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BREMERTON, VA, December 15, 2022 (GLOBE NEWSWIRE) — CGrovth Capital Inc. (OTC: CGRA) announced today that the company’s controlling shares have been acquired by RedClip Holding Inc. and that the company is launching its new business plan.
CGRA will appoint a new executive board at the beginning of the new year. The proven and experienced team will drive the company’s new focus on consolidating and disrupting the growing sports and lifestyle sector, primarily through the acquisition and consolidation of growing disruptive technology businesses in the sector. Nicholas Link will serve as interim CEO until a new board is appointed and announced early in the new year.
With the lifestyle of the world’s population evolving and continuing to evolve rapidly after the COVID-19 pandemic, it has led to the adoption of many new and improved technologies for lifestyle, sports, fitness and well-being. Demand has been boosted by the general impatience and demands for instant gratification and engagement of the millennial generation, much of which also fell during and after the pandemic. A huge part of the global population now spends more time working remotely or under more flexible conditions, which allows people to have a more balanced lifestyle and therefore dress less formally. Traditional fitness wear has become everyday wear for a large portion of the population which has led to an explosion in the fitness wear market. At the same time, new fitness regimes and new sports formats are being developed with traditional sports being reinvented into shorter, more exciting formats to satisfy the world’s massive thirst for entertainment and content. He attributes all this to the increased demand for new products and technologies in new and traditional sports. Traditional sports are experiencing significantly more investment, higher valuations, larger sponsorship deals, more modern and futuristic stadiums, deeper levels of spectator engagement, greater exposure and greater integration with new technology. This leaves the sector and its associated services wide open to disruption through new technologies, products and strategies.
Traditionally the sports and lifestyle sector has been dominated by the usual global household brands, while there is an opportunity for CGRA to consolidate smaller, fast-growing, dynamic companies that have disruptive technology or products, but require more corporate structure, as well as infrastructure and access to a larger distribution network and capital .
Interim CEO, Nicolas Link, has access to a wide network of international celebrities and sports stars, sports team owners, stadium owners and distribution channels that will allow the company to open new doors and leverage routes to market, as well as brand support for new companies, their technology and products.
CGRA has agreed terms for its first two acquisitions and expects to complete due diligence on the first acquisition in the coming days. The company expects to sign a Share Purchase Agreement in the next few weeks, which will lead to the brand’s participation in a niche global sporting event early in the new year. The business already sells from the US to more than 10 countries through a limited distribution channel with minimal marketing and is now perfectly positioned to expand its range and scale globally.
The second acquisition is that of a disruptive IoT company with technology aimed at sports facilities, stadiums, events and other lifestyle venues around the world. The technology is highly scalable and the company has already introduced pilot installations in several leading sports stadiums in the UK, USA, South Africa and Australia. Due to the added value of the technology and the huge interest in it, we would expect to gain global popularity in a short period of time by partnering with global brands on a revenue sharing model.
CGRA has begun preparing the S-1 it expects to file with the Securities and Exchange Commission (SEC) in the first quarter of 2023, following the filing of audited annual results. After the effective date of the Form S-1, CGRA will be subject to SEC reporting requirements.
CGRA believes that the new acquisitions and experienced management will lead to extensive growth for the company, with further additional acquisitions planned. CGRA’s new interim CEO and director, Nicolas Link, will lead the recruitment of experienced officers and board members, including the appointment of an experienced CEO, before transitioning to the position of company chairman in early 2023, as he has successfully done with several companies in of the past. Mr. Link is a well-established serial entrepreneur who has led the founding and rapid growth of several successful private and public companies.
“We have plans for CGRA to become a leader and disruptor in the sports and lifestyle industry through consolidation and pioneering advanced technology in the sector.” I am always focused on businesses that can expand globally. With two very exciting acquisitions coming up, which are already performing impressively, I am very excited about the company’s growth prospects. I look forward to the appointments over the next month, of an experienced board and management team with a proven track record of success in the industry. As with all companies I am involved with and with the resources available, I fully expect exceptional technological advancements and the global rollout of our acquisitions to deliver rapid growth, resulting in exceptional value for our shareholders. It is important to note that CGRA is not affiliated with ILUS (Ilustrato Pictures International Inc.) and although not formally affiliated, CGRA may have significant areas of common interest and strategic alliance with SWIFTI GLOBAL. said CGRA’s Interim Executive Director, Nicholas Link.
The company’s website and social media channels are in the process of being updated to reflect the new direction. For further information, see the company’s communication channels:
CONTACT:
Investor website: http://vvv.cgrovthcapital.com
Twitter: @CGRAOTC
info@CGrovthCapital.com
Forward looking statement:
Certain information set forth in this press release contains “forward-looking information,” including “forward-looking financial information” and “financial outlooks,” under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to (i) projected financial performance of the Company; (ii) completion and use of proceeds from the sale of shares offered hereunder; (iii) expected development of the Company’s operations, projects and joint ventures; (iv) implementing the Company’s vision and growth strategy, including with respect to future M&A activities and global growth; (v) the sources and availability of financing from third parties for the Company’s projects; (vi) completion of Company projects currently underway, under development or otherwise under consideration; (vi) renewal of the Company’s current customer, supplier and other material agreements; and (vii) future liquidity, working capital and capital requirements. Forward-looking statements are made to provide potential investors with an opportunity to understand management’s beliefs and opinions regarding the future so that they may use such beliefs and opinions as a factor in evaluating an investment. These statements are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which could cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Although the forward-looking statements contained in this presentation are based on what the Company’s management believes are reasonable assumptions, there can be no assurance that the forward-looking statements will prove to be correct, as actual results and future events could differ materially. differ from those expected in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions change, except as required by applicable securities laws. The reader is cautioned not to rely on forward-looking statements. The Securities and Exchange Commission (“SEC”) has provided guidance to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that our release of material financial information through official press releases, in addition to SEC filings, press releases, question and answer sessions, public conference calls and webcasts may also take time. on time. We use these channels as well as social media to communicate with the public about our company, our services and other matters. It is possible that the information we post on social networks may be considered material information. Therefore, in consideration of the SEC’s guidance, we encourage investors, the media and others interested in our company to review the information we publish on the following social and media channels: Website: http://www.cgrovthcapital.com Twitter: @CGRAOTC
SOURCE: CGrovth Capital Inc.

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