BEIJING, June 24, 2020 /PRNewswire/ -- Color Star
Technology Co., Ltd. (Nasdaq CM: HHT) (the "Company", "we" or
"HHT"), a company engaged in the business of providing education
services, today announced that its wholly owned subsidiary, Color
China Entertainment Limited ("Color China") has signed a strategic
agreement with Mixx Lifestyle Inc., USA in a collaboration to set up the Company's
first offline learning site and live music venue in New York, which serves Color Star's strategy
to establish an online and offline education network with live
music programs.
Color China is aiming to offer
both online and offline education services. The agreement with Mixx
allows both parties to collaborate in building a first-tier live
music venue located at 135 West 41st Street, New York City, New
York, United States, which
will also serve as an offline training base. In particular, Color
China will be providing all necessary performance equipment to
support the collaborated effort.
Due to the ongoing epidemic, online education has become the
dominant way of learning. We have been focusing on the final
testing of our Color World platform which is expected to offer an
unique online education and entertainment experience. In
anticipation of reopening in many states and countries, we also
started to make preparations in advance for our offline services in
the post-epidemic era. In collaboration with Mixx Style, we expect
to set up our first offline education site and live music venue in
New York City since it is a hub
for many celebrities, artists and entertainment professionals. We
plan to invite many renowned artists and celebrities to teach
lessons live at our New York
learning site post-epidemic, as well as to record their lessons for
our online education platform. Meanwhile, we plan to offer students
the opportunities to come into the learning site to enjoy face to
face interactions with renowned artist teachers.
In preparation for our strategic post-epidemic plan, we plan to
launch several offline learning sites gradually, including
locations in Europe, Southeast Asia and China, starting from the second half of 2020.
We have been in contact with many local companies in discussion of
setting up respective local learning sites, with 151 West
41st Street in New York
being the first one.
Currently the New York site is
under full construction and is planned to be opened around the end
of 2020 assuming New York City
stays on track with its reopening schedule. If the epidemic is
under full control by the end of the year, this site will be used
as a learning site for in-person lessons during the day and a live
music venue for both artists and students during the night.
"We hope that in the near future, Color Star will become a
pioneer in providing celebrity-taught education services that can
be accessible both online and offline, providing students with
customized content and enjoyable learning experiences,"
Sean Liu, CEO of Color Star
Technology commented, "our collaboration with Mixx Lifestyle marks
a significant step in executing our offline expansion plan."
About Color Star Technology Co., Ltd.
Color Star Technology, is a holding company whose primary
business is offering both online and offline innovative education
services. Its business operations are conducted through its
wholly-owned subsidiaries Color China Entertainment Ltd., CACM
Group NY, Inc., Sunway Kids International Education Group Ltd.
("Sunway Kids"), Brave Millennium Limited, Chengdu Hengshanghui
Intelligent Technology Co., Ltd. and its variable interest entity,
Chengdu Hengshanghui Education Consulting Co., Ltd. Sunway Kids
engages in the early childhood education service business,
providing a well-structured system to day cares and preschools
in China, including AI and robotic technologies, intellectual
campus administration software as a service (SaaS) system and
personalized education planning. The Company also anticipates
providing an after-school tutoring program in New
York via its joint venture entity Baytao LLC, and providing
online music education via a platform branded "Color World."
About Mixx Lifestyle Inc.,
USA
Mixx Lifestyle operates three charter party boats docked at the
East River and 34th Street, two locally owned craft beer and
gourmet food stores called Milk & Hops located in the Upper
East Side and Chelsea, and two Astoria
Bier & Cheese stores in Astoria, hosting hundreds of events in
New York City each year. Mixx
Lifestyle has signed a lease for 10,000 square feet at Tribeca
Associates' 135 W. 41st St. Mixx Lifestyle's new venue - Club
Nebula will stand behind a pair of arched, church-like wooden front
doors. It's scheduled to open in September
2020.
Forward-Looking Statements
Certain statements made herein are "forward-looking statements"
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"anticipate", "believe", "expect", "estimate", "plan", "outlook",
and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. Such forward-looking statements include the
business plans, objectives, expectations and intentions of the
parties following the completion of the acquisition, and HHT's
estimated and future results of operations, business strategies,
competitive position, industry environment and potential growth
opportunities. These forward-looking statements reflect the current
analysis of existing information and are subject to various risks
and uncertainties. As a result, caution must be exercised in
relying on forward-looking statements. Due to known and unknown
risks, our actual results may differ materially from our
expectations or projections. All forward-looking statements
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these factors. Other than
as required under the securities laws, the Company does not assume
a duty to update these forward-looking statements.
The following factors, among others, could cause actual results
to differ materially from those described in these forward-looking
statements: there is uncertainty about the spread of the COVID-19
virus and the impact it will have on HHT's operations, the demand
for the HHT's products and services, global supply chains and
economic activity in general. These and other risks and
uncertainties are detailed in the other public filings with the
Securities and Exchange Commission (the "SEC") by HHT.
Additional information concerning these and other factors that
may impact our expectations and projections will be found in our
periodic filings with the SEC, including our Annual Report on Form
20-F for the fiscal year ended June 30, 2019. HHT's SEC
filings are available publicly on the SEC's website
at www.sec.gov. HHT disclaims any obligation to update the
forward-looking statements, whether as a result of new information,
future events or otherwise.
Color Star Technology Co., Ltd.
Contact: Investor Relations
Cassie Zhang
ir@colorstarinternational.com
929-317-2699
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