Wednesday March 22, 9:15 am Eastern Time
Company Press Release
SOURCE: Cool Entertainment Inc.
Cool Entertainment Inc. Signs European Distribution Agreement
BELLEVUE, Wash., March 22 /PRNewswire/ -- Cool Entertainment Inc., (OTC Bulletin Board: CULE - news), announced today that it has signed an agreement with MSI Music to serve as the Company's distribution partner in Europe. MSI distributes more than 300,000 titles in Europe through its Depot 31. Cool Entertainment will also use MSI's Miami warehouse to distribute imported products throughout the US.
Clement Lau, President of Cool Entertainment Inc. stated, ``This agreement establishes Cool Entertainment as an international player in online sales of music and entertainment products. We can now offer online shoppers over 100,000 international titles stocked by MSI. This is in addition to the 250,000 products, including CDs, DVDs, videos and video games, that Cool Entertainment currently offers.' Cool Entertainment has previously inked a similar agreement with Valley Media for North American distribution.
William Hadcock, VP of Marketing for Cool Entertainment, commented ``Although the U.S. market is four times that of Europe, the growth rate in Europe should be higher in the next few years. Cool Entertainment is positioned to claim a share of the $750 billion that will be spent over the Internet on entertainment products in the next two years.'
Rolf Hansen, VP of operations for MSI, stated, ``MSI and Depot 31's combined experience in drop shipping for Internet vendors CDNOW, Amazon.com and Tower Records will undoubtedly benefit Cool Entertainment.'
IBM Canada has been working closely with Cool Entertainment to provide e-commerce solutions and expertise to enhance its Web site. ``Our goal is to find and build strong relationships with these companies while they're in startup mode: they could become the next amazon.com or eBay,' said Stephanie Boisvert, business unit executive for IBM Canada's Net.Gen business unit.
ABOUT MSI MUSIC
MSI offers consumers and retailers a searchable database of more 100,000 titles. In Europe, MSI distributes through Depot 31, the first Internet fulfillment warehouse established on the European continent. Depot 31 is specifically designed to meet the demands of retailers Europe, Scandinavia, the Middle East and Northern Africa with one of the world's largest music-related databases (300,000-plus titles). Additional information on MSI Music is available at msimusic.com.
ABOUT COOL ENTERTAINMENT INC.
Cool Entertainment is a comprehensive, entertainment retail website, which will be offering a wide range of products including CDs, DVDs, videos, and video games. The website will also offer value-added services including online games, free e-mail accounts, and other entertainment. Cool Management is currently exploring additional distribution opportunities in Europe, Asia, Australia and Latin America. For further information, please visit: coolentertainment.com.
Statements about the Company's future expectations, including future revenues, earnings and transactions, as well as all other statements in the press release other than historical facts are ``forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results and other corporate developments could differ materially from that which has been anticipated in such statements.
SOURCE: Cool Entertainment Inc.
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