Shenzhen, China, June 11, 2020 (GLOBE NEWSWIRE) -- ATIF Holdings Limited (ATIF), a company providing business consulting services and multimedia services in Asia, today announced that the Company, through Qianhai Asia Time (Shenzhen) International Financial Services Co., Ltd. (“ATIF Shenzhen”), the Company’s variable interest entity in China, entered into a consulting service agreement (the “Agreement”), dated June 9, 2020, to act as a financial advisor for Yinfu Gold Corporation (ELRE), an emerging growth company specializing in new-emerging application industries of Internet Technology, Artificial Intelligence (AI) and the Internet of Things (IOT). The Agreement was signed in anticipation of ELRE’s uplisting to Nasdaq or New York Stock Exchange.
Pursuant to the Agreement, ATIF Shenzhen agreed to provide consulting services including but not limited to equity ownership verification, equity restructuring, asset and business model optimization to help ELRE to be listed Nasdaq or New York Stock Exchange. As consideration, ELRE agreed to pay ATIF Shenzhen a fixed consulting fee of US$800,000, to be paid in installments and subject to certain conditions.
Mr. Jun Liu, CEO and Director of ATIF, commented, “We are proud to have respectively signed service agreement with Yinfu Gold Corporation and Shenzhen Agrecoe Biotechnology Co., Ltd within a week. ATIF's services have become more diversified 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 2020 and beyond, as increased access to U.S. capital market drives the momentum.”
Mr. Liu continued, “ELRE has a promising future because the market of emerging application industries of Internet Technology, AI and the IOT has tremendous upside potential. We are honored to act as ELRE’s financial advisor to assist ELRE in articulating its growth strategy to the investment community and uplist its securities to U.S. National Exchange. Successful uplisting will enhance ELRE’s visibility in the marketplace, increase the liquidity of its stocks, and build long-term shareholder value. We will do our best to provide guidance on ELRE’s listing and business development.”
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 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 produce related advertising materials. In addition, ATIF invests in films and TV programs and distributes them in movie theaters or through online platforms. For more information, please visit https://ir.atifchina.com/.
About Yinfu Gold Corporation
Yinfu Gold Corporation (ELRE) was incorporated in the State of Wyoming, USA in 2005. Currently ELRE steps into new-emerging application industries of Internet Technology, Artificial Intelligence (AI) and the Internet of Things (IOT). ELRE comprehensively carried out strategic investment business by means of capital operation, adopted the investment methods such as assets restructuring, equity replacement and M&A and even developed collaboratively with combing the advantages of these application industries. ELRE is making endeavors to build Flagship Brands in the industries of Internet Technology, application of the IOT and AI in China. For more information, please visit www.uselre.com/English/index.aspx.
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 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:
Ascent Investor Relations LLC
Tina Xiao, President