Los Angeles, California, Oct. 26, 2020 (GLOBE NEWSWIRE) -- 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 two financial consulting service agreements, dated Oct 21, 2020 and dated Oct 22, 2020 (the “Agreements”), to act as a business advisor for McSen Realty Corp.(“McSen Realty”), a leading real estate brokerage in Irvine, California and Promise Logistics Corp.(“Promise Logistics”), a large inland logistics company in City of Industry, California providing logistic services nationwide. The Agreements were signed in anticipation of both McSen Realty and Promise Logistics to enter into the U.S. capital market.
Pursuant to the Agreements, ATIF agreed to provide both McSen Realty and Promise Logistics with services including business consulting, capital market advisory for business planning and strategy development, planning and assisting with fund raising activities, and investor and public relations services. As consideration, each of McSen Realty and Promise Logistics agreed to pay the Company a fixed consulting fee of US$1 million, to be paid in installments subject to certain conditions. The two Agreements totaled to US$2 million.
Mr. Pishan Chi, the Chief Executive Officer of the Company, commented, “We are very excited that we signed the Agreements with McSen Realty and Promise Logistics, two local companies, only three months after the establishment of our U.S. headquarters. Entering into the U.S. capital market is an important milestone for McSen Realty and Promise Logistics, indicating that McSen Realty and Promise Logistics will be in position for better development prospects and growth opportunities. We expect that McSen Realty and Promise Logistics will enhance its brand awareness and credibility in the industry, accumulating trust from customers and investors. In this engagement, we will do our best to help McSen Realty and Promise Logistics go public and to provide guidance on their potential listing and further development.”
About McSen Realty Corp.
McSen Realty Corp.(“McSen Realty”) is the largest real estate brokerage in Irvine, California. McSen Realty provides commercial real estate and financial services including Commercial Real Estate, Residential Real Estate, Fund Investment, Asset Management, Escrow, Real Estate Training School. McSen's management team has many years of experience in real estate which created strong relationships with all builders. For more information, please visit: https://www.McSen Realtyrealty.com/.
About Promise Logistics Corp.
Established in 2005, Promise Logistics Corp.(“Promise Logistics”) is a large inland logistics company with its own warehouses and a large number of transportation fleets throughout the United States. Promise Logistics owns a nationwide fleet of 50 plus company-owned trucks and 60 trailers and four warehouses located in Florence KY, Norcross GA, Delaware OH and City of Industry, CA respectively in the U.S.
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/.
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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