LOS ANGELES, Oct. 28, 2020
/PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the
"Company" or "ATIF"), a company providing business consulting
and multimedia services in Asia,
today announced the Company entered into a consulting service
agreement (the "Agreement"), dated Oct 23, 2020, to
serve as a business advisor for Lendmerit
Inc.("Lendmerit"), a leading California-based financial lender providing
integrated loan services nationwide. The Agreement
was signed in anticipation of Lendmerit to enter into
the U.S. capital market.
Pursuant to the Agreement, ATIF agreed to provide Lendmerit with
services including business consulting such as business
planning and strategies development, capital market advisory for
fund raising, and investor and
public relations services. As consideration, Lendmerit agreed
to pay the Company a fixed consulting fee of US$1 million which will be paid in installments
subject to certain conditions.
Mr. Pishan Chi, Chief Executive Officer of the Company,
commented, "We are proud that we have signed service agreements
with Lendmerit, McSen Realty Corp. and Promise
Logistics Corp. respectively, within a week. We are
diversifying our services following the recent wave of Chinese
companies going public in the U.S. We look forward to seeing our
clients achieving great progress and strong growth in 2021 and
beyond, as they access to U.S. capital market, which we believe
will drive their business growth. Lendmerit has a promising future
because Lendmerit is one of the first batch of financial
institutions to start Chinese loan business, and has built up a
strong network and prestige. We are honored to serve as Lendmerit's
financial advisor to assist Lendmerit with its growth
strategies of up-listing its securities to the
U.S. exchanges."
About Lendmerit Inc.
Lendmerit Inc. was founded in April
2015 and is recognized as a California-based financial lender who holds
the financial lending license to offer simple process and fast
funding solution to qualified clients. The main business of
Lendmerit Inc. includes unsecured loans for international students,
personal credit/mortgage loans, and business emergency loans. After
five-year development, Lendmerit Inc.'s has provided solutions for
tens of thousands of residents and international students
throughout the United States. In
2018, Lendmerit Inc. launched a financial services platform Finway
to provide unsecured credit loan services, targeting
high-consumption international students with middle and high-end
backgrounds. Moreover, Lendmerit Inc. also helps international
students establish their credit history through credit loans. Up to
now, Lendmerit Inc. has provided services for over 1,000
international students.
About ATIF Holdings Limited
Headquartered in Shenzhen, China, ATIF Holdings
Limited ("ATIF") is a company providing business consulting
services to small and medium-sized enterprises in Asia,
including going public consulting services, international business
planning and consulting services, and financial media
services. ATIF operates an internet-based financial consulting
service platform IPOEX.com, which provides prestige membership
services including online capital market information, pre-IPO
education and matchmaking services between SMEs and financing
institutions. ATIF has advised several enterprises
in China in their plans to become publicly listed in
the U.S. Through its majority-owned
subsidiary, Leaping Group Co., Ltd., ATIF also
provides multimedia services and is engaged in three major
businesses, including multi-channel advertising, event planning and
execution, film and TV program production and movie theater
operations. ATIF operates the largest pre-movie
advertising network in Heilongjiang
Province and Liaoning
Province of China and also provides advertising
services in elevators and supermarkets. ATIF is often
hired to plan both online and offline advertising campaigns and to
produce related advertising material. In
addition, ATIF invests in films and TV programs and
distributes them in movie theaters or through online
platforms. ATIF is also one of majority shareholders
of AeroCentury Corp. (NYSE American: ACY) which is an
independent global aircraft operating lessor and finance company
specializing in leasing regional jet and turboprop aircraft and
related engines to airlines and commercial users
worldwide. For more information, please
visit https://ir.atifchina.com/.
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 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.
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SOURCE ATIF Holdings Limited