BEIJING, May 2, 2023
/PRNewswire/ -- China Liberal Education Holdings Limited
(Nasdaq: CLEU) ("China Liberal," the "Company," or "we"), a
China-based company that provides
smart campus solutions and other educational services, today
announced that effective April 30,
2023, it terminated its previously announced Agreement and
Plan of Merger (the "Merger Agreement") with AIWAYS Holdings
Limited ("AIWAYS"), a global new energy vehicle brand, by sending
written notice to AIWAYS.
The board of directors of China Liberal held a meeting at
8:00 a.m. on April 26, 2023, Eastern Time, and unanimously approved the
termination of the Merger Agreement.
Ms. Ngai Ngai Lam, Chairwoman and
CEO of China Liberal, stated, "Although the proposed business
combination with AIWAYS did not come to fruition, China Liberal's
strength as a standalone business is indisputable. Our strategic
plan offers a clear roadmap for future growth, and we are eager to
build on our leadership position and capitalize on numerous
promising opportunities ahead. Our focus has always been on
creating shareholder value, and we remain committed to this vital
objective as we move forward."
About China Liberal Education Holdings Limited
China Liberal, headquartered in Beijing, is an educational service provider in
China. It provides a wide range of
services, including those under sino-foreign jointly managed
academic programs; overseas study consulting services;
technological consulting services for Chinese universities to
improve their campus information and data management system and to
optimize their teaching, operating and management environment,
creating a "smart campus"; and tailored job readiness training to
graduating students. For more information, please visit the
Company's website at ir.chinaliberal.com.
Forward-Looking Statements
This document contains forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on the Company's expectations and
projections about future events, which the Company derives from the
information currently available to the Company. Such
forward-looking statements relate to future events or our future
performance, including: our ability to successfully integrate the
newly acquired business; our financial performance and projections;
our growth in revenue and earnings; and our business prospects and
opportunities. You can identify forward-looking statements by those
that are not historical in nature, particularly those that use
terminology such as "may," "should," "expects," "anticipates,"
"contemplates," "estimates," "believes," "plans," "projected,"
"predicts," "potential," or "hopes" or the negative of these or
similar terms. In evaluating these forward-looking statements, you
should consider various factors, including: our ability to change
the direction of the Company; our ability to keep pace with new
technology and changing market needs; and the competitive
environment of our business. These and other factors may cause our
actual results to differ materially from any forward-looking
statement. Forward-looking statements are only predictions. The
forward-looking events discussed in this press release and other
statements made from time to time by us or our representatives, may
not occur, and actual events and results may differ materially and
are subject to risks, uncertainties and assumptions about us. 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 investors that actual results may differ
materially from the anticipated results and encourages investors to
review risk factors that may affect its future results in the
Company's registration statement and in its other filings with the
U.S. Securities and Exchange Commission.
Investor Relations Contact
China Liberal Education Holdings Limited
Email: ir@chinaliberal.com
Ascent Investor Relations LLC
Ms. Tina Xiao
Email: tina.xiao@ascent-ir.com
Tel: +1 917 609 0333
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SOURCE China Liberal Education Holdings Limited