NEW YORK, Sept. 09, 2024 (GLOBE NEWSWIRE) — Color Star Technology Co., Ltd. (Nasdaq: ADD) ("Color Star" or the "Company"), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, announces today that it has signed a non-binding framework strategic cooperation agreement with Zero2one Consultancy Ltd. (“Zero2one”), an investment company in the United Kingdom. This agreement creates a framework of planned operations and marks the commencement of the cooperation between the two parties in jointly promoting the innovative development of education, culture and sports undertakings in the United Kingdom.
Zero2one Consultancy Ltd., is an investment company located in the heart of London’s business district, providing investment consulting and management services with a deep insight into the education investment sector. Zero2one stands at the forefront of the industry, accurately grasping the market dynamics, to provide investors with efficient and professional services. The planned cooperation with Color Planet is expected to further leverage Zero2one’s strengths in the field of education investment, and jointly explore the business opportunities hidden within the UK education market.
The signing of this cooperation agreement marks the further deepening and expansion of Color Star’s investment strategy in the UK education sector. Color Star has always been committed to promoting the integration of education, sports and culture. Both parties plan to invest in cutting-edge areas such as youth football training camps and artist incubation programs, aiming to cultivate more young talents with potential and provide solid support for their growth and success.
Looking ahead, the two parties plan to set up training bases in various locations in the UK to provide the youth with richer and more diversified learning opportunities through the introduction of advanced teaching concepts and methods, combined with localized practical exploration. The establishment of these training bases will not only promote the prosperous development of the UK education market, but also inject new vitality into the development of global youth education and sports and culture.
It is worth mentioning that Color Star has long maintained close cooperative relationships with a number of internationally renowned football clubs, an advantage that lays a solid foundation for the Company to cooperate with more football stars and clubs to establish youth football training centers. By integrating industry resources and broadening its international cooperation network, Color Star will continue to promote the popularity and development of youth football around the world and contribute to the development of the next generation of football stars.
The cooperation between Color Star and Zero2one is a synergistic collaboration between the two parties in the fields of education, sports and culture. Both parties plan to work together to create a better future and write a new chapter for the development of global youth education and sports.
About Color Star Technology Co., Ltd.
Color Star Technology Co., Ltd. (Nasdaq: ADD) is an entertainment and education company that provides online entertainment performances and online music education services. Its business operations are conducted through its wholly-owned subsidiaries, Color Metaverse Pte. Ltd. and CACM Group NY, Inc. The Company’s online education is provided through its Color World music and entertainment education platform. More information about the Company can be found at www.colorstarinternational.com and www.colorstar.investorroom.com.
Forward-Looking Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development, including the development of the metaverse project; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market internationally where ADD conducts its business; reputation and brand; the impact of competition and pricing; government regulations; the occurrence of any event, change or other circumstances that could give rise to the terms of the LOI not hereafter being memorialized in a definitive agreement; the outcome of any legal proceedings that have been, or will be, instituted against Color Star or other parties to the LOI following announcement of the LOI and transactions contemplated therein; the ability of Color Star to meet NASDAQ listing standards in connection with the consummation of the transaction contemplated therein; the inability to complete the transactions contemplated by the LOI due to the failure to meet certain closing conditions; risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the announcement of the LOI and consummation of the transaction described therein; costs related to the proposed acquisition; changes in applicable laws or regulations; the ability of the combined company to meet its financial and strategic goals, due to, among other things, competition, the ability of the combined company to grow and manage growth profitability, maintain relationships with customers and retain its key employees; the possibility that the combined company may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission by Color Star. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations or rules.
For more information, please contact:
Color Star Investor Relations
Office Number No. 1003, 9th Floor,
7 World Trade Center, Suite 4621
New York NY 10007
Office: (212) 410-5186
Email ir@colorstarinternational.com
