February 10th, 2014 / Corona, CA / ACCESSWIRE / Extreme Biodiesel, Inc. (PINK:XTRM) today announced that the Company and it’s wholly owned subsidiary XTRM Cannabis Ventures has just received Pre-Approval for a Five Million Dollar line of credit from Coastal Mortgage Group for the purpose of purchasing real estate.
XTRM plans to use the credit line for purchasing real estate for the purpose of Hemp Cultivation, Medical Marijuana Cultivation and Commercial Real Estate related to dispensaries so long as it’s use is deemed legal.
Some of the terms of the line of credit are that any transactions and property use are deemed legal by state and federal authorities, clear title, and that the Company must contribute at least 10 % of the purchase price.
Company President Joseph Spadafore stated "Extreme has already identified several properties that we feel fit the Company’s needs. We also want to assure investors that this line of credit DOES NOT involve a debt conversion or anything that can be converted to XTRM stock."
Extreme Biodiesel Inc.’s wholly owned subsidiary XTRM Cannabis Ventures will be updating its website throughout the week at http://xtrmcannabisventures.com.
Other Relevant Links
Legalization of Hemp
http://www.marketwatch.com/story/victory-for-hemp-farmers-as-us-house-of-representatives-legalizes-the-cultivation-of-hemp-2014-02-03?reflink=MW_news_stmp
About Extreme Biodiesel and XTRM Cannabis Ventures
Extreme Biodiesel is an alternative fuel and recycling company. Our mission is to provide a cost-effective, high-quality alternative diesel fuel, create "green" jobs, reduce the environmental impact of fossil fuels and diminish US reliance on foreign oil. Extreme Biodiesel is currently repositioning itself into a holdings corporation with focuses on Bio Diesel, Real Estate, Technology and Cannabis Sectors
XTRM Cannabis Ventures is a wholly owned subsidiary of Extreme Biodiesel focused in the sector of Medical Marijuana, Cannabis and Hemp related products.
XTRM Cannabis Ventures Disclaimer
The Company would like to assure all investors that in all cannabis related actions the Company is conferring with counsel to be sure any business activities are deemed legal. XTRM advises all investors to see the website being developed at http://xtrmcannabisventures.com
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Safe Harbor Disclaimer
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. XTRM is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.