China Yibai United Guarantee International Holding Inc. Signs Letter of Intent to Acquire TidyCall Inc.

Rhea-AI Summary

China Yibai United Guarantee International Holding Inc. (OTC PINK:CBGH) has signed a letter of intent (LOI) to acquire TidyCall Inc., a Canadian firm offering on-demand cleaning services through its TidyCall™ App. This acquisition will result in TidyCall becoming the majority shareholder of CBGH, which will change its name to TidyCall Inc. The cleaning service industry is valued at $55.7 billion in 2020, expected to reach $111.49 billion by 2030. The acquisition aims to diversify CBGH's operations and enhance shareholder value.

Positive

• Acquisition of TidyCall Inc. diversifies CBGH's operations.
• TidyCall is well-positioned in a growing $55.7 billion cleaning service market, projected to reach $111.49 billion by 2030.
• Shareholder value is expected to increase post-acquisition.

Negative

• The acquisition is contingent on due diligence, which may introduce delays.
• Changing to a majority shareholder structure could dilute existing shareholder equity.

CHANGSHA, CHINA / ACCESSWIRE / December 16, 2021 / China Yibai United Guarantee International Holding Inc. (OTC PINK:CBGH) ("CBGH" or the "Company"), today announced that it has signed a letter of intent (LOI) to acquire TidyCall Inc., a Canadian company based in the Greater Toronto Area (GTA), offering mobile-device users on-demand cleaning services through its innovative TidyCall™ App. Under the proposed transaction, CBGH will acquire 100% of the outstanding shares of TidyCall Inc. in consideration for a controlling equity stake in CBGH. Upon finalization of this share exchange, TidyCall Inc. will be the majority shareholder of CBGH and the company name will be changed to TidyCall Inc.

The pending acquisition of TidyCallInc. is a major step forward for CBGH towards its goal of diversifying its operations into established and promising industries. With its visionary management team and proprietary technology, TidyCall Inc. is well positioned in the global Cleaning Service Industry with an estimated market value of $55.7 billion in 2020, which is projected to reach $111,49 billion by 2030, registering a CAGR of 6.5% from 2021 to 2030 (Source: Allied Market Research). CBGH Management is confident that this acquisition will add significant shareholder value to the Company.

Under the LOI, the acquisition is subject to due diligence by both parties, execution of a definitive Share Exchange Agreement, and the approvals of the respective Boards of Directors of both CBGH and TidyCall Inc. The closing is expected to be completed 30 days after the LOI is signed, unless extended by agreement of the parties. Additional information concerning TidyCall Inc., its current position and future strategic development plan will be disclosed to shareholders following the formal closure of the acquisition.

About CBGH

China Yibai United Guarantee International Holding Inc. (OTC PINK:CBGH), is a Nevada corporation listed for public trading on the OTC Pink Tier. As a holding company we, focus on business development in a variety of industries, including biotechnology & pharmaceutical products, dietary and nutritional supplements, sharing-economy app development, and the cloud/big data products and services, through our wholly-owned subsidiaries.

About TidyCall Inc.

TidyCall Inc. is a Canadian Company, based in Markham, Greater Toronto Area (GTA), which provides mobile-device users on-demand cleaning services (residential & commercial) through its proprietary TidyCall™ App. There are two versions of the TidyCall™ App available for download: TidyCall User™ - for consumers who use commercial Cleaning Services (CSUs), and TidyCall Provider - for approved* Cleaning Service Providers (CSPs).

*Individuals interested in becoming a TidyCall CSP can now apply at www.TidyCall.com

TidyCall™ is an on-demand cleaning services App., and its innovative easy-to-use interface helps CSUs and CSPs interact efficiently when requesting and/or providing cleaning services through TidyCall™. Its proprietary "Two-Way-Review/Rating System" allows TidyCall CSUs and CSPs to rate and review each other discreetly after each cleaning service, incentivizing users to act in accordance with TidyCall's™ adopted Terms and Conditions, which has resulted in higher productivity and an overall higher-quality user experience. Furthermore, TidyCall™ utilizes Geo-Fencing technology to collect the real time geographic information of its CSPs and CSUs when a service is ordered, which helps ensure the safety of all users of the TidyCall™ services.

With an increasing growth in demand for sharing economy services, TidyCall™ is following the footsteps of other highly successful companies operating as a sharing economy, such as Uber Technologies, Inc. and DoorDash, Inc. Thanks to its visionary management team and proprietary technology, TidyCall's goal is to become a major player in the hundred-billion-dollar global cleaning service industry.

For further information about TidyCall Inc, including the CSP application form, visit the company's website at www.TidyCall.com.

Forward-Looking Information:

This news release contains certain forward-looking statements, which include any statements made in this release which are not historical facts, such as statements concerning potential future developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.

Investor Relations
Millo Zeng
CEO
ir.cbgh@gmail.com
Phone#: (86)731-86886588

SOURCE: China Yibai United Guarantee International

View source version on accesswire.com:
https://www.accesswire.com/677990/China-Yibai-United-Guarantee-International-Holding-Inc-Signs-Letter-of-Intent-to-Acquire-TidyCall-Inc

FAQ

What is the acquisition value of TidyCall Inc. by CBGH?

The transaction involves a controlling equity stake in CBGH but does not specify a monetary value.

How will the acquisition of TidyCall Inc. impact CBGH?

The acquisition aims to diversify CBGH's operations and enhance shareholder value through entry into the cleaning service industry.

When is the expected closing date for the TidyCall acquisition?

The closing is expected to occur 30 days after the LOI is signed, barring any extensions.

What market opportunity does TidyCall Inc. represent?

TidyCall operates in a cleaning service market projected to grow from $55.7 billion in 2020 to $111.49 billion by 2030.

What is the future of CBGH after the acquisition?

Following the acquisition, CBGH will rebrand as TidyCall Inc., focusing on the growing on-demand cleaning service sector.