CLEU - China Liberal Education enters LOI to acquire Wanzhong Education Investment

China Liberal Education Holdings ([[CLEU]]) entered into a non-binding LOI to acquire Wanzhong Education Investment Management with WEIM's sole shareholder on Dec. 28, 2020.The Company agrees to acquire 100% of the shares of WEIM from its sole shareholder, to be paid in cash and ordinary shares of the Company.With more than 4,000 students currently enrolled, these two colleges generate annual revenue of about RMB 100M (~$15.3M) in the aggregate."Through these efforts, we expect to enroll 6,000 to 7,000 students in the next two to three years and generate RMB 150M to 180M (~$23-$28M) of income from tuition and other service fees." said Ms. Ngai Ngai Lam, Chairwoman and CEO of China Liberal.

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China Liberal Education enters LOI to acquire Wanzhong Education Investment