The Marquie Group Retires S-1 In Continued Commitment to Shareholders
The Marquie Group, Inc. (TMGI) has retired its S-1 registration to address shareholder concerns, promising no reverse split and a significant reduction in authorized shares. CEO Marc Angell emphasizes enhancing shareholder value and confidence through structured growth and strategic partnerships.
03/14/2024 - 09:15 AM
ST. PETERSBURG, Fla., March 14, 2024 (GLOBE NEWSWIRE) -- The Marquie Group, Inc. (OTCMKTS: TMGI), a growing force within the health and beauty industry, has announced that as part of its ongoing commitment to its shareholders, management has retired its S-1 registration. This is another momentous step in addressing the issues that have impacted shareholders and valuation. Additionally, the Company has reiterated its stance that there will be no reverse split, and its authorized shares will be reduced significantly which will be reflected in the upcoming 10-Q filing.
Marc Angell, CEO of The Marquie Group , expressed, “To enhance shareholder value and bolster confidence, we are halting the issuance of shares under the S-1 registration effective immediately. We want to show our shareholders, through these ongoing actions, our dedication to building a properly structured and successful Company.”
Mr. Angell continued, “In light of our most recent and expanding relationships with some of the biggest names in the industry as well as our upcoming product launches, this is a pivotal move in achieving that objective. We are excited with the pipeline of opportunities the Company has identified and look forward to communicating these developments as they are executed.”
Further, management has stated that additional efforts are underway to eliminate debt, improve the capital structure, and strengthen financials. There will be ongoing communication and updates as these endeavors progress.
About The Marquie Group, Inc.
The Marquie Group is celebrated for its Whim brand, a health and beauty product line distinguished by its commitment to safety, effectiveness, and superior quality. Whim’s offerings are distributed across multiple platforms including SimplyWhim.com , Amazon , on Public Square , and through radio advertisements on the Company’s nationwide network, Music of Your Life – the world’s longest continuously running syndicated music radio network. The brand is dedicated to advancing consumer health and safety, a commitment stemming from the urgent need for enhanced standards and regulations within the beauty sector. Whim proudly manufactures its products in the USA.
Forward Looking Statements
This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Company’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.
Investor and Media Inquiries
What is the latest announcement from The Marquie Group, Inc. (TMGI)?
The latest announcement involves the retirement of the S-1 registration by the company to address shareholder concerns and improve valuation.
What actions is The Marquie Group, Inc. (TMGI) taking to enhance shareholder value?
The company is halting the issuance of shares under the S-1 registration, promising no reverse split, and significantly reducing authorized shares.
Who is the CEO of The Marquie Group, Inc. (TMGI) and what is his stance on the recent developments?
The CEO, Marc Angell, emphasized the dedication to building a successful company with structured growth and strategic partnerships to enhance shareholder value and confidence.
What are the upcoming plans of The Marquie Group, Inc. (TMGI) after retiring the S-1 registration?
The company aims to strengthen financials, eliminate debt, and improve the capital structure while communicating ongoing updates to shareholders.
What are the key points highlighted by The Marquie Group, Inc. (TMGI) regarding its recent actions?
The company is focused on enhancing shareholder value, building strategic partnerships, and improving financials to ensure a successful and properly structured company.
