ATIF Provided OTC Listing Advisory Services
to Addentax in 2016
IRVINE,
Calif., Sept. 2, 2022 /PRNewswire/ -- ATIF
Holdings Limited (Nasdaq: ATIF) (the "Company," or "We"), a holding
company providing business and financial consulting services in
Asia and North America, is pleased to announce that its
client, Addentax Group Corp. (Nasdaq: ATXG, "Addentax"), whose
common stocks was traded on OTC Markets, has been approved to
list on Nasdaq Capital Market and made a strong
debut on August 31,
2022.
Addentax is an integrated service provider focusing on
garment manufacturing, logistics service, property management and
subleasing, and epidemic prevention supplies. It announced the
pricing of an underwritten public offering (the "Offering") of
5,000,000 shares of its common stock at a price to the public
of $5.00 per share, for total gross proceeds of
approximately $25 million, before deducting underwriting
discounts and other related expenses.
On its first day of trading on August 31, 2022, Addentax opened at
$27.00 and closed the day at
$656.54, a 13,031% jump from the
offering price $5.00 with a market cap of $20.8 billion.
Jun Liu, President, Chairman of
the Board, and CEO of ATIF, commented, " We are excited to
hear the news and we congratulate Addentax on its successful uplist
to Nasdaq! It takes professionalism and patience to nurture a
company. We served as a advisor to Addentax on its OTC listing
in 2016 and today it finally made its debut on Nasdaq. Moreover,
Addentax shows its strong performance on its first day of
trading, and its market capitalization has soared 130 times on its
closing day. I sincerely hope that with the boost of the market,
Addentax will make further achievements and continue its good
performance!"
About ATIF Holdings Limited
ATIF Holdings Limited ("ATIF") is a holding group with business
consulting, asset management, and investment businesses, with
offices in Los Angeles,
California, Hong Kong, and
Shenzhen, China. ATIF mainly
provides IPO Advisory Services to small and medium-sized
enterprises in Asia and
North America. ATIF has advised
several enterprises in China in
their plans to become publicly listed in the United States. ATIF was awarded the "Top
10 Best Listed Companies 2019" from the "Golden Bauhinia Award,"
the highest award in Hong Kong's
financial and securities industry. For more information, please
visit https://ir.atifchina.com/.
To learn more about IPOEX, our financial services platform,
please visit: https://www.ipoex.com/
For more information about NFTDPO, our NFT service division,
please visit https://nftdpo.com/.
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Forward-Looking Statements
Certain 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 guarantee 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 obtain additional financing in
the future to fund capital expenditures; ability to attract new
clients, complete projects for 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; the
occurrence of any event, change or other circumstances that could
affect the Company's ability to continue successful development and
launch of its NFT collection; the possibility that the Company may
not succeed in developing its NFT platform and business due to,
among other things, changes in the business environment,
competition, changes in governmental regulation, or other economic
and policy factors; the ability of the Company to continue
compliance with the development of applicable regulatory
regulations in connection with blockchain, digital assets and the
NFT industry; the possibility that the Company's ongoing NFT
services may be adversely affected by other economic, business,
and/or competitive factors; 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.
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SOURCE ATIF Holdings Limited