SOURCE: Artfest International, Inc.

June 11, 2009 09:01 ET

Artfest International, Inc. Launches Aggressive Merger and Acquisition Campaign

Company Looks to Acquire Synergetic Organizations After Receiving $5 Million Equity Line of Credit

DALLAS, TX--(Marketwire - June 11, 2009) - Artfest International, Inc. (OTCBB: ARTI) is pleased to announce that the Company has launched an aggressive merger and acquisition campaign based on the recent $5 Million equity line of credit Artfest International received through the investment banking agreement with Delaney Equity Group, LLC. Artfest International is in the process of completing the acquisition of Charity Sports Distributor, Inc.

Artfest International is looking to acquire organizations that have fit into its overall business model and have synergies with its current subsidiaries, Art Channel, Inc. and Art Galleries, Inc. Some of the merger and acquisition candidates that the Company is currently evaluating are in a variety of sectors within the art, memorabilia and media industries, such as art galleries, sports memorabilia companies, television networks, production companies, printers and manufacturers, and frame manufacturers. Through these acquisitions, Artfest International is looking to expand its presence in Los Angeles, New York, Dallas, Chicago, Orlando, and Miami.

"We are looking to strengthen our market position through key acquisitions in the art, memorabilia, and media industry. This acquisition strategy fits into Artfest's overall plan in becoming the gold standard for the art and memorabilia industry. Our goal is to acquire vertically integrated companies and service providers that will enhance our product and manufacturing capabilities, as well as increase an overall revenue and income," stated Edward Vakser, CEO of Artfest International, Inc.

"We have targeted a host of acquisitions, including printing and manufacturing, that would combined bring additional $20,000,000 in revenues as well as strengthen our position as a 'turn key' product provider of memorabilia and art," explains Angie Tassan, CMO of Artfest International, Inc.

Artfest International recently announced that they will be holding an open house for the financial community at their Expo Center in Dallas, Texas, as well as hosting a Nationwide Teleconference on June 23, 2009. Please call (407) 389-5900 today to reserve your place and receive information for the open house and the nationwide teleconference.

About Artfest International, Inc.

Artfest International, Inc. is a publicly traded Company under the stock symbol "ARTI." Artfest 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
    Big Apple Consulting USA
    1 407-389-5900