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CGrowth Capital (OTC: CGRA) is focused on acquiring and consolidating businesses in the sports and lifestyle sectors. Under new management, the company is laying a solid foundation for growth, with key back-office processes being established by the end of March 2023. CGRA has made its first acquisition with Savage Barbell, a leader in functional fitness apparel, and is pursuing more acquisitions, including a prominent boxing company. The company's strategy is supported by the growing viewership of combat sports, leveraging a $500 billion global sports market.
CGrowth Capital Inc. (OTC: CGRA) announced the acquisition of its controlling shares by RedClip Holding Inc. A new executive board will be appointed in early 2023 to implement a strategy focused on consolidating and disrupting the sports and lifestyle sectors. Interim CEO Nicolas Link will lead this transition and has facilitated agreements for two upcoming acquisitions. The company plans to file an S-1 with the SEC in Q1 2023. The acquisitions aim to leverage disruptive technology and expand globally in response to evolving consumer demands post-COVID-19.
CGrowth Capital, Inc. (OTC Pink: CGRA) has announced a Share Exchange Agreement to acquire a Minerals Company, aiming for a wholly-owned subsidiary and management change. The acquisition requires the Minerals Company to complete a two-year audit for uplisting as a fully audited entity. CGrowth Capital plans to divest debts and restructure equity before closing, anticipated in 60 to 120 days. This strategic move aims to facilitate future growth through asset acquisition and senior exchange listings, while adhering to a non-disclosure agreement until conditions are met.
CGrowth Capital, Inc. (OTC Pink: CGRA) has provided an update on its Bahamian Petroleum Project, encompassing over 8,000 acres of land leases. WBS Organization is mobilizing teams to handle necessary property amalgamations and permit transfers, potentially delaying the Letter of Intent's closure into 2022. The Company is also preparing to file a Tier 1 Regulation A offering and commission a Competent Persons Report on its oil assets in Wyoming. The project aims to explore significant oil reserves, with estimates indicating 1,600 million barrels of undiscovered oil resources based on a USGS assessment.
CGrowth Capital, Inc. (OTC Pink: CGRA) has announced a master consulting agreement with Stallion Energy Group LLC to support their oil and gas operations in the US and Bahamas. The Stallion team brings over 100 years of combined industry experience. Additionally, CGrowth is processing a Tier 1 Regulation A offering to raise up to $20 million for advancing production at the West Salt Creek field in Wyoming and exploring the Bahamian Petroleum Project. Stallion Energy Group is expected to play a crucial role in these initiatives.
CGrowth Capital (OTC Pink: CGRA) announced a Letter of Intent with WBS Organization to acquire rights to a Bahamian Petroleum Project for $15 million, using Series A Preferred Stock. The acquisition encompasses over 8,000 acres and aims to advance exploratory operations, with plans to raise $20 million through a Tier 1 Regulation A filing to facilitate seismic research and drilling at its Wyoming property. The project holds significant potential, with previous studies indicating substantial undiscovered oil resources in the area, prompting optimistic projections for successful oil extraction.
On August 18, 2021, CGrowth Capital, Inc. (OTC Pink: CGRA) announced strategic updates regarding its cannabis facility in Washington and the launch of its NutriLife CBD business. The company is pursuing funding for its expansion and aims to produce Delta-8 products, which are federally legal under the 2018 Farm Bill. As part of a streamlining strategy, CGRA plans to divest non-performing assets to reduce debt and facilitate efficient auditing, aiming for uplisting to a fully reporting status. Further updates will follow as arrangements are finalized.