Latest news for Majic Wheels (OTC:MJWL) Stock

Majic Wheels Corp is engaged in waste management business engaged in junk removal, trash hauling, recycling, commercial and residential construction clean-up and demolition business.

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Majic Acquires 26% Stake In Bamboo Wellness

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Majic Wheels Corp

Majic Wheels

<ul>
	<li><strong>Majic Wheels Corp.</strong>&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MJWL#OTC">MJWL</a>) has&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/12/g24780577/majic-acquires-26-stake-in-bamboo-at-us-126-million-post-money-valuation" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">closed the acquisition&nbsp;</a>of a 26% equity stake in Bamboo Wellness Holdings Limited.</li>
	<li>The transaction valued at $26 million is being funded partly by cash and new shares of Majic, providing a post-money valuation of Bamboo at $126 million.</li>
	<li>Majic also holds an option to exercise the First Right of Refusal to increase the interest of Majic in Bamboo to 51% based upon the same terms.</li>
	<li>Bamboo will continue to be led by CEO Vincent Kwo and its existing senior leadership team and continue to operate as a separate company.</li>
	<li><strong>Price Action:</strong>&nbsp;MJWL shares are trading lower by 3.86% at $0.080 on the last check Monday.</li>
</ul>
 

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Majic Wheels

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Monday, December 27, 2021

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