China Yibai United Guarantee International Holding Inc (CBGH)

[adijas]

News out: acquisition of https://tidycall.com/

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

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.