M Line Holdings, Inc. signed a letter of intent to acquire 55% stake in The Caravel Group, LLC.
August 01, 2018
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M Line Holdings, Inc. (OTCPK:MLHC) signed a letter of intent to acquire 55% stake in The Caravel Group, LLC on August 2, 2018. In a related transaction, M Line Holdings also signed a separate letter of intent to acquire 55% stake in Best Choice Food and Beverage, LLC on August 2, 2018. M Line Holdings also has an option to acquire further 25% stake in both the companies and will be adding three industry veterans as part of these deals. A final purchase agreement will be entered after completion of due diligence and the deal is expected to be completed in early August 2018.
M Line Holdings, Inc. is a holding company. The Company is focused on the beverage branding and distribution industry, the food and beverage distributing business, coal industry, the aerospace industry and business financing. Its subsidiaries include Best Choice Food and Beverage, LLC, a food and beverage distributing company; M Line Coal Development, Inc., which intends to acquire permits for the mining and distribution of coal out of mines located in Kentucky; M Line Transportation, Inc., which is formed to manage the transportation of mined coal to its distribution points; Precision Aerospace & Technologies, Inc., which manufactures precision metal component parts and assemblies; and M Line Machinery Funding, Inc., which provides advice and support in raising new capital, management support in relation to financial control and management of the business.
M LINE HOLDINGS, INC. 
