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[QUOTE]Originally posted by poorman: [QB] Looking to pop this am.. Bid showing at .061 ask at .0615 Jan 13, 2005 7:46:00 AM LAS VEGAS, NV, Jan. 13, 2005 (MARKET WIRE via COMTEX) -- LIVESTAR Entertainment Group, Inc. ("LIVESTAR" or the "Company") (OTC BB: LVSG) today proudly announced that it has signed a Binding Letter of Intent to acquire the majority (60%) of Miami, Florida-based Promostaffing.com, LLC ("Promo Staffing") a revenue generating promotional marketing company with clients such as Chrysler, AT&T, PepsiCo, Campbell's Soup, Wal-Mart, Malibu Rum and Coca Cola. Promo Staffing (www.promobusiness.com) is growing quickly and with the support it will receive from LIVESTAR, it plans on becoming one of the top promotional marketing agencies in North America. Furthermore, Promo Staffing has a service offering second to none in the industry. From its Promo Staffing services to its Promo Urban and Promo Sponsorship services, this organization is poised to be very successful in terms of the caliber and size of its upcoming clients and its growing income statement. Ray Hawkins, CEO of LIVESTAR, commented, "Promotional marketing is the fastest growing sector of the advertising and marketing industry. We are very pleased with the growth potential of Promo Staffing and the business opportunity this presents for us. This exciting acquisition is synergistic and complimentary with the planned holdings of LIVESTAR. The Company is moving quickly to close this acquisition within the coming weeks. Our efforts to close this acquisition in short order will prove to our shareholders our commitment to our new holding company strategy and to building shareholder value". Cory Sklar, President & CEO of Promo Staffing, stated: "With the growth support we will receive from LIVESTAR upon closing, we are confident we can become a major player in the industry over the years to come. Our client base is strong and will become stronger upon achieving certain milestones. We are excited about our future with LIVESTAR and our shareholders and LIVESTAR'S shareholders should be too." The acquisition, which is subject to due diligence and final negotiations, is planned to be accounted for as a stock purchase. However, other terms of the acquisition will not be announced until the acquisition has been finalized. Mr. Hawkins also added: "This pending acquisition is well underway towards closing. We have previously mentioned our plans to have a big year for the Company and Promo Staffing is planned to be a key part of that. Shareholders should be pleased with the corporate changes we have made and the developments that are in progress and we look forward to the announcement of other business items as they are executed." ABOUT LIVESTAR ENTERTAINMENT GROUP, INC. LIVESTAR is in the process of transitioning to a holding company structure. The core business of LIVESTAR Entertainment Group, Inc. is currently the development of entertainment entities, specifically Liquor-Licensed Entertainment Establishments (namely nightclubs and lounges) and Live Entertainment (concerts and special events). Statements contained herein that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. LIVESTAR Entertainment Group, Inc. intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause LIVESTAR Entertainment Group, Inc.'s actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in LIVESTAR Entertainment Group, Inc.'s applicable public filings on record with the Securities and Exchange Commission which can be viewed at its website at http://www.sec.gov. Please visit our website: [URL=http://www.LIVESTAR.net.]www.LIVESTAR.net.[/URL] For more information please contact: LiveStar Entertainment Shareholder Services Phone: 1.800.963.6532 Email Address: livestar@4lfs.com SOURCE: LIVESTAR Entertainment Group, Inc. Copyright 2005 Market Wire, All rights reserved. [/QB][/QUOTE]
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