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LAS VEGAS, Jan. 23, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – MedCareers Group, Inc. (MCGI: OTC pink) is pleased to announce that it is in final discussions with an institutional investor for a multi-million dollar financing that will be significantly less costly for the company. Additionally, the institutional investor could potentially take over part of the existing debt on the books of the company. The company expects to enter into definitive agreements with this investor in the next two weeks.
The company is also planning to undergo a financial restructuring in order to qualify to uplist to the OTCQB exchange, which is a more senior exchange than the one the company is currently listed on now.
“We are very pleased to have attracted an institutional investor as we work to uplist to the OTCQB,” said Timothy Armes, President and CEO of MedCareers, “Attracting lower cost financing will assist in supporting our anticipated growth for this year and moving forward.”
The Company expects to have the financial statements for its wholly owned subsidiary, The 4 Less Corp., ready within the next two weeks. These financial statements will cover the two fiscal years ended January 31, 2017 and January 31, 2018. The financial statements for year ending January 31, 2019 will be available on the company’s audited year end statements to be filed March 31, 2019.
This press release should be read in conjunction with the company’s filings on www.sec.gov
About MedCareers Group, Inc.
With the recent final closing of the acquisition of the 4Less Corp., MCGI is focusing all of their efforts and resources on building out their fast growing ecommerce automotive specialty equipment parts and accessories company with highly targeted "niche" web sites.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements, including information about management's view of the Company's future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Factors that could cause results to differ include but are not limited to, successful performance of internal plans, product or services development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct (i) its own forward-looking statements, except as required by law, or (ii) those prepared by third parties that are not paid for by the Company.
For more information, contact:
President and CEO of MedCareers Group, Inc.