ECGI Expands Management Team with Seasoned Chief Financial Officer

Rhea-AI Summary

ECGI Holdings, Inc. has announced the appointment of Danny Wong as the new chief financial officer, enhancing its management team as it transitions into the North American cannabis market. Wong brings extensive experience from Fortune 500 companies and will oversee the company’s financial management. CEO William Chung emphasized the need for such talent to drive strong growth and build operational infrastructure in preparation for future revenue increases. ECGI plans to focus on acquiring distressed cannabis assets in California.

Positive

• Appointment of Danny Wong as CFO, bringing extensive experience from Fortune 500 companies.
• Wong's role to include financial management and infrastructure building in preparation for revenue growth.

Negative

• None.

LOS ANGELES, Nov. 16, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- ECGI Holdings, Inc. (OTC PINK: ECGI) (“ECGI” or the "Company"), which plans to operate as Elite Cannabis Group, today announces an important enhancement to its management team via the retention of Danny Wong as chief financial officer. Mr. Wong is a veteran of the financial services and consulting industries with substantial experience interfacing with C-suite executives at Fortune 500 companies. 

Mr. Wong will be responsible for all aspects of the Company’s financial management as it continues its transition into the North American cannabis marketplace.

William Chung, chief executive officer of ECGI, commented, “Our plans call for strong growth, and to execute upon our plans it is important to continue growing our executive ranks. Danny has the exact type of experience we require to take our operation to the next level. We welcome him to the ECGI team.”

Mr. Wong is a proven finance, audit and risk management leader with specific experience in M&A transactions, financial management, IT risk management, and audit preparation and execution. He plans to utilize his additional experience in designing internal control environments to build the Company’s infrastructure in preparation for the revenue growth planned by the board of directors.  He is joining the Company immediately.

About ECGI Holdings, Inc.

ECGI Holdings, Inc., which plans to operate as Elite Cannabis Group, is reorganizing as an acquisition-oriented corporation with California-based targets of under capitalized and distressed licensed cannabis assets, properties zoned for cannabis cultivation and processing, and cannabis companies operating in market sectors with national expansion possibilities. Additional information on the Company can be gained by contacting info@ecgiholdings.com.

Forward-looking Statements

This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.

Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to, economic conditions, changes in the laws or regulations, demand for products and services of the Company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.

For more information, please contact:

William Chung

Info@ECGIholdings.com

SOURCE: ECGI HOLDINGS, INC.

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FAQ

Who is the new CFO of ECGI?

Danny Wong has been appointed as the new CFO of ECGI Holdings, Inc.

What is ECGI's focus in the cannabis market?

ECGI plans to acquire distressed licensed cannabis assets and properties in California.

When was Danny Wong appointed as CFO of ECGI?

Danny Wong was appointed as CFO on November 16, 2021.

What experience does Danny Wong bring to ECGI?

Danny Wong has significant experience in financial services and consulting, interfacing with C-suite executives at Fortune 500 companies.

What did CEO William Chung say about ECGI's growth plans?

CEO William Chung stated that strong growth is planned and emphasized the importance of enhancing the executive team.