Real Estate Contacts, Inc. (REAC) has informed shareholders that the company has entered into a binding Letter of Intent (LOI) for the acquisition of Patriot Bioenergy Corporation, a Kentucky corporation (Patriot).
Patriot is an alternative agriculture biofuel company specialising in the utilisation of hemp. The LOI includes acquisition of all assets, trade secrets, intellectual knowledge, and proprietary information. REAC expects a definitive acquisition agreement to be finalised by both parties in the fiscal quarter. A reflective 8K will be filed upon completion of the acquisition.
Robert DeAngelis, President & CEO of Real Estate Contacts, Inc., stated, "Anything hemp related is currently a hot commodity. Our momentum and progress are strong and increasing. We have only just begun to see where that may lead. We will be introducing and offering several product lines with signed contracts from other companies and businesses that will produce immediate revenues for REAC. We look forward to 2017 and sharing our ever expanding new business model, business plans, and business success with you in the weeks and months ahead."
The company's expansion plans to focus operations in the areas of industrial uses, product infusions, software, and biofuels, as well as becoming a vendor for other businesses within the sector.
Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/30122016/real-estate-contacts-enters-green-sector/