More information will be provided as the transactions are completed.
M Line Transportation, Inc. has been formed to manage the transportation of mined coal to its distribution points. M Line plans to have four trucks hauling some 40 tons of coal every two to three hours sixteen hours per day. The Company is currently negotiating the contracts for this business and will need to source the trucks and trailers to handle the work. It is anticipated that we will be able to start hauling coal within 90 days.
In addition to the above transactions M Line is currently negotiating opportunities in the aerospace sector and hopes to have more news regarding that progress in the near future. M Line has a long history of providing expertise to the vibrant aerospace industry in Southern California.
Tony Anish, CEO of M Line, stated: “We have been working diligently to get M Line up and running with new opportunities for growth. As previously stated, we expect to bring the Company to current reporting status very soon even though much of our efforts are being placed towards the closing of our new transactions. The formation of our new subsidiaries is the first step in that process. We know how patient our shareholders have been. Now, let’s show you what we can do to create shareholder value.”
About M Line Holdings, Inc.
M Line has historically been a holding Company with subsidiaries primarily involved in the aerospace industry and business financing. In the future, the Company will continue with its business financing activities, continue to contemplate aerospace opportunities as well as introduce new businesses to the group.
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