Attached files
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| 8-K - M LINE HOLDINGS INC | v170147_8k.htm |
| EX-99.2 - M LINE HOLDINGS INC | v170147_ex99-2.htm |
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For
Immediate Release
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Contact: Tony
Anish
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Ph.:
949-722-2720
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tony@mlinecap.com
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M
Line Holdings, Inc. Announces Listing on OTC
Bulletin
Board
Company
begins trading under symbol MLHC
Tustin,
CA – December 23, 2009 – M Line Holdings, Inc. (OTC Bulletin Board: MLHC - “M
Line Holdings” or “the Company”), is pleased to announce that it began trading
on the OTC Bulletin Board under the symbol “MLHC,” effective November 19,
2009.
George
Colin, CEO of M Line Holdings, Inc., stated “The Company has been working
diligently on the relisting of the stock for some time and the Board was
delighted to complete this long process. We would like to thank our
shareholders who have been understanding during this lengthy
process.”
There has
been little news distributed about the Company over the last few years but now
with a new Board the Company will keep its shareholders
fully informed as to the progress of the Company. To that end, the
Company has issued an open letter to shareholders today, which can be viewed at
www.mlineholdings.com.
In
addition, M Line Holdings recently announced that the Company has signed a
binding Letter of Intent to acquire Money Line Capital, Inc. (“MLC”), a
privately held California corporation. The transaction will be
structured as a share exchange with the shareholders of MLC exchanging their
shares of M Line Holdings, Inc. The parties had planned to enter a definitive
Share Exchange Agreement on or about December 1, 2009 and close the transaction
on or before January 29, 2010, but the estimated time for completion of the
audits has extended the timeline.
Under the
new timeline, the fair market value of MLC and its subsidiaries will be
determined by a third-party valuation, to be completed by March 12, 2010, and
the Company and MLC will enter into a definitive Share Exchange Agreement on or
about April 2, 2010. The transaction is now anticipated to close on
or before April 30, 2010.
“We are
delighted that our stock is again listed on the OTC BB and we believe that our
intent to merge MLC with M Line Holdings, Inc. will add value for our current
shareholders,” said George Colin, CEO of M Line Holdings, Inc., “It is important
that our shareholders read our open letter on our web site to truly understand
the future of the Company.”
“We look
forward to merging our group of companies with M Line Holdings, Inc. and we will
continue to provide information to M Line holdings, Inc. about our group of
companies that can be released to the shareholders so that they remain fully
informed about this merger and its companies,” stated Jitu Banker, President of
Money Line Capital, Inc.
Additional
information regarding this transaction can be viewed in the open letter to our
shareholders issued today.
About M
Line Holdings, Inc.
M Line
Holdings, Inc. (formerly Gateway International Holdings, Inc.) is currently a
reporting company under the Securities and Exchange Act of 1934, as amended,
with approximately 600 shareholders and two operating subsidiaries. Money Line
Capital, Inc. (“MLC”) is a business financing corporation and holding company
with equity in operating subsidiaries in financing, aerospace, real estate,
media, beverage and technology, including a 52% interest in M Line Holdings,
Inc.
M Line
Holdings Inc. is headquartered at 2672 Dow Avenue, Tustin, CA 92780. Money Line
Capital Inc. is headquartered at 17702 Mitchell North, Suite 201, Irvine, CA
92614.
Forward
Looking Statements
This news
release contains certain “forward- looking statements.” Forward-looking
statements are based on current expectations and assumptions and are inherently
subject to risks and uncertainties, some of which cannot be predicted or
quantified, and many of which are beyond the Company's control. The
forward-looking statements are also identified through the use of words
“believe,” enable,” “may,” “will,” “could,” “intends,” “estimate,” “anticipate,”
“plan,” “predict” “probable,” “potential,” “possible,” “should,” “continue,” and
other words of similar meaning. Actual results could differ materially from
these forward-looking statements as a result of a number of risk factors
detailed in the Company's periodic reports filed with the SEC. Given these risks
and uncertainties, investors are cautioned not to place undue reliance on such
forward-looking statements and no assurances can be given that such statements
will be achieved.
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