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Newport Beach, CA, June 18, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Square Chain Corp. (OTC Pink: SQCC; "Square Chain" or the “Company”) is pleased to announce that it has signed a joint venture agreement with Rise Therapeutics, LLC. Rise Distributions, LLC. will be owned 60% by Rise Therapeutics and 40% by Square Chain. Initially the funding for the operations of the new company will be provided by Rise Therapeutics, hence the 60% ownership.
A recent Rolling Stone article estimated that the CBD Market could reach $22 Billion in 2022, stating that it could eclipse the Marijuana Industry. Square Chain believes that it is getting in at the early stages of this industry and is having the product tested by a major university laboratory to meet all requirements now and those expected in the near future.
Tony Anish, CEO of Square Chain, commented: “We have been working on this transaction since September of 2018 and we are delighted we have now inked the agreement. Originally this transaction was planned to be a part of M Line Holdings, Inc. but as we have now defined the business of Square Chain, we felt that it was better to include it as part of the Square Chain family of companies. Of course, this is also beneficial to the shareholders of M Line Holdings, Inc.”
Tony continued: “We, as well as our partners, are very serious about building a significant CBD operation nationally and are working closely with a University laboratory to test all our products before bringing them to market. Over the next couple of months, we will be building the web site, designing the logo and packaging ensuring that all the regulatory requirements and disclaimers etc. are included. Once ready we will launch the products both online and through distribution partners. We anticipate significant growth and profitability over the next twelve months and expect to create substantial long-term value. Keep watching for new updates on our Company.”
About Square Chain Corporation
Square Chain through its subsidiary, The Caravel Group, Inc., is a company involved in the Beverage Branding and Distribution business. In addition, SQCC will distribute food and beverage through its Best Choice food and Beverage distributor in Florida. Square Chain will also distribute CBD products through its joint venture company Rise Distributions, LLC.
The Company will continue to look for opportunities in related businesses or other opportunities that meet the portfolio criteria set by management.
About M Line Holdings, Inc.
M Line Holdings, Inc. is currently the parent company of Square Chain Corp. Its business is primarily in real estate, the hospitality industry and our “off the grid” C-pod manufactured containers for growing marijuana and vegetables.
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 intended 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 due to 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:
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