SOURCE: Artfest International, Inc.

December 30, 2009 10:47 ET

Artfest International, Inc. Set to Continue Its Aggressive Acquisition Strategy in 2010

DALLAS, TX--(Marketwire - December 30, 2009) - Artfest International, Inc. (OTCBB: ARTS) is pleased to announce that the Company has completed a successful 2009 by increasing their assets to an estimated $8 million which positions the Company to increase earnings per share and qualify for a future listing to the AMEX or NASDAQ exchanges. The Company has accomplished this growth in assets through the acquisition of companies, such as Luxor International, Inc. in which it obtained 100% of the assets for $5,000,000. The assets that were acquired included approximately 750 works of art expected to be appraised between $9 million to $12 million.

In 2010 Artfest International plans to continue its aggressive acquisition strategy and is currently conducting due diligence on several targeted acquisition candidates within its industry including art, memorabilia, framing and printing companies which the Company will integrate to support its business model. Artfest International expects that it will complete several more acquisitions in 2010 with a goal of adding an additional $10 million in assets to the balance sheet. Artfest International's subsidiary Charity Sports Distributor is working on consummating agreements with dozens of additional college and professional sport teams to become the official distributor of their sports memorabilia. The Company's goals are to sign an additional 50 teams in 2010 and to become the industry leader in the multibillion-dollar sports memorabilia industry.

"We are excited about the progress that Artfest International has made in 2009 and we look forward to continuing the growth of shareholder value through increasing our assets with acquisitions, as well as increasing our sales revenues," stated Edward Vakser, CEO of Artfest International, Inc.

Artfest International, Inc. will hold its weekly "Creating Wealth with Network Marketing Seminars" on a weekly schedule starting January 4th 2010, in its Dallas, TX headquarters the meetings schedule will be posted on the Artfest website and all shareholders and members are encouraged to attend. Call (877-278-6672) for more information.

For more details on Artfest International's accomplishments in 2009, expectations for 2010 and to read the Company's "President's Letter" please visit: www.artfestinternational.com

About Artfest International, Inc.

Artfest International, Inc. brings together artists, investors, decorators, designers, private collectors and art galleries. Artfest International's corporate site is www.artfestinternational.com. Artfest's subsidiaries are Art Channel, Inc. (www.artchannel.tv), and Art Channel Galleries, Inc. (www.ArtChannelGalleries.com), offering the most exciting product and rewards program in the history of direct sales marketing.

Safe Harbor Statement -- This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ARTI does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

Contact Information

  • Contact:
    Investor Relations
    Management Solutions International
    1 407-389-5900