MAJIC WELCOMES NEW MEMBERS TO ITS BOARD OF DIRECTORS

Rhea-AI Summary

Majic Wheels Corp (OTC Pink: MJWL) has appointed a new board of directors, aiming to strengthen its position in the fintech and software development sectors through strategic acquisitions. Key appointments include Mr. Sathyanandham Anguswami as Executive Director & COO, Mr. Subramanyeswara Sarma Vempati as Executive Director & CFO, Mr. Kottarapattil Asok Don as Executive Director & CTO, and Mr. Amir Dossal as Independent Director. Each brings extensive experience in finance, technology, and management, which is expected to enhance the company's growth trajectory.

Positive

• Appointment of experienced executives could accelerate business expansion.
• New directors bring diverse expertise in fintech and software development.

Negative

• None.

Houston, Texas, Dec. 23, 2021 (GLOBE NEWSWIRE) -- Majic Wheels, Corp. (OTC Pink: MJWL) ("Majic" or the "Company"), a Delaware corporation, that is positioning itself as a player in the disruptive industries of fintech and software development by means of acquisitions, announces the appointment of new directors to the board.

Majic Wheels Corp warmly welcomes Mr. Sathyanandham Anguswami as Executive Director & COO, Mr. Subramanyeswara Sarma Vempati as Executive Director & CFO, Mr.  Kottarapattil Asok Don as Executive Director & CTO and Mr. Amir Dossal as Independent Director.

Mr. Anguswami, Director & COO, brings with him 30 years of fund management experience specialized in technical analysis of global currency futures & options and crypto markets. Since joining CGCX in 2017, Mr. Anguswami has been instrumental to the fast-paced growth of Calfin Global Crypto Exchange. Earlier, he was managing a Dubai Gold and Commodities Exchange member firm for about a decade and had successfully launched a Shariah Compliant Managed Commodities Account, a first of its kind for gold futures contracts in the region. Mr. Anguswami’s main role will consist of maximizing the synergies of the planned acquisitions of the Company.

As Chief Finance Officer of Majic, Mr. Vempati will lead a top-notch finance and accounting team to implement prudent financial strategies to accelerate business expansion and profitable growth. Mr. Vempati currently holds the position of Chief Finance Officer of CGCX and prior to that, he was the finance manager at Octagon International, Dubai, UAE. He also has a background and experience as an Investment Analyst from his previous roles at Al Rostamani Capital, Dubai, UAE and as a Research Analyst at Anush Shares and Securities, Chennai, India. Mr. Vempati’s wide experience at fast-growing companies and his strong background in audit and financial control will be valuable assets in the next stages of Majic’s development.

Mr. Don brings a deep technical experience to the team with his comprehensive background in Blockchain, Big Data, Machine Learning, Data Analytics, Multimedia, Software Architecture Design, and Digital Consultation.  In addition, he brings a new energy in his capacity as CTO to propel Majic into its next phase of growth. Don’s true visionary mindset, combined with the suite of innovative technology, will lead Majic’s continued investments in the fintech field.

In addition, Amir Dossal, an UK based Chartered Accountant and a 25-year veteran of the United Nations, has joined Majic Wheels Corp as an Independent Director. With numerous global recognitions & laurels to his name, Dossal will be instrumental in shaping growth strategies, global expansions to further strengthen the internal controls, improve the corporate governance, and prepare the Company for its next stage of growth. He would also serve as the Chairman of the Audit Committee of Majic.

“The new team of directors to the board possesses a rich experience handling various aspects of global fintech businesses in addition to strategy formulation for business digital transformation. They bring in rich insights on strategy, execution, stakeholder management, managing risks and regulatory affairs. Their diverse knowledge and expertise will surely help us steer ahead in our future-fit journey.” said David Chong, Chief Executive Officer of Majic Wheels Corp.

Being the Delaware holding corporation that pushes the boundaries in disruptive fintech & software industries with multiple acquisitions, Majic Wheels Corp continues its successful journey to pinnacle growth with a globally renowned & experienced executive team.

About Majic Wheels Corp.

Majic Wheels Corp Inc., a Delaware holding corporation, that has positioned itself as a player in the disruptive industries of Fintech and software development by means of multiple acquisitions. The Company's first acquisition is the cryptocurrency exchange, cryptocurrency mining farm and custody services platform: Calfin Global Crypto Exchange (CGCX). Majic Wheels Corp. is listed and traded on the Over-the-Counter Market under the trading symbol "MJWL".                                                                                                       

For more information about the Company, visit:

Our OTC Markets Profile: https://www.otcmarkets.com/stock/mjwl/overview
Our website is: https://majiccorp.co/
Our Twitter account is: https://twitter.com/MajicCorp
Our Discord: https://discord.gg/apolloassets

About CGCX Ltd.
Founded in 2018, Calfin Global Crypto Exchange CGCX set out to offer a highly sophisticated cryptocurrency exchange for a seamless & secure crypto trading experience. Unlike most exchanges that offer only cryptocurrency trading, CGCX caters to the larger blockchain community by providing four services under a single platform.

CGCX Website: https://www.cgcx.io

SAFE HARBOR STATEMENT

This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

SOURCE: Majic Wheels Corp.

FOR MORE INFORMATION, PLEASE CONTACT:

David Chong

Email: info@majiccorp.co

FAQ

Who are the new directors of Majic Wheels Corp (MJWL)?

The new directors include Mr. Sathyanandham Anguswami (COO), Mr. Subramanyeswara Sarma Vempati (CFO), Mr. Kottarapattil Asok Don (CTO), and Mr. Amir Dossal (Independent Director).

What is the role of Mr. Anguswami in Majic Wheels Corp (MJWL)?

Mr. Anguswami serves as Executive Director & COO, focusing on maximizing synergies from planned acquisitions.

What impact could the new management have on Majic Wheels Corp (MJWL)?

The new management team is expected to enhance growth strategies and accelerate business expansion in fintech and software sectors.

What are the backgrounds of the new directors at Majic Wheels Corp (MJWL)?

The new directors have extensive experience in fund management, finance, technology, and corporate governance, enhancing the company's strategic capabilities.