Securing Contracts with Major Oil Company Who Will Invest up to $1 Million in Gas Station Construction Costs
Costa Mesa, CA, Dec. 06, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – 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.