roduce a Number of Large Music Festivals Over the 4th Quarter and
Into 2005LAS VEGAS, NV -- (MARKET WIRE) -- 09/22/04 -- LIVESTAR Entertainment
Group, Inc. ("LIVESTAR" or the "Company") (OTC BB: LSTE) is pleased to
announce that it has signed a Joint Venture Agreement with Coolworld
Entertainment (www.coolworld.com) and its founder Sason Parry to
develop and produce a number of large music festivals over the 4th
quarter and into 2005. With this agreement now complete, LIVESTAR
plans to commence the development of this joint venture to launch the
new business line of music festivals and to generate revenues as
quickly as possible.
Sason Parry has been involved in the music industry for over 15
years, producing, performing and staging massive music festivals
nationally. Mr. Parry has produced some of the most critically
acclaimed and biggest dance & music festivals in the U.S. Sason Parry
is credited with helping to pioneer the electronic music market in
the U.S., and his creative visions and production talents have been
credited to the success of several major entertainment projects,
including The Ultra Music Festival, Cyberfest Music Festival,
"Groove" (the movie), many record labels, management companies and
more.
Ray Hawkins, CEO of LIVESTAR, commented: "Coming off the 2004 World
Music Awards and into the music festival business continues our
execution of big business development moves for the Company. Most
music festivals in the U.S. average 20,000 attendees, with ticket
prices ranging between $25.00 and $70.00/day. Coolworld's festivals
have traditionally achieved numbers of that level, with also having a
great profitability track record. If our joint venture festivals
produce that level of revenue with healthy profit margins, we will be
very pleased."
Coolworld, founded in 1990, is America's premier music festival
organization and to date has grown to be one of the most recognized
brands in the music & event industry. Coolworld has achieved great
success in exposing new music culture, cutting-edge technology and
the festival concept to the masses. Over the past decade, Coolworld
has produced a multitude of dance & music festivals across North
America drawing from 3,000 to as many as 45,000 attendees. Coolworld's
knowledge of producing events that are safe, well-organized and, at
the same time, cutting edge, has provided them with the unique
ability to bring music and its vibrant subculture to the U.S. market.
Coolworld has produced and been in involved in Cyberfest, Ultra Music
Festival, Planet New Year, Together As One Festival, Goliath
Festival, Monster Massive Festival, Spring Festival, World Groove
Festival and many other national festivals. Coolworld has also been
involved in putting out CDs and merchandise, including selling a
combined total of over 50,000 copies of the Cyberfest Music Festival
CD series.
With the joint venture agreement finalized, LIVESTAR and Coolworld
will start immediately focusing on the first of many events to come.
The agreement provides LIVESTAR with a 51% equity stake in the joint
venture for its commitment to play a lead role in the production of
these festivals with Coolworld.
The long-term revenue potential of this partnership is outstanding.
With a growing segment of LIVESTAR's target market attending
festivals, this is a perfect fit for the Company. The potential
revenue streams from ticket sales, merchandise and sponsorship are
exciting for the Company. The long-term revenue and profit potential
from this business relationship is immense.
Jay Sinclair, head of LIVESTAR's Canadian unit and VP of LIVESTAR
Events International, commented, "This is an extremely exciting
partnership for LIVESTAR's entry and growth in the music festival
market. Coolworld is a strong company in the market of music
festivals and brings successful business models and a strong track
record to the partnership. We look forward to announcing the first of
many festivals in the very near future."
Mr. Parry, founder and President of Coolworld, stated, "Coolworld is
extremely happy with this partnership and is looking forward to
working with the LIVESTAR team to build solid annual festivals that
will bring revenue and profit to both Coolworld and LIVESTAR in the
years to come. We can only hope that the LIVESTAR shareholders are as
excited as the events teams are."
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 http://www.sec.gov.
Please visit our website: www.LIVESTAR.net.
For more information, please contact:
Loyola Financial Shareholder Communications http://www.loyolafinancial.com
investors@LIVESTAR.net
Phone: 619-209-6068
------------------
Whoever is first in the field and awaits
the coming of the enemy, will be fresh for the fight; whoever is
second in the field and has to hasten to battle will arrive
exhausted.
- Sun Tzu
Dog
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
