ORLANDO, Fla., Feb. 10, 2004 (PRIMEZONE) -- EMAXNET, Inc., a Florida corporation (EMAXNET) partly owned by eMax Corporation (Pink Sheets:EMAX) today announced the execution of the binding Purchase Agreement for the key assets of MarketBeasts.com LLC, a privately held Florida Limited Liability Company, contemplated in the Letter of Intent previously announced January 27th. Under the terms of the purchase agreement, EMAXNET has acquired the rights to key intellectual properties and assets of MarketBeasts.com for $1,250,000 in EMAXNET stock at a strike price of $1.70 per share. EMAXNET has appointed Scott Piel as President of its newly formed division, eMax Software Group, to develop network infrastructure, digital content delivery, software applications and product lines to be announced in the near future.
About EMAXNET
EMAXNET is building a worldwide digital and broadcast multimedia conglomerate through mergers and acquisitions to launch a twenty-four hour broadcast network showcasing all family valued entertainment and licensing programming to satellite and cable broadcast networks directly competing with the major networks. EMAXNET recently entered an agreement to acquire sixteen television stations throughout the U.S., is developing an alliance with IDVDBOX, Inc. to market the i2DVD player and expects to open a full media production and post-production facility in Florida. The company also plans to utilize these channels to license, market and/or distribute music and video offerings with more than 9,500 titles from eMax Music's licensed catalog of original songs recorded and released by many legendary artists. The company is comprised of four technology driven divisions (eMax Music, eMax Studios, eMax TV Group and eMax Software Group) dedicated to the redefinition of the artists' role in the entertainment industry through cooperative acquisition, development, publication, distribution and broadcast of quality audio and video entertainment.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the future press releases of EMAX.