SOURCE: Artfest International, Inc.

June 09, 2009 08:31 ET

Artfest International, Inc. to Receive $5 Million Equity Line of Credit to Complete Key Acquisitions

Company Signs Investment Banking Deal With Delaney Equity Group, LLC

DALLAS, TX--(Marketwire - June 9, 2009) - Artfest International, Inc. (OTCBB: ARTI) is pleased to announce that the Company has signed an investment banking agreement with Delaney Equity Group, LLC. Delaney Equity Group is facilitating a $5 Million equity line of credit with a private group of investors, which will enable the Company to complete the acquisition of Charity Sports Distributor, Inc., a vertically integrated Texas-based custom framing company, which specializes in the design, production, and distribution of authentic framed autographed sports and entertainment collectibles and art pieces. As part of its fee, Delaney Equity Group will receive warrants at five and ten cents per share.

The equity purchased through the equity line will not be registered and will have a minimum hold period of six months, with Artfest International having the option to purchase the stock back at anytime within the hold period.

Delaney Equity Group, LLC is a boutique broker dealer and market making firm specializing in trading Over the Counter, U.S. listed equities and International securities for a select group of hedge funds, professional traders, accredited investors and financial institutions. Delaney Equity Group possesses extensive experience in executing large trades in thin markets with minimal impact and is recognized for providing clients with superior executions, premier trading tools and support and exceptional client service. Delaney Equity Capital Group will also be providing services to Artfest International, such as advising on the formation and implementation of corporate goals, the financial structure of the Company, reviewing possible joint ventures and/or merger and acquisition candidates, and attending and giving presentations at investor road shows.

"Through its sound business strategy, we believe Artfest International is in the process of establishing the 'gold standard' for the art and collectibles industry," stated David Delaney, President of Delaney Equity Group, LLC.

"The investment banking deal with Delaney Equity Group will enable Artfest International to complete the CSD acquisition, as well as embark on an aggressive acquisition strategy, which will enable us to fulfill our overall business plan," stated Edward Vakser, CEO of Artfest International, Inc.

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 Artfest's subsidiaries are Art Channel, Inc., and Art Channel Galleries, Inc., 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