Business
CGrowth Capital Inc. announces its new controlling shareholder, RedClip Holdings Inc, and a new strategic focus for 2023
CGrowth Capital Inc. announces its new controlling shareholder, RedClip Holdings Inc, and a new strategic focus for 2023.
About this update from Cgrowth Capital, Inc.
[{"type":"text","content":"\n BREMERTON, WA, Dec. 15, 2022 (GLOBE NEWSWIRE) -- CGrowth Capital Inc. (OTC: CGRA) today announced that the company’s controlling shares have been acquired by RedClip Holding Inc and the company is rolling out its new business plan.    CGRA will appoint a new executive board early in the new year. The proven and experienced team will drive the company’s new focus of consolidating and disrupting the growing sports and lifestyle sector, primarily through the acquisition and consolidation of growing disruptive technology businesses in the sector. Nicolas Link will hold an Interim CEO role until the new board is appointed and announced early in the new year. With the lifestyles of the world’s population evolving and continuing to evolve rapidly in the wake of the COVID-19 pandemic, this has led to an adoption of many new and improved lifestyle, sports, fitness, and wellbeing technologies. Demand has been enhanced by the general impatience and instant gratification and engagement demands of the millennial generation, much of which also snowballed during and after the pandemic. A vast amount of the global population now spends more time working remotely or on more flexible terms which is allowing people to gain a more balanced lifestyle and therefore dress less formally. Traditional fitness wear has become everyday attire for a large part of the population leading to an explosion in the fitness apparel market.  Simultaneously, new fitness regimes and new sports formats are being developed with traditional sports being re-invented into shorter, more exhilarating formats to satisfy the worlds enormous thirst for entertainment and content. All of this attributes to the heightened demand for new products and technologies in both new and traditional sports. Traditional sports are seeing substantially more investment, higher valuations, larger sponsorship deals, more modern and futuristic stadiums, deeper levels of spectator engagement, more exposure, and more integration with new technology. This leaves the sector and its supporting services wide open to disruption through new technology, products, and strategies. Traditionally the sports and lifestyle sector has been dominated by the usual global household brands while the opportunity exists for CGRA to consolidate smaller, rapidly growing, dynamic compa...