Majic Wheels Corp. Official Company Statement Regarding Caveat Emptor

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Majic Wheels Corp.

HOUSTON, TEXAS, May 16, 2022 (GLOBE NEWSWIRE) — Majic Wheels Corp, a Wyoming-based holding company. (OTC Pink: MJWL) today released this official company statement to inform its shareholders of the Emptor (CE) cautionary statement that was placed on the $ symbol MJWL after hours trading on Friday, May 13, 2022.

First of all, Majic Wheels Corp would like to confirm that it remains committed to achieving its business goals and strategy. It’s “business as usual” and the company intends to report its first quarter 2022 financial results by the close of trading today (May 16, 2022), subject to OTC approval. Market.

Majic Wheels Corp’s management team and its outside legal counsel are working with the relevant authorities to obtain information and what led to the CE placement. The Company is committed to providing its shareholders with full transparency and factually correct information, and therefore asks the public to be patient while the correct information is collected and not to be misled by the “noise” in the social channels that may or may not be corrected.

Majic Wheels Corp encourages its shareholders to follow its official Twitter account for accurate and timely updates on the subject: https://twitter.com/MajicCorp.

For clarity, a Caveat Emptor security “is a designation that the OTC Markets Group assigns to a security after it has been determined around the company that there may be potential risk to investors, including a promotion of suspicious actions, a known investigation of fraudulent activity by the company or insiders, regulatory suspensions or disruptive corporate actions, among other reasons.

David Chong, CEO of Majic Wheels Corp., comments: “We will update our shareholders and the general 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 soon as possible and are working on the “CE issue” to achieve the best possible outcome. »

At 8:30 a.m. EST today (May 16, 2022), Majic Wheels Corp. requested to stop trading MJWL, but the request was not granted.

For more information, please contact: [email protected]

About Majic Wheels Corp.
Majic Wheels Corp., listed and traded on the over-the-counter (OTC) market under the trading symbol “MJWL,” is a Wyoming-based holding company that plans to position itself as a power player in cutting-edge and disruptive industries like Fintech , Insuretech, software and crypto development through thoughtful and varied acquisitions. Comprised of a team with decades of experience and diverse backgrounds that give them unparalleled analytical skills and insight, Majic intends to be two steps ahead of the competitive crypto market, ever-changing and ever-changing. For a more in-depth review of Majic Wheels Corp., check out the company’s website: https://majiccorp.co/

SAFETY STATEMENT:
This press release contains forward-looking statements which can be identified by words such as “believes”, “expects”, “potential”, “plans”, “suggests”, “may”, “should”, “could”. “, ” to the intention of “. », or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from future results implied by such statements. These factors include, but are not limited to, our ability to continue to improve our products and systems to meet industry changes, our ability to expand our customer base and retain existing customers, our ability to compete effectively in our market segment, the lack of public information about our company, our ability to raise sufficient capital to fund our business, our operations, our ability to continue our operations and a limited public market for our common stock, among other risks. Many factors are difficult to accurately predict and are generally beyond the company’s control. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update forward-looking statements to reflect circumstances or events that occur after the date on which the forward-looking statements are made.

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