MONTREAL, Aug. 16, 2005 (PRIMEZONE) -- Grand Entertainment & Music Inc. (Pink Sheets:GENM) announced today that the company's music division has broadened their joint venture with Plein Sud Inc. and Universal Music France.
Grand Entertainment & Music (GEM) Inc. and Plein Sud have jointly signed the entire album from Latin artist QBANITO Alvarez to Universal Music France, a division of Universal Music Group (UMG), the largest music seller in the world. This development comes only one week after the signing of QBANITO's first single "Maria" to Universal.
Fred Berlin, Gem's President and CEO, stated, "The company could not be more excited about this announcement. The signing of the single 'Maria' last week was an enormous development for the company, and having the entire album picked up will not only solidify QBANITO as an artist, but also Gem-Latina as a viable record label. While we were confident that the album would eventually be signed, we were pleasantly surprised by the quick decision on the part of Universal Music France. This only serves to build our confidence in the album's potential to be a huge commercial success." Berlin went on to say, "This signing, along with our many other current projects, makes us very enthusiastic about the future weeks ahead. We believe that the fourth quarter of 2005 will be the most productive quarter in our company's history in regards to contracts signed and deals developed."
The French version of QBANITO's album, which is not yet titled, is being recorded at Gem's production facilities, Cherry Productions Studios, by famed French producer Vincent Egret and will be delivered by September 30th 2005.
About Grand Entertainment & Music, Inc.
Based in Montreal, PQ, and incorporated in November 1998, the Company is an independent music company that produces, promotes, markets and controls the copyrights on music recordings in multiple formats. Additionally, the Company's multi-million dollar studios produce voice-overs and sound tracks for commercials and film, which are used on the radio, television and in theatres. Cherry Studios has produced thousands of records in its studios and has to its credit a total of 23 gold and platinum records. GEM, a pioneer in the Internet distribution and digital download field, currently owns and controls all its content and distribution rights. Having both content and distribution rights will enable the company to fulfill its mission of becoming a leading consolidator of quality music catalogues as well as a premier production, recording, publishing and Internet distribution company in the music industry.
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of Grand Entertainment & Music (GEM) Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.