PARRISH, FL--(Marketwired - Dec 20, 2016) - Real Estate Contacts, Inc. (OTC: REAC) is pleased to inform 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 specializing in the utilization of hemp. The LOI includes acquisition of all assets, trade secrets, intellectual knowledge, and proprietary information.
Real Estate Contacts, Inc. expects a definitive acquisition agreement to be finalized 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 cannabinoids, industrial uses, product infusions, software, and biofuels, as well as becoming a vendor for other businesses within the sector.
Safe Harbor: This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.