M Line Holdings, Inc. Acquires Control of Square Chain Corporation
March 15 2019 - 9:20AM
InvestorsHub NewsWire
M Line Holdings, Inc. Acquires Control of Square Chain Corporation
Square Chain Corp. results will be part of M Line’s Consolidated
Financial Statements
Newport Beach, CA -- March 15, 2019 -- InvestorsHub NewsWire --
M Line Holdings, Inc. (OTC Pink: MLHC; "M Line" or the “Company”)
announces that it has sold its real estate assets and its interest
in the Caravel Group to Square Chain Corp. (OTC Pink Stock Symbol
“SQCC”) for stock in Square Chain Corporation (“SQCC”), a
significant portion of which will be issued to M Line shareholders
as a dividend.
M Line will be issuing a dividend to its shareholders of a total
of 50,000,000 of its shares in SQCC, approximately one share for
every 150 shares of common stock of M Line shareholders.
These shares will be free trading after we file our registration
statement. This dividend is subject to regulatory approval
and the value date will be set at April 17, 2019, due to the
anticipated time it will take for that approval.
After the dividend has been issued, SQCC will remain a
subsidiary of M Line and its results will still be part of M Line’s
Consolidated Financial Statements. This will result in a
significant increase in Shareholder value.
• SQCC has purchased for SQCC stock the 55% ownership that M
Line has in the Caravel Group, Inc. Caravel’s primary products are
Vea™ proactive hydration and caffeinated sparkling water beverages
and the Torque® line of energy drinks as well as Larry Caputo wine,
our first imported wine line.
• Forecasted revenues for Caravel continue to rise and are
expected to be over $20 million dollars in the next twelve months
and we anticipate net profits to exceed 35%. Our significant
orders in Mexico include deliveries through our distributors to
Walmart Mexico and OXXO. In the US we will be delivering to
many of the major grocery and convenience store chains to be
announced in the near future.
• SQCC has purchased for stock, the real estate assets of M Line
and will develop that real estate.
• The new management team will continue to manage the current
business of SQCC.
• M Line’s growth will not be affected.
• SQCC is in negotiation to purchase additional stock in the
Caravel Group.
• Announcements will be made on Square Chain’s new twitter
account @sqcccorp
• SQCC’s web site will be updated with the new businesses
ASAP.
Tony Anish, CEO of M Line, commented: “This is an extremely
exciting and progressive transaction. We gain the benefit of
a well-structured company that is current in its filings and we
will be updating the officers and Directors, including my position
as CEO of SQCC, on OTC Markets and the Nevada Secretary of State
web sites in the next few days.”
Tony further stated: “This Company has a Reg A financing
approved and in place. The financing program will assist the
growth of Caravel and assist us in the financing of our real estate
development. We will consolidate the financial statements
with M Line. We will also have audits completed for SQCC with
the same year end as M Line so that both Companies can become fully
reporting and we will file registration statements for both
companies. We expect to use either March 31 or April 30 as
our year end. Our lenders have agreed that they will consider
extending the suspension of dilution beyond the value
date.”
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 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
E Mail: info@mlineholdings.com
Follow us on Twitter: @mlinehc
Web site: www.mlinehc.com
Caravel Web site: www.drinkvea.com /
@DrinkVea
Torque® site: www.drinktorque.com /
@DrinkTorque
Follow Best Choice on Twitter: @bcfbfl
Follow us on Twitter @sqcccorp
M Line (CE) (USOTC:MLHC)
Historical Stock Chart
From Sep 2024 to Oct 2024
M Line (CE) (USOTC:MLHC)
Historical Stock Chart
From Oct 2023 to Oct 2024