NEW YORK, Sept. 23, 2020 /PRNewswire/ — Color Star Technological innovation Co., Ltd. (Nasdaq CM: HHT) (the “Enterprise”, “we” or “HHT”), a corporation engaged in the businesses of delivering on-line and offline expertise-paid solutions for audio and leisure industries globally, today introduced that it, by way of its wholly owned subsidiary, Shade China Enjoyment Co., Ltd., entered into a memorandum of being familiar with (the “MOU”) on September 21, 2020 with FENT Co. Ltd. (“FENT”), a South Korean K-pop enjoyment and artist company support company, to obtain 100 % fairness desire in FENT (the “Proposed Transaction”).
FENT, also recognised as Fascino Entertainment, is a South Korean-based reside amusement organization that engages in: i) talent development and management in the music, film and fashion industries ii) are living concerts and activities iii) audio and online video creation, distribution, and licensing iv) general public relations, media outreach and model management. FENT also sells cosmetics (e.g., lipsticks) and trend items by its on line channels. Fanatics, a extremely preferred K-pop team with fans and followers in South Korea, Brazil, Argentina, Mexico, and Indonesia, is represented by FENT.
The two events agree to negotiate in superior faith with no broker, agent or other middleman currently being associated, and intend to finalize a definitive agreement by the end of the calendar year. The entry into a definitive agreement for the Proposed Transaction is issue to the satisfactory results of a because of diligence procedure and board authorization and acceptable shareholder approval, if needed, by HHT.
Luke Lu, Chairman and Main Executive Officer of HHT, commented, “The Proposed Transaction to receive FENT provides HHT a exceptional chance to leap into the are living enjoyment and artist company company industry wherever we think incredible options exist, and to extend our geographic footprint into the South Korea market place. This comes at a time when K-pop is gaining expanding popularity internationally. We are excited about the prospect and looking forward to performing with the FENT staff to finalize the transaction immediately.”
About Colour Star Technology
Color Star Technologies Co, Ltd. (Nasdaq CM: HHT) provides online and offline knowledge-paid companies for songs and entertainment industries globally. Its business enterprise operations are performed via its wholly-owned subsidiaries Shade China Leisure Ltd. and CACM Team NY, Inc. The Firm’s online instruction is furnished as a result of its Colour World audio and enjoyment education system. The Firm also delivers following-university leisure tutoring in New York via its joint undertaking entity Baytao LLC. More information and facts about the Company can be discovered at www.colorstarinternational.com.
This push release has ahead-looking statements as outlined by the Private Securities Litigation Reform Act of 1995. Forward-searching statements incorporate statements regarding ideas, targets, targets, approaches, long run functions or performance, and underlying assumptions and other statements that are other than statements of historic specifics. When the Corporation makes use of text these as “may,” “will,” “intend,” “need to,” “feel,” “assume,” “foresee,” “job,” “estimate” or comparable expressions that do not relate only to historical matters, it is generating ahead-seeking statements. Specially, the Company’s statements regarding the proposed acquisition of FENT are ahead-hunting statements. Forward-searching statements are not promise of potential functionality and entail hazards and uncertainties that may well trigger the true results to differ materially from the Company’s anticipations mentioned in the forward-searching statements. These statements are issue to uncertainties and challenges which include, but not limited to, the subsequent: the Company’s goals and methods the Company’s upcoming enterprise growth item and assistance need and acceptance variations in technology financial problems the growth of the academic and schooling expert services marketplace in China and other international locations where HHT conducts its enterprise standing and brand name the influence of competitiveness and pricing government regulations fluctuations in typical economic and business problems and assumptions fundamental or linked to any of the foregoing and other threats contained in studies submitted by the Company with the Securities and Exchange Commission. For these explanations, amongst others, buyers are cautioned not to put undue reliance on any forward-wanting statements in this press release. Extra aspects are talked about in the Company’s filings with the U.S. Securities and Exchange Commission, which are offered for overview at www.sec.gov. The Firm undertakes no obligation to publicly revise these forward–looking statements to replicate gatherings or situation that crop up soon after the date hereof.
For far more information and facts, you should get hold of:
Tony Tian, CFA
Electronic mail: [email protected]
Source Colour Star Technological know-how Co., Ltd.