Majic Acquires The Calfin Global Crypto Exchange: CGCX
June 30, 2021 at 15:46 PM EDT
Houston, Texas, June 30, 2021 (GLOBE NEWSWIRE) -- Majic Wheels, Corp. (OTC Pink: MJWL) ("Majic" or the "Company"), a Delaware corporation, that is positioning itself as a player in the disruptive industries of fintech and software development by means of acquisitions, announces completion and closing of Calfin Global Crypto Exchange (“CGCX”).
Final terms of the acquisition were satisfied with the Company becoming current and completing the last pending restructuring items. As such the Board of the Company, having completed its due diligence and sent final agreement for execution.
ʺMonths of around the clock work went into preparing Majic for this landmark moment. We are proud to have reached this milestone by becoming current and settling previous liabilities of the Company to the satisfaction of our acquisition candidate. Now that terms have been satisfied and the acquisition is executed, we look forward to the next steps in the Majic journey.” said David Chong, Chief Executive Officer of Majic Wheels, Corp.
ʺIt is a fantastic time for CGCX. Spreading our wings globally through this merger with Majic will help expand the reach of our blockchain solutions and create an impact worldwide.” said Anandh Swami, Chief Executive Officer of CGCX.
The acquisition of CGCX which is valued at USD 153.2 Million is conducted on an all-equity basis with the respective CGCX shareholders receiving Restricted and Preferred shares of Majic. With the acquisition being closed, the Company will be releasing more information and details on CGCX moving forward. To that end, the Company wishes to remind shareholders and prospective investors that it will be hosting an online presentation in the month of July. The details of which will be shared shortly. To receive updates about the specific details of the time and place, please register on our website here:
About Majic Wheels Corp.
Majic Wheels Corp., a Delaware corporation, intends to position itself as a player in the disruptive industries of Fintech and software development by means of acquisitions and mergers. Majic Wheels Corp. is listed and traded on the Over-the-Counter Market under the trading symbol "MJWL".
For more information about the Company visit:
Our OTC Markets Profile: https://www.otcmarkets.com/stock/mjwl/overview
About CGCX Ltd.
Founded in 2018, Calfin Global Crypto Exchange CGCX set out to offer a highly sophisticated cryptocurrency exchange for a seamless & secure crypto trading experience. Unlike most exchanges that offer only cryptocurrency trading, CGCX caters to the larger blockchain community by providing four services under a single platform.
CGCX Website: https://www.cgcx.io
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
SOURCE: Majic Wheels Corp.
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