Visionary on the Move

Rhea-AI Summary

Visionary Holdings (NASDAQ: GV) announced strategic shifts and operational updates amid global economic challenges. CEO Zhong Chen highlighted the company's move into AI and high-tech sectors, resulting in compliance with Nasdaq's bid price requirement. The company is upgrading its properties in Toronto and Markham, planning conversions to mixed-use and high-end apartments, potentially increasing property values by over 700% and generating $2.1 billion in revenue and $500 million in profit over the next five years. The new leadership emphasizes innovation, market responsiveness, and shareholder value, planning to file an F3 form to boost business growth.

Positive

• Successfully regained compliance with Nasdaq's minimum bid price requirement.
• Transitioned into the AI and high-tech industries under new leadership.
• Planned property conversions expected to increase values by over 700%.
• Projected revenue of $2.1 billion and profit of $500 million over the next five years.
• New leadership team focused on innovation and market changes.
• Emphasis on enhancing technological innovation and market expansion.

Negative

• Global economic challenges due to post-pandemic effects and rising bank interest rates.
• Increased operational and development pressures.
• Dependence on favorable Canadian policies for property conversions.
• Potential delays or denials in government approval for renovation proposals.

TORONTO, June 14, 2024 /PRNewswire/ -- Visionary Holdings Inc. (the "Company") (NASDAQ: GV), a private education provider with technology of artificial intelligence and life science on the cutting edge, with subsidiaries in Canada and market partners in China, today announced the Company's CEO Mr. Zhong Chen' letter to the public.

Due to the impact of the post-pandemic period and the increase in bank interest rates, the global economy has become more sluggish, presenting the Company with unprecedented challenges. Additionally, the pressure on the Company's operations and development has multiplied. In pursuit of greater development, the Company has kept pace with the times by promptly adjusting its strategy and actively recruiting outstanding talent. It has successfully transitioned into the artificial intelligence and high-tech industries, forming a new leadership team with Mr. Zhong Chen as the CEO. Under the leadership of the new team, the Company has achieved remarkable results in a short period. Not only has it successfully regains compliance with Nasdaq minimum bid price requirement, but it has also significantly tapped into and developed internal resources. The Company is upgrading and renovating its four properties located at #95-105 105 Moatfield Dr, Toronto, Ontario, Canada, M3B 0A2 and #200-260 Town Centre, Markham, ON L3R 8H8. By taking full advantage of favorable current Canadian policies, specifically the surplus of commercial real estate and the shortage of mixed-use and high-end apartments, the company plans to submit renovation proposals to the government to convert #200-260 Town Centre, Markham, ON L3R 8H8 and #95-105 Moatfield Dr, Toronto, Ontario, Canada, M3B 0A2 into mixed-use and high-end residential apartments. This is expected to increase their value by over 700%, generating more than US$2.1 billion in revenue and US$500 million in profit over the next five years.

The new leadership team is committed to innovation and change, actively responding to market changes, and always prioritizing the interests of shareholders and the Company. To better develop the property at #95-105 Moatfield Dr, Toronto, Ontario, Canada, M3B 0A2 the Company plans to file F3 to rapidly drive the growth of the new business, thereby creating greater value for shareholders and society. As the CEO of the Company, I am fully aware of the significant responsibilities I bear.

In the future, we will continue to uphold the corporate spirit of "vision and foresight," continuously enhancing our technological innovation capabilities and expanding our market presence. We will also place greater emphasis on corporate social responsibility. We believe that only by simultaneously achieving company value growth and actively giving back to society can we truly realize sustainable development.

About Visionary Holdings Inc.

Visionary Holdings Inc. headquartered in Toronto, Canada, is a private education provider located in Canada, with subsidiaries in Canada and market partners in China, that offers high-quality education resources to students around the globe. The Company aims to provide access to secondary, college, undergraduate and graduate and vocational education to students in Canada through technological innovation so that more people can learn, grow and succeed to their full potential. As a fully integrated provider of educational programs and services in Canada, the Company has been serving and will continue to serve both Canadian and international students. For more information, visit the Company's website at https://ir.visiongroupca.com/. 

Forward-Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "believes," "expects," "anticipates," "estimates," "intends," "would," "continue," "should," "may," or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and in its other filings with the SEC.

For more information, please contact:

Visionary Holdings Inc.
Investor Relations Department
Email: ir@farvision.ca

View original content:https://www.prnewswire.com/news-releases/visionary-on-the-move-302173156.html

SOURCE Visionary Holdings Inc.

FAQ

What strategic changes has Visionary Holdings (NASDAQ: GV) implemented?

Visionary Holdings transitioned into the AI and high-tech sectors and recruited a new leadership team led by CEO Zhong Chen.

How did Visionary Holdings (NASDAQ: GV) regain compliance with Nasdaq?

By adjusting its strategy and tapping into internal resources, Visionary Holdings regained compliance with Nasdaq's minimum bid price requirement.

What are the projected financial benefits of Visionary Holdings' property conversions?

The property conversions are expected to increase values by over 700%, generating $2.1 billion in revenue and $500 million in profit over the next five years.

What challenges does Visionary Holdings (NASDAQ: GV) face?

The company faces challenges from a sluggish global economy, increased operational pressures, and dependence on favorable Canadian policies.

What is Visionary Holdings' strategy for future growth?

Visionary Holdings plans to enhance technological innovation, expand market presence, and file an F3 form to drive new business growth.

What properties is Visionary Holdings (NASDAQ: GV) upgrading?

The company is upgrading properties at #95-105 Moatfield Dr, Toronto, and #200-260 Town Centre, Markham, with plans for mixed-use and high-end residential conversions.