China Liberal Education Holdings Limited Receives Notification from Nasdaq Regarding Minimum Bid Price Insufficiency

BEIJING, July 19, 2022 /PRNewswire/ — China Liberal Education Holdings Limited (Nasdaq: CLEU) (“China Liberal”, the “Company” or “we”), a China-based company that provides smart campus solutions and other educational services, today announced that the Company has received written notification (the “Notification Letter”) from Nasdaq Stock Market LLC (“Nasdaq”) on July 15, 2022advising the Company that it is not in compliance with the minimum offering price requirement set forth in the Nasdaq Listing Rules for continued listing on the Nasdaq.

Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq listing rule 5810(c)(3)(A) provides that there is a failure to meet the minimum bid price requirement if the failure continues for a period of 30 business days consecutive. Based on the closing bid price of the common shares of the Company for the 30 consecutive business days from June 1, 2022 at July 14, 2022the Company no longer meets the minimum bid price requirement.

The notification letter does not affect the company’s listing on the Nasdaq Capital Market at this time. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until January 11, 2023, to regain compliance with Nasdaq Listing Rule 5550(a)(2) . To regain compliance, the Company’s common stock must have a closing bid price of at least $1.00 for at least 10 consecutive business days. In the event that the Company does not regain compliance by January 11, 2023, the Company may be eligible for additional time to regain compliance or may be subject to debarment.

The business activities of the Company are not affected by the receipt of the notification letter. The Company intends to monitor the closing bid price of its Common Shares and may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse stock split of its outstanding common stock, to restore compliance with the minimum offering price requirement under Nasdaq listing rules.

About China Liberal Education Holdings Limited

China Liberal, headquartered in Beijing, is an education service provider in China. It provides a wide range of services, including those under jointly run Sino-foreign university programs; study abroad advisory services; technology consulting services for Chinese universities to improve their campus information and data management system and optimize their teaching, operating and management environment, creating a “smart campus”; and job readiness training tailored to graduate students. For more information, please visit the company’s website at ir.chinaliberal.com.

Forward-looking statements

This document contains forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s expectations and projections regarding future events, which the Company derives from information currently available to it. These forward-looking statements relate to future events or our future performance, including: our ability to successfully integrate the newly acquired business; our financial performance and projections; our revenue and earnings growth; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use words such as “may”, “should”, “expect”, “anticipate”, “intend”, “estimate “, “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes,” or the negative form of these or other similar terms. In evaluating these forward-looking statements, you You must consider a variety of factors, including: our ability to change the direction of the Company; our ability to keep pace with new technologies and changing market needs; and the competitive environment in which our business operates. others may cause our actual results to differ materially from any forward-looking statements. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives ants may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. The Company undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as 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 prove to be correct, and the Company cautions investors that actual results may differ materially from anticipated results and encourages investors to discuss the risk factors that could affect its future results in the Company’s registration statement and other filings with the United States Securities and Exchange Commission.

Investor Relations

China Liberal Education Holdings Limited
Email: [email protected]

Ascent Investor Relations LLC
Ms. Tina Xiao
Email: [email protected]
Tel: +1 917 609 0333

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SOURCE China Liberal Education Holdings Limited

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