ATIF Announces A US$2 Million Joint Venture to Form ATIF Southern US LLC

Rhea-AI Summary

ATIF Holdings Limited (Nasdaq: ATIF) announced a Business Partnership Agreement on September 26, 2022, with David Shan to establish ATIF Southern US LLC in Texas, backed by a joint capital of US$2 million. ATIF will hold 60% of the partnership, offering premium IPO advisory services throughout the southern United States. This initiative aims to assist local companies in accessing major U.S. capital markets, enhancing ATIF's role in IPO consulting for SMEs. CEO Jun Liu expressed optimism about the partnership's potential for growth and returns.

Positive

• Joint venture with David Shan to establish ATIF Southern US LLC.
• Investment of US$2 million to support IPO advisory services.
• Expansion of services into the southern U.S., targeting local SMEs for IPOs.

Negative

• None.

Businesses of ATIF Southern US LLC Would Cover Southern United States

IRVINE, California, Oct. 3, 2022 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF) (the "Company," or "ATIF"), a holding company providing business and financial consulting services in Asia and North America, is pleased to announce that the Company has signed Business Partnership Agreement (the "Agreement") with David Shan on September 26, 2022 to jointly fund a total of US$2 million to establish ATIF Southern US LLC ("ATIF Southern") in Texas to cover the entire southern region of U.S. with ATIF's premium IPO advisory service.

Pursuant to the Agreement, the two parties jointly contributed a total of US$2 million, with 60% of the shares held by ATIF and 40% by David Shan. ATIF Southern will serve as a business branch of ATIF, based in Texas, and extend the Company's best-in-class IPO advisory services to outstanding local companies throughout the southern United States. Both parities will jointly select qualified companies for IPOs  and the joint capitalization of US$2 million for operating and investment capital will provide financial support for a successful IPO in major capital markets of U.S.

Headquartered in Los Angeles, ATIF is dedicated to providing one-stop solutions for IPO advisory services for SMEs in the United States. With a professional service team, rich experience in IPO consulting and operations and resources of numerous partner institutions, ATIF has strong ability in guiding outstanding SMEs to the U.S. capital market and providing them with quality financial support through equity financing, fully assisting them to enter the capital market.

Jun Liu, President, Chairman of the Board, and CEO of ATIF, commented, "We are very excited to launch this new branch of ATIF. David is a investor with proven records and we aims to maximize the benefits through our partnership by leveraging the strengths of each side. The southern U.S. is a land of great potential, and we hope to bring our services to quality companies there as well as be a financial boost to them. We are confident that our services will definitely smooth the way for companies to go public and that we, also as investors, are able to gain high returns."

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

FAQ

What is ATIF Southern US LLC?

ATIF Southern US LLC is a new business branch established by ATIF Holdings Limited to provide IPO advisory services in the southern United States.

When was the partnership agreement between ATIF and David Shan signed?

The partnership agreement was signed on September 26, 2022.

How much capital has been invested in ATIF Southern US LLC?

A total of US$2 million has been invested to establish ATIF Southern US LLC.

What percentage of ATIF Southern US LLC does ATIF hold?

ATIF holds 60% of the shares in ATIF Southern US LLC.

What services will ATIF Southern provide?

ATIF Southern will offer premium IPO advisory services to local companies in the southern United States.