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Friday, June 18, 2021

Majic Wheels Corp. (OTCMKTS: MJWL) Reverse Merger (RM) Play Soars on CGCX Ltd LOI

Majic Wheels Corp. (OTCMKTS: MJWL) has been on the move over the past few months running from triple zeroes to recent highs of $0.0788 per share. The stock has quickly attracted legions of new shareholders and is transforming into a volume leader in small caps trading $12.5 million plus in dollar volume on Tuesday alone. MJWL has emerged in recent days as an investors favorite and is currently among the most actively searched and talked about stocks in small caps. MJWL is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars – a break over $0.0788 and its blue skies ahead.  

MJWL took off on April 30 after the Company announced it has new management and intends to file with the OTC Markets to become OTC Pink Current. This was soon followed by Shaw Cheng “David” Chong taking over as CEO and positioning the Company as a player in the disruptive industries of Fintech and Software Development. The stock really took off after MJWL announced it has executed a binding letter of intent to acquire a USD 150M revenue producing cryptocurrency exchange and custody services platform: CGCX Ltd. Founded in 2018, Calfin Global Crypto Exchange (“CGCX”) set out to offer highly sophisticated cryptocurrencies services catering for the larger blockchain community. CGCX has already established a crypto trading platform and custody solutions. In the latter, it is one of the first participants to offer insurance to some of its clients. 

Majic Wheels Corp. (OTCMKTS: MJWL) a Delaware corporation, intends to position itself as a player in the disruptive industries of and Fintech and software development by means of an acquisition and merger. Majic Wheels Corp. is listed and traded on the Over-the-Counter Market under the trading symbol “MJWL”. 

The stock started moving after the Company reported on April 30  it has new management and intends to file with the OTC Markets to become OTC Pink Current. This was soon followed by Shaw Cheng “David” Chong taking over as CEO and positioning the Company as a player in the disruptive industries of Fintech and Software Development. 

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MJWL

On May 21 MJWL announced it has executed a binding letter of intent to acquire a USD 150M revenue producing cryptocurrency exchange and custody services platform: CGCX Ltd. Founded in 2018, Calfin Global Crypto Exchange (“CGCX”) set out to offer highly sophisticated cryptocurrencies services catering for the larger blockchain community. CGCX has already established a crypto trading platform and custody solutions. In the latter, it is one of the first participants to offer insurance to some of its clients. 

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). Developing various software solutions for the broad cryptocurrencies market, CGCX has established three different business lines that complement the needs of the cryptocurrency market. 

CGCX has built three business lines including the CGCX Exchange, Custody Services and Cryptocurrency Mining. MJWL CEO David Chong stated: “This is a unique assortment of value propositions that we are able to bring into the company. 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. CGCX has been operating successfully since 2018 and we could not be more excited with this pending merger.”  

The Company will be publishing more details about CGCX in the coming weeks and will host an online presentation. A subsequent press release will be issued with an invitation to the online presentation. 

https://twitter.com/HighFloor84/status/1395883007085580289

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MJWL has been on the move over the past few months running from triple zeroes to recent highs of $0.0788 per share. The stock has quickly attracted legions of new shareholders and is transforming into a volume leader in small caps trading $12.5 million plus in dollar volume on Tuesday alone. MJWL has emerged in recent days as an investors favorite and is currently among the most actively searched and talked about stocks in small caps. MJWL is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars – a break over $0.0788 and its blue skies ahead.  MJWL took off on April 30 after the Company announced it has new management and intends to file with the OTC Markets to become OTC Pink Current. This was soon followed by Shaw Cheng “David” Chong taking over as CEO and positioning the Company as a player in the disruptive industries of Fintech and Software Development. The stock really took off after MJWL announced it has executed a binding letter of intent to acquire a USD 150M revenue producing cryptocurrency exchange and custody services platform: CGCX Ltd. Founded in 2018, Calfin Global Crypto Exchange (“CGCX”) set out to offer highly sophisticated cryptocurrencies services catering for the larger blockchain community. CGCX has already established a crypto trading platform and custody solutions. In the latter, it is one of the first participants to offer insurance to some of its clients. We will be updating on MJWL when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MJWL.

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Disclosure: we hold no position in MJWL either long or short and we have not been compensated for this article.

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