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[QUOTE]Originally posted by Tanangel: [QB] Third and last email with very positive outlook and future growth: Livestar Entertainment Group Press Release from Loyola Financial LIVESTAR Entertainment Group Inc. Announces the Commencement of Development of Its Next Licensed Establishment With a Grand Opening Planned for This Fall by Livestar Entertainment Group VANCOUVER, BC--(MARKET WIRE)--Jul 7, 2004 -- LIVESTAR Entertainment Group Inc. ("LIVESTAR" or the "Company") (OTC BB:LSTA.OB - News) today announced that it has completed a Joint Venture Agreement to develop its next liquor licensed entertainment establishment. This establishment is located in Toronto, Ontario with the working name of Elm Street and is planned to open as early as possible this fall to begin generating revenues for LlVESTAR. Elm Street will be a new entertainment establishment located at 333 Elm Street and Yonge in the heart of the heavily trafficked and trendy downtown Yonge Street area where the financial and shopping districts meet. It has three floors and occupies over 6,000 sq ft. This venue will be developed with a new name and renovated as a plush nouveau style downtown restaurant and bar. It will cater to a diverse clientele and be open five to seven days and nights per week. The Joint Venture Agreement is between LIVESTAR and Terry Lall whereby LIVESTAR will own 51% of Elm Street. Continued discussions between the Company and Mr. Lall have produced this joint venture as result. Mr. Lall brought the Elm Street project to LIVESTAR with an exceptional pre-negotiated premises lease and chattels, which in turn provided him with a 49% equity interest in the joint venture. Terry Lall, commented: "Elm Street has been structured to be a great win-win situation for all involved. We are pleased that the ongoing discussions between my entertainment investment and development group and LIVESTAR resulted in this Joint Venture Agreement. Renovations have commenced and together we are now working to open the establishment as soon as possible. The exact opening timeline of the establishment is subject to such items as the completion of renovations and the receiving of licensing approvals from the local regulatory bodies. The successful attainment of the liquor license, which both parties are confident in securing, is the main condition precedent of the joint venture. Ray Hawkins, Founder, Chairman and CEO of LIVESTAR, commented: "We have been working diligently behind the scenes to get our business plan on a faster track. We are proud we have been able to add another establishment project to our portfolio this quickly. We believe this establishment, after becoming operational, could potentially generate revenues of approximately $2 million + annually with potential earnings of 15% post tax. We look forward to the grand opening, and anticipate being able to achieve significant developmental milestones in the coming weeks." About LIVESTAR Entertainment Group, Inc. The core business of LIVESTAR Entertainment Group, Inc. is 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 [URL=http://www.sec.gov.]www.sec.gov.[/URL] Please visit our website: [URL=http://www.LIVESTAR.net]www.LIVESTAR.net[/URL] Contact for more information E-mail: LSTA@4lfs.com Website: [URL=http://www.livestar.net]www.livestar.net[/URL] Loyola Financial Website: [URL=http://www.4lfs.com]http://www.4lfs.com[/URL] Phone: 619.209.6068 [/QB][/QUOTE]
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