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TORONTO, June 14, 2024 /PRNewswire/ -- Visionary Holdings Inc. (the "Company") (NASDAQ: GV), a private education provider with technology of artificial intelligence and life science on the cutting edge, with subsidiaries in Canada and market partners in China, today announced the Company's CEO Mr. Zhong Chen' letter to the public.
Due to the impact of the post-pandemic period and the increase in bank interest rates, the global economy has become more sluggish, presenting the Company with unprecedented challenges. Additionally, the pressure on the Company's operations and development has multiplied. In pursuit of greater development, the Company has kept pace with the times by promptly adjusting its strategy and actively recruiting outstanding talent. It has successfully transitioned into the artificial intelligence and high-tech industries, forming a new leadership team with Mr. Zhong Chen as the CEO. Under the leadership of the new team, the Company has achieved remarkable results in a short period. Not only has it successfully regains compliance with Nasdaq minimum bid price requirement, but it has also significantly tapped into and developed internal resources. The Company is upgrading and renovating its four properties located at #95-105 105 Moatfield Dr, Toronto, Ontario, Canada, M3B 0A2 and #200-260 Town Centre, Markham, ON L3R 8H8. By taking full advantage of favorable current Canadian policies, specifically the surplus of commercial real estate and the shortage of mixed-use and high-end apartments, the company plans to submit renovation proposals to the government to convert #200-260 Town Centre, Markham, ON L3R 8H8 and #95-105 Moatfield Dr, Toronto, Ontario, Canada, M3B 0A2 into mixed-use and high-end residential apartments. This is expected to increase their value by over 700%, generating more than US$2.1 billion in revenue and US$500 million in profit over the next five years.
The new leadership team is committed to innovation and change, actively responding to market changes, and always prioritizing the interests of shareholders and the Company. To better develop the property at #95-105 Moatfield Dr, Toronto, Ontario, Canada, M3B 0A2 the Company plans to file F3 to rapidly drive the growth of the new business, thereby creating greater value for shareholders and society. As the CEO of the Company, I am fully aware of the significant responsibilities I bear.
In the future, we will continue to uphold the corporate spirit of "vision and foresight," continuously enhancing our technological innovation capabilities and expanding our market presence. We will also place greater emphasis on corporate social responsibility. We believe that only by simultaneously achieving company value growth and actively giving back to society can we truly realize sustainable development.