TMCnet News
Majic Wheels Corp. Official Company Statement Regarding Caveat EmptorHOUSTON, TEXAS, May 16, 2022 (GLOBE NEWSWIRE) -- Wyoming-based holding Company Majic Wheels Corp. (OTC Pink: MJWL) has today issued this Official Company Statement to update its shareholders regarding the Caveat Emptor (CE) that was placed on the $MJWL ticker after trading hours on Friday 13 May, 2022. First, Majic Wheels Corp wishes to confirm that it remains committed to delivering on its business objectives and strategy. It is “business as usual”, and the Company intends to release its Q1-2022 financial results by market-close today (16 May, 2022), subject to approval by OTC Market. The Majic Wheels Corp management team and its external legal counsel are working with the relevant authorities to gain information and what led to the CE placement. The Company is committed to providing its shareholders with full transparency and factually correct information, and so would ask the public to be patient whilst the correct information is gathered and to not be misled by ‘noise’ in the social channels which might or might not be correct. Majic Wheels Corp encourages its shareholders to follow its official Twitter handle for accurate and timely updates on the matter: https://twitter.com/MajicCorp. For clarity, a Caveat Emptor security “is a designation the OTC Markets Group places on a security after a determination was made surrounding the company that there may be potential risk to investors which inlude a questionable stock promotion, known investigation of fraudulent activity committed by the company or insiders, regulatory suspensions, or disruptive corporate actions, among other reasons.” David Chong, Majic Wheels Corp. CEO, comments: “We will update our shareholders and the wider public as soon as we receive relevant information from the authorities or OTC Markets. My colleagues and I are committed to resolving this issue as quickly as possible and are working through the ‘CE issue’ for the best possible outcome.” At 8.30am EST today (16 May 2022), Majic Wheels Corp. requested for MJWL trading to halt, but the request was not granted. For further information please contact: [email protected] About Majic Wheels Corp. SAFE HARBOR STATEMENT: |