![]() The Company will be publishing more details about CGCX in the coming weeks and will host an online presentation. CGCX has been operating successfully since 2018 and we could not be more excited with this pending merger," said David Chong, CEO and Director of Majic Wheels Corp. With the pending acquisition of CGCX, our company will bring a Digital Asset Platform that brings value from the diversified business model and security to the clients through insurance and infrastructure offering services such as Crypto Exchange, Digital Custody Services and Token Listing Platform under one-fold. "This is a unique assortment of value propositions that we are able to bring into the company. ![]() Listed below are the three business lines that CGCX has built: With the backing of a highly experienced team with deep expertise in Equity, Futures Market and corporate finance, CGCX coupled its knowledge of the traditional markets with the fast-growing cryptocurrency market to develop innovative products that fulfill the needs of cryptocurrency users in select markets (Malaysia, India, Mauritius, UAE).ĭeveloping various software solutions for the broad cryptocurrencies market, CGCX has established three different business lines that complement the needs of the cryptocurrency market. In the latter, it is one of the first participants to offer insurance to some of its clients. To view an enhanced version of this graphic, please visit:įounded in 2018, Calfin Global Crypto Exchange ("CGCX") set out to offer highly sophisticated cryptocurrencies services catering for the larger blockchain community.ĬGCX has already established a crypto trading platform and custody solutions. (OTC Pink: MJWL) ("Majic" or the "Company"), a Delaware corporation, is pleased to announce today that it has executed a binding letter of intent to acquire a USD 150M revenue producing cryptocurrency exchange and custody services platform: CGCX Ltd. ![]() to Enter Blockchain & Crypto Industry Through 150M Acquisition OTC MarketsĮstimated Float of 650-750 MILLION.LOW FLOATER Updated 6/16/21- No Change in Share Structure. To receive updates about the specific details of the time and place, please register on our website here:ĪS OF 2021 Q-1 Filing ( 6-21-21 ) the FLOAT here is ONLY 650,626,720-WEEEEEEEEE The details of which will be shared shortly. 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. With the acquisition being closed, the Company will be releasing more information and details on CGCX moving forward. 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. 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. ![]() 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. 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. "Months of around the clock work went into preparing Majic for this landmark moment. As such the Board of the Company, having completed its due diligence and sent final agreement for execution. (OTC: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").įinal terms of the acquisition were satisfied with the Company becoming current and completing the last pending restructuring items. Houston, Texas, J(GLOBE NEWSWIRE) - Majic Wheels, Corp. Majic Acquires The Calfin Global Crypto Exchange: CGCX
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