ATIF Holdings Limited Announces a One Million Dollar Consulting Service Agreement with Shenzhen Agrecoe Biotechnology Co., Ltd.

Shenzhen, China, June 08, 2020 (GLOBE NEWSWIRE) -- ATIF Holdings Limited (NASDAQ: 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, dated June 3, 2020 (the “Agreement”), to act as a business advisor for Shenzhen Agrecoe Biotechnology Co., Ltd. (“Agrecoe”), an emerging growth biotechnology company specializing in the research, development, production and sales of microbial inoculants in the three major fields of agriculture, environmental protection and food. The Agreement was signed in anticipation of Agrecoe’s entrance into the U.S. capital market.

Pursuant to the Agreement, ATIF Shenzhen agreed to provide services including business consulting, capital market advising for business planning and strategy development, planning and assisting with fund raising activities, and investor and public relations services. As consideration, Agrecoe agreed to pay ATIF Shenzhen a fixed consulting fee of US$1 million, to be paid in installments and subject to certain conditions.

Mr. Jun Liu, CEO and Director of ATIF, commented, “We are excited to sign the consulting service agreement with Agrecoe. Choosing to go public in the U.S. is an important move for Agrecoe to achieve a staged victory and enables Agrecoe access to capital from international investors and improve brand popularity and credibility so that Agrecoe can expand its business internationally. We will do our best to help Agrecoe go public and to provide guidance on its listing and 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 Shenzhen Agrecoe Biotechnology Co., Ltd.

Headquartered in Shenzhen, China, Shenzhen Agrecoe Biotechnology Co., Ltd. (“Agrecoe”) is an emerging growth biotechnology company specializing in the research, development, production and sales of microbial inoculants in the three major fields of agriculture, environmental protection and food. Agrecoe utilizes modern molecular biotechnology to transform, screen, and nurture a series of microbial inoculants with specific efficacy and broad use prospects. Agrecoe also utilizes its own advanced fermentation technology for large-scale production and designs and mixes products based on crop and soil characteristics. Agrecoe has a top-tier core technical team of the industry, owns nearly 30 intellectual property rights and patents, and cooperates with many educational and scientific research institutions such in China. For more information, please visit http://www.agrecoe.com/index_en.html.

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 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
Phone: 917-609-0333
Email: tina.xiao@ascent-ir.com

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• ATIF Holdings Limited