In a recent filing with the U.S. Securities and Exchange Commission, Marvion Inc., a company specializing in finance services, announced the departure of CHAN Man Chung from his positions as Chief Executive Officer, Chief Financial Officer, Secretary, and Director, effective Monday. CHAN Man Chung's decision to resign was attributed to personal reasons and not due to any disagreements with the company's operations, policies, or practices.
Concurrently with CHAN Man Chung's departure, CHAN Sze Yu has been appointed as the new Chief Executive Officer, Chief Financial Officer, Secretary, and Director of Marvion Inc. At 39 years old, CHAN Sze Yu brings a wealth of experience from the logistics and home furnishing industries, having served as the CEO of KSK Logistics Limited since 2023 and previously as a logistics contractor for various furniture companies from 2000 to 2016.
The company anticipates that CHAN Sze Yu's extensive experience and business network in logistics and home furnishing will provide valuable insights and facilitate the expansion of Marvion Inc.'s logistics and value-added services.
This executive transition comes at a time when the company, formerly known as Bonanza Goldfields Corp., continues to evolve its business strategy.
The information disclosed in this article is based on a press release statement from Marvion Inc. filed with the SEC.
In other recent news, Marvion Inc. has made significant strides in its business operations. The company has finalized the acquisition of United Warehouse Management Corp. (UWMC), a move expected to enhance Marvion's operational capabilities and broaden its market reach.
The transaction involved an exchange of all issued and outstanding securities of UWMC for 148,148,148 shares of Marvion Inc.'s common stock, with additional earnout payments totaling $5.5 million, contingent upon UWMC meeting certain net income targets.
Furthermore, Marvion Inc. has entered into a substantial stock purchase agreement involving the transfer of 10 million shares of Series A Preferred Stock to individuals LEE Ying Chiu Herbert and Young Chi Kin Eric. The agreement also includes an assumption of approximately $288,089 in liabilities by Mr. Young, to be settled as per the agreement.
These recent developments are part of Marvion's broader expansion strategy. Investors and market analysts will be closely monitoring Marvion's future announcements to understand the impact of these developments on the company's performance and strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.