Majic Provides Shareholders Update
- FinTech StartUps
- 12.08.2021 07:20 am
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.