NORDICUS PARTNERS CORPORATION TAKES A SIGNIFICANT EQUITY STAKE IN MAG MILE CAPITAL, INC.
Las Vegas, Nevada., June 21, 2023 (GLOBE NEWSWIRE) — Nordicus Partners Corporation (OTC PINK: NORD) (“Nordicus” or the “Company”), a financial consulting company, specializing in providing Nordic and U.S. companies with the best possible conditions to establish themselves on the U.S. market, today announced it entered into a Stock Purchase and Sale Agreement (the “Agreement”), under which a private seller sold to the Company 5,000,000 restricted shares of common stock of Mag Mile Capital, Inc. (“MYSN” or the “Myson Shares”). In exchange, the Company issued 2,500,000 restricted shares at $1.00 per share of its common stock (the “Company Shares”) to the seller. The transaction was consummated on June 20, 2023.
Mag Mile Capital, Inc. (“Mag Mile Capital”) is a full-service commercial real estate mortgage banking firm headquartered in Chicago with offices in the states of New York, Massachusetts, Connecticut, Florida, Texas and Nevada. Mag Mile Capital is a national platform comprised of capital markets specialists with extensive experience in real estate bridge financing, mezzanine and permanent debt placement and equity arrangements throughout the full capital stack and across all major real estate asset classes nationwide, including hotels, multifamily, office, retail, industrial, healthcare, self-storage and special purpose properties, offering access to structured debt and equity advisory solutions and placement for real estate investors, developers, and entrepreneurs, Mag Mile Capital leverages a wide variety of lending relationships and equity capital connections as a leading national real estate mortgage intermediary. Its personnel have collectively raised over $9 billion in real estate financing during their combined 29 years of experience in this industry.
In addition to the mortgage banking business, Mag Mile Capital is developing a commercial real estate origination software platform named CapLogiq that uses automation and artificial intelligence (“AI”) to increase the efficiency of the loan closing process.
Henrik Rouf, CEO of Nordicus, said, “We believe that with Nordicus taking a significant stake in Mag Mile Capital and its AI platform, Caplogiq, it adds value to the Company’s strategy of assisting and investing in high growth technology companies throughout the US, Nordic and Scandinavian regions looking to engage Nordicus’ services and offerings”.
About Nordicus Partners Corporation
Nordicus Partners Corporation and its Denmark-based financial consulting company, specializes in providing Nordic companies with the best possible conditions to establish themselves on the U.S. market, taking advantage of management’s combined +90 years of experience in the corporate sector, serving in different capacities both domestically and globally. The company’s core competencies lie in assisting Danish as well as other Nordic and international companies in different areas of corporate finance activities, such as: business valuations, growth strategies, attracting capital for businesses and company acquisitions and sales.
The Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as “may,” “might,” “would,” “should,” “could,” “project,” “estimate,” “pro-forma,” “predict,” “potential,” “strategy,” “anticipate,” “attempt,” “develop,” “plan,” “help,” “believe,” “continue,” “intend,” “expect,” “future,” and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management for future operations, are based on management’s current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the company’s products and services; competition from existing products or new products that may emerge; the implementation of the company’s business model and strategic plans for its business and our products; estimates of the company’s future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company’s competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on such risks and uncertainties, you are encouraged to review the Company’s filings with the Securities and Exchange Commission (“SEC”), including its Current Report on Form 8-K relating to the reverse acquisition and related transactions which was filed with the SEC on March 1, 2023 and its quarterly report on Form 10-Q for the fiscal period ended December 31, 2022. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.
For further information contact:
Mr. Henrik Rouf
Chief Executive Officer
Phone +1 310 666.0750
Email [email protected]