SHENZHEN, China, April 22, 2020 (GLOBE NEWSWIRE) — ATIF Holdings Limited (NASDAQ: ATIF)(the “Company”), a company providing business consulting services to small and medium-sized enterprises in Asia, today announced that the Company, through its variable interest entity in China, Qianhai Asia Time (Shenzhen) International Financial Services Co., Ltd. (“ATIF Shenzhen”), entered into a consulting service agreement (the “Agreement”) to act as a business advisor for Caiz Optronics Corp. (“Caiz”). The Agreement was signed in anticipation of Caiz’s entrance into the U.S. capital market.
Pursuant to the Agreement dated February 3, 2020, ATIF Shenzhen agreed to provide services including business consulting, capital market advising for business planning and strategy development, planning and assisting with fund raising activities, and investor and public relations services. As consideration, Caiz agreed to pay ATIF Shenzhen a fix consulting fee of US$1 million, to be paid in installments and subject to certain conditions.Mr. Jun Liu, CEO and Director of ATIF, commented, “We are excited to sign the consulting service agreement with Caiz. Caiz is an excellent enterprise with a bright future and, once it enters the U.S. capital market, we expect it to have better access to capital from international investors, improve brand popularity, and acquire more customers so that it can expand its business to generate more profits on an international platform. We will do our best to help Caiz go public and to provide guidance on its listing and development.”About ATIF Holdings LimitedHeadquartered in Shenzhen, China, ATIF is a company providing business consulting services to small and medium-sized enterprises in Asia. The Company’s core businesses include going public consulting services, international business planning and consulting services, and financial media services. The Company has advised several enterprises in China in their plans to become publicly listed in the U.S. At present, the Company has business centers and service centers in Hong Kong and Shenzhen, composed of experienced consulting professionals. The Company owns www.chinacnnm.com, a news and media website that provides social news and financial information to the Asian region. For more information, please visit http://www.atifchina.com.About Caiz Optronics Corp.Headquartered in Shenzhen, Caiz Optronics Corp. was founded in 2002. Caiz is a printed circuit board (“PCB”) production equipment manufacturer with strong research and development in both hardware and software applications. Caiz provides LDI (“Laser Direct Imaging”) equipment and follow-up services for PCB manufacturers worldwide with its independently developed core technology of LDI hardware and its unique adjustable automatic production line. For more information, please visit http://www.caizcorp.com.Forward-Looking StatementsCertain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: future financial and operating results, including revenues, income, expenditures, cash balances and other financial items; ability to manage growth and expansion; current and future economic and political conditions; ability to compete in an industry with low barriers to entry; ability to continue to operate through our VIE structure; ability to obtain additional financing in the future to fund capital expenditures; ability to attract new clients, and further enhance brand recognition; ability to hire and retain qualified management personnel and key employees; trends and competition in the financial consulting services industry; a pandemic or epidemic; and other factors listed in the Company’s annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions you that actual results may differ materially from the anticipated results expressed or implied by the forward-looking statements we make. You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management’s beliefs and assumptions only as of the date such statements are made. These forward-looking statements are made as of the date of this news release.For more information, please contact Investor Relations at:
Tina Xiao
Ascent Investor Relations LLC
Phone: +1-917-609-0333
Email: [email protected]
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