Business
Correction to Press Release of January 2, 2018 Re: Majestic Oil & Gas, Inc’s. Announcement of the Signing of Definitive Agreements With ATC Holding, Inc., Completing its Second Acquisition
Correction to Press Release of January 2, 2018 Re: Majestic Oil & Gas, Inc’s. Announcement of the Signing of Definitive Agreements With ATC Holding, Inc., Completing its Second Acquisition.
About this update from Mushrooms, Inc.
[{"type":"text","content":"\n\n ORLANDO, FL, March 21, 2018 (GLOBE NEWSWIRE) -- Majestic Oil & Gas, Inc. (OTC PINK: MJOG) is providing this news release to correct and update its January disclosure regarding the final agreements with the Palatka, FL-based ATC Holding, Inc. \n Subsequent to the original press release, both companies determined it would be in the best interest of the parties to modify the acquisition.  Over the last several months, MJOG has acquired several companies not related to the energy or remediation industries, and recognized that the public company (MJOG) should have a separate management team to oversee and support all of the subsidiaries in their growth efforts rather than one specific group that would have expertise in one segment. This will also allow each subsidiary to be operated on their own and not overburden the Officers and Directors of MJOG. After careful consideration, MJOG and ATC have amended the original merger agreement so that ATC Holdings, Inc., will be a 51% owned subsidiary of MJOG, and the prior shareholders of ATC will continue to own the remaining 49%.   As part of the agreement ATC shareholders will receive Preferred shares and can appoint one member to the board of directors of MJOG. This amended agreement will benefit both companies, as it will allow MJOG to enter into more market sectors, while still benefitting from its subsidiaries, such as ATC.  “We are very excited to have completed this deal with ATC. The success and proven track record of ATC in their industry is what we look for in companies we are seeking to bring into MJOG as part of our expanding business portfolio. We welcome both ATC Holdings management and its employees to the MJOG family,” said Calvin Lewis, President of MJOG. About Majestic Group Holdings, Inc. Majestic Group Holdings, Inc. was created to acquire and build a portfolio of some of the best companies in the Cannabis Market Today. With demand rising, and the industry booming, legal marijuana operators and companies in the cannabis industry are racing to develop new products and services, acquire land and other assets to enable the enhancement of drastically increasing revenue streams and production capabilities. We bring the best management available to expand these companies to their maximum growth, and potential.  Majest...