Wednesday February 9, 3:09 pm Eastern Time
Company Press Release
Cool Entertainment Announces Fully Reporting Issuer Status
BELLEVUE, Wash.--(BUSINESS WIRE)--Feb. 9, 2000--
Cool Entertainment, Inc. (OTC BB:CULEE) is pleased to announce the approval of their acceleration request to be a fully reporting issuer quoted on the NASD OTC Bulletin Board, effective February 9th, 2000. Cool Entertainment's trading symbol will be (OTC BB:CULE) effective February 10th, 2000. The company will be seeking full NASDAQ listing in the future once listing requirements have been met.
``We are very pleased with the acceptance of our fully reporting status from the SEC,' says Clement Lau, President and CEO of Cool Entertainment. ``Now that our fully reporting status is in place, we can concentrate on bringing the company to new levels.' The company's next focus is enhancing the Web site with more customization and other original content. Cool Entertainment's goal is to provide an easy-to-use and enjoyable first-class site to consumers in North America and, eventually, the rest of the world. Cool Entertainment is a comprehensive, entertainment retail Web site, which is offering over 250,000 products including CDs, DVD's, videos and video games. The Web site also contains value-added services including online games, free e-mail accounts and other entertainment.
Cool is aggressively seeking other content organizations that can partner with the company to develop a ``rich content environment' and assist in the ultimate goal of becoming an on-line entertainment destination. While the Web site is operational the company is developing strategies for MP3 digital download and is currently exploring additional distribution networks in Europe, Asia, Australia and Latin America.
In addition to IBM Canada Ltd., Cool Entertainment has other key alliances with other high profile companies such as Valley Media (Nasdaq: VMIX-news) and Muze, Inc.
Valley Media
Valley Media (Nasdaq:VMIX - news) is a recognized leader in full-line entertainment wholesale distribution, Internet retail fulfillment, independent music distribution and proprietary database products and publications. Valley Media operates facilities in seven states with primary distribution centers in Louisville, KY and Woodland, CA. The firm continues to be an industry leader and was awarded the National Association of Record Merchandisers 1998 Wholesaler of The Year Award for its sixth consecutive year.
Muze Inc.
Muze Inc. (www.muze.com), established in 1991, is an organization dedicated to enhancing enjoyment from entertainment products. Today, Muze is an undisputed market leader in providing data sources that include editorial content about music, books, and video. Muze information solutions can be found in more than 14,000 retail locations where they enhance commercial activity for leading chain and independent retailers and on over 60 on-line shopping sites where they are fuelling the interactive on-line revolution in retail entertainment.
This press release may contain forward-looking statements made pursuant to the ``safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, subscriber growth, product demand, competition, and other risks and uncertainties detailed from time to time in the Company's periodic reports.
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Contact:
Cool Entertainment, Inc.
10900 NE 8th Street, Suite 900
Bellevue, WA 98004
Corporate Office: 425/688-2997
Fax: 425/454-4383
Investor Relations: 888/603-8833 |
