Majic Provides Shareholders Update
August 11, 2021 at 13:30 PM EDT
Houston, Texas, Aug. 11, 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 shareholder update and upcoming developments.
Since taking the helm this year, new management has implemented a strategy to create shareholder value through strategic acquisitions in the Fintech & Technology sector. As part of the effort, management proceeded with solidifying the balance sheet of the Company and restoring the Good standing of its OTC Listing.
In the last three months, management has completed its objective to bring the Company to current status on the OTC Markets. As well, the structure and reorganization of the Company was completed to allow for a healthy step forward and to enter its first acquisition. The Company closed the acquisition of CGCX, an established a crypto trading platform, cryptocurrency mining operation and custody solutions provider.
Moving forward, the Company intends to complete further acquisitions before the end of the year. The acquisition candidates will be within the same industry, and will complement the current offering of CGCX as well as increase its global footprint to reach markets like the United States of America, Canada and other part of the world.
“Our plan is to continue to create shareholder value of investors of Majic through the acquisitions of synergistic candidates to complement the current offering of CGCX. As well our intention is to make CGCX a global player in the Crypto Currency Exchange Industry. Beyond the Exchange itself, we want to position CGCX as a provider of Blockchain solutions. We have received incredible feedback to the iChain Decentralized Blockchain platform so far.” Said David Chong, Chief Executive Officer of Majic Wheels Corp.
Our objective to up list to the NASDAQ exchange remains on schedule with the engagement of auditors as our current next step. We are also undertaking several initiatives to increase the profile of Majic as a publicly traded company among institutional investors and investment bankers. To that end, the Company has already been in discussion with a renowned Investment Bank to act as the underwriter and advisor to the Company. The Company will also be participating in targeted events aimed at institutional investors, investment bankers and accredited investors.
Lastly, the Company will be hosting an online presentation where management of Majic and CGCX will be further outlining the road map of the Company for the next year and further. As well, management will be providing an update on CGCX revenues to date.
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.
FOR MORE INFORMATION, PLEASE CONTACT: