MONTREAL, Aug. 25, 2005 (PRIMEZONE) -- Grand Entertainment & Music Inc. (Pink Sheets:GENM) announced today that the company has entered into an exclusive agreement with Mango Music World. This agreement entitles Gem to 100% administrative rights for both the entire current Mango music catalogue, as well as rights to all future signed artists, catalogues and touring.
Mango Music is a Canadian-based music company that holds the publishing and distribution rights to an impressive list of Cuban and Latin American and World music acts including Orquesta Charanga de Oro (with former members of Buenavista Social Club, Afrocuban All Stars, Orquesta Arragon and Orquesta Sinfonica Nacional), Orquesta Sensaction, and Orquesta Clave y Guaguanco. The company is also in final stages of negotiations to obtain additional catalogues with thousands of titles. Mango music currently markets its catalogue throughout the world including Canada, the United States, Mexico, and Europe.
"I can not stress enough the importance of this agreement and what it means to the future catalogue and revenue growth of our company," stated Raul Cuza, Executive Vice president of Gem-Latina. "Mango Music World has such an impressive list of current artists that we will immediately be able to capitalize on our distribution networks to fully export these titles to the widest audience possible. I am very confident that we will add many more artists to Mango's current catalogue, and look forward to sharing this information with the investing public as these new relationships develop."
Grand Entertainment & Music Inc. also announced the release of an upcoming shareholder letter from the CEO. This letter is tentatively set to be released Tuesday, August 30th. Fred Berlin, President and CEO, stated, "I look forward to sharing my thoughts on upcoming officer and director appointments, current status of all projects, and our overall future growth plans with our loyal shareholder base. I believe that active communication like our weekly newsletters, press releases, and shareholder letters are an intricate part of the future success of our company."
All interested individuals should sign up to receive Tuesday's letter at www.Genm-Info.com.
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.