MONTREAL, Sept. 2, 2005 (PRIMEZONE) -- Grand Entertainment & Music Inc. (Pink Sheets:GENM) announced today the development of the "Gem Music Relief Fund." Gem has agreed to designate a percentage of future sales to help the victims of Hurricane Katrina. Gem may also pursue the idea of a benefit concert that will feature a host of Gem, Gem-Latina, and Mango Music World signed artists. All plans are in the preliminary stages and further developments will be announced at a later date. The company is also soliciting other music, entertainment, and publicly traded companies to help in all fund raising efforts.
Fred Berlin, CEO of Grand Entertainment & Music Inc., stated, "We are amazed by the amount of devastation in that region of the U.S., and our hearts and prayers go out to all the victims of Katrina. We, like all individuals, want to do everything in our power to help those affected and we will begin setting up the necessary framework to receive donations on our Web site. Even though these plans are in the preliminary stages, we wanted to let everyone know that we here at Grand Entertainment & Music are committed to making a difference in the world and not just in the entertainment industry. We encourage all shareholders to pull together in this time of need and donate anything they can. No donation is too small. I thank you in advance for your generosity." Mr. Berlin went on to say, "Even though Gem will not be administrating the funds directly, we will keep a running total of donations on our Web site and will provide details about where and when all money is being allocated. Through our network of affiliates, we have are already begun assembling other partners to help in this campaign. We have begun talks with various oil and gas companies to donate up to $1 barrel of future production. We have also requested help from local small businesses such as salons to give $1 per haircut to all efforts. Although this may seem like a small gesture, we believe that every little bit will truly make a difference in these challenging times."
The "Gem Music Relief Fund" will send the donations directly to the people in need. The company would like this money to be used to repair roofs, interiors, and any other structural damage for un-insured individuals, as well as to provide food and shelter to the thousands who are homeless during the rebuilding period. Gem is also pursuing relationships with major charity organizations. More details will be released next week once the specific legalities are determined. Once the fund is established by a third-party administrator, it will be announced through a press release and through the company's weekly newsletters and Web site.
The company would also like to announce a correction from the CEO letter and the most recent press release. In the section concerning Convoy Cubano, Makina Loca was mistakenly referred to as a "chart-topping single." This section should have stated, "Jesus (El-Nino) Perez has an impressive background that includes the arrangement of movies such as "Dance with Me" and the production of chart-topping singles such as the number one hit "Mambo Yo Yo" from the popular music group Ricardo Lemvo and Makina Loco."
Based in Montreal, Quebec, 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, on 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.