XTRM Receives Pre-Approval For $5 Million Line of Credit For Purchase of Real Estate Related Cannabis
February 10 2014 - 9:15AM
Access Wire
February 10th, 2014 / Corona, CA / ACCESSWIRE / Extreme
Biodiesel, Inc. (PINK:XTRM) today announced that the Company
and it’s wholly owned subsidiary XTRM Cannabis Ventures has just
received Pre-Approval for a Five Million Dollar line of credit from
Coastal Mortgage Group for the purpose of purchasing real
estate.
XTRM plans to use the credit line for purchasing real estate for
the purpose of Hemp Cultivation, Medical Marijuana Cultivation and
Commercial Real Estate related to dispensaries so long as it’s use
is deemed legal.
Some of the terms of the line of credit are that any
transactions and property use are deemed legal by state and federal
authorities, clear title, and that the Company must contribute at
least 10 % of the purchase price.
Company President Joseph Spadafore stated "Extreme has already
identified several properties that we feel fit the Company’s
needs. We also want to assure investors that this line of
credit DOES NOT involve a debt conversion or anything that can be
converted to XTRM stock."
Extreme Biodiesel Inc.’s wholly owned subsidiary XTRM Cannabis
Ventures will be updating its website throughout the week at
http://xtrmcannabisventures.com.
Other Relevant Links
Legalization of Hemp
http://www.marketwatch.com/story/victory-for-hemp-farmers-as-us-house-of-representatives-legalizes-the-cultivation-of-hemp-2014-02-03?reflink=MW_news_stmp
About Extreme Biodiesel and XTRM Cannabis
Ventures
Extreme Biodiesel is an alternative fuel and recycling company.
Our mission is to provide a cost-effective, high-quality
alternative diesel fuel, create "green" jobs, reduce the
environmental impact of fossil fuels and diminish US reliance on
foreign oil. Extreme Biodiesel is currently repositioning itself
into a holdings corporation with focuses on Bio Diesel, Real
Estate, Technology and Cannabis Sectors
XTRM Cannabis Ventures is a wholly owned subsidiary of Extreme
Biodiesel focused in the sector of Medical Marijuana, Cannabis and
Hemp related products.
XTRM Cannabis Ventures Disclaimer
The Company would like to assure all investors that in all
cannabis related actions the Company is conferring with counsel to
be sure any business activities are deemed legal. XTRM advises all
investors to see the website being developed at
http://xtrmcannabisventures.com
Investor Relations Contact
info@extremebiodiesel.com
Safe Harbor Disclaimer
Forward-Looking Statements are included within the meaning of
Section 27A of the Securities Act of 1933, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements
regarding our expected future financial position, results of
operations, cash flows, financing plans, business strategy,
products and services, competitive positions, growth opportunities,
plans and objectives of management for future operations, including
words such as "anticipate," "if," "believe," "plan," "estimate,"
"expect," "intend," "may," "could," "should," "will," and other
similar expressions are forward-looking statements and involve
risks, uncertainties and contingencies, many of which are beyond
our control, which may cause actual results, performance, or
achievements to differ materially from anticipated results,
performance, or achievements. XTRM is under no obligation to (and
expressly disclaim any such obligation to) update or alter our
forward-looking statements, whether as a result of new information,
future events or otherwise.
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