Wed, 12 Jun 2019 10:05 GMT | GlobeNewswire | Symbol: SQCC
Square Chain Targets Beverage Branding, CBD Products, Food and Beverage Distribution
Newport Beach, CA, June 12, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Square Chain Corp. (OTC Pink: SQCC; "Square Chain" or the “Company”) reconfirms that it has purchased a 55% interest in the Caravel Group, Inc. using Square Chain shares for the acquisition. Square Chain had planned to acquire the real estate holdings of M Line Holdings, Inc. but after review, Square Chain has agreed to acquire Best Choice Food and Beverage, Inc. from M Line. Square Chain’s business will now be beverage branding and distribution as well as food and beverage distribution and in the near future will distribute Rise CBD products.
· The management of SQCC is finalizing funding opportunities for the group that are not convertible dilutive notes.
· The management of SQCC is negotiating the purchase of an additional 20% of the Caravel Group, Inc.
· SQCC is in the process of completing the CBD transaction with Rise.
Tony Anish, CEO of Square Chain, commented: “The revenue stream for the Company has now begun but will be much greater in the third and fourth quarter of 2019. Caravel’s primary products are Vea™ Proactive Hydration and Caffeinated Sparkling Water Beverages and the Torque® line of energy drinks as well as our first step into the alcoholic beverage business with our Larry Caputo wine, our first imported wine line. Revenues will grow significantly over the next twelve months and we anticipate the net profit percentage to exceed 15-20%. We have significant orders from Mexico with 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 as soon as possible."
Tony continued: “SQCC’s Financial Statements for the year ended March 31, 2019 will be filed separately before the end of June. Management plans to change SQCC’s year end to June 30 at which time the Company will audit the last two year’s financial statements in order to file a registration statement and become a fully reporting 34 Act Company. Furthermore, as previously announced, shares of SQCC will be issued as a dividend to M Line’s shareholders, subject to regulatory approval. SQCC is now positioned to grow into a very solid Company. Management intends to work diligently to improve shareholder value.”
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 plans to introduce its CBD line of products in the near future. The Company will continue to look for opportunities in related businesses or other opportunities that meet the portfolio criteria set by 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 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 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
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