China liberal education holdings limited enters into an agreement and plan of merger with aiways holdings limited, a global new energy vehicle brand

Beijing , nov. 3, 2022 /prnewswire/ -- china liberal education holdings limited (nasdaq: cleu) (the "company" or "china liberal"), a china-based company that provides smart campus solutions and other educational services, and aiways holdings limited ("aiways"), a global new energy vehicle brand, today announced that they have entered into an agreement and plan of merger (the "merger agreement"), pursuant to which aiways will merge with a wholly-owned subsidiary of the company, and the issued and outstanding share capital of aiways will be cancelled in exchange for newly issued shares of the company on the terms and conditions set forth therein in a transaction exempt from the registration requirements under the securities act of 1933, as amended (the "transaction"). upon consummation of the transaction, aiways will become a wholly-owned subsidiary of the company.
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