SOURCE: OVATION MUSIC & STUDIOS, INC.

Ovation Music & Studios, Inc.

October 27, 2016 12:56 ET

Digital Legend Updates Shareholders on Progress

BOCA RATON, FL--(Marketwired - Oct 27, 2016) - Digital Legend Technology Inc., ("Digital Legend") www.digitallegends.com a privately-held company, has recently entered a Letter of Intent to be acquired by Ovation Music & Studios, Inc. ("Ovation") (OTC PINK: OVMS). Ovation is pursuing this acquisition in an effort to enter into the $10 billion a year music streaming market. Digital Legend is developing software and digital devices aimed at the music streaming market. Digital Legend's software is Cloud Mountain, a mobile social networking platform that enables live music sharing in a private social media messenger environment. Friends can share, discover and participate with each other in live listening parties on the platform. Cloud Mountain will also offer a bitcoin payment system for both Artist and consumers of music.

Digital Legend's hardware is a modern take on the 1980s boom box. Digital Legend is readying for early 1st quarter 2017 release a mobile digital boom box featuring hifi FM digital radio coupled with integrated class d Amplifiers and 32bit digital to analog converters (DAC) known as MBox. This device will be able reproduce stereo quality sound from streaming music platforms Spotify, iTunes, Tidal and others. Digital products offer a 1-2 entree into the lucrative music streaming industry for OVMS.

WHAT MAKES DIGITAL DIFFERENT

Digital Legend has cracked the code and its MBox -- Epic Sound provides 10x the sound quality at 20% of the cost of its nearest competitors like, JVC, Sony, Beats, etc. Furthermore, the Company is developing an audio listening platform that allows listeners to participate in live music and new music/artist launch and listening parties, while communicating digitally at the same time. Millennials are eager to share their lives digitally with their friends and that includes music. This platform also allows artist to be paid in bitcoins, which will increase their compensation by cutting out the numerous intermediaries between the artist and their digital rights payments.

The potential expansion of OVMS into the digital world with both cutting edge software platforms and high quality music streaming devices with Epic Sound is a strong pivot for the company into the digital space. These products and services will attract the lucrative Gen X to Millennial generations and beyond.

Tim Webb is a serial entrepreneur and financial engineer that has been representing companies in the technology space globally for numerous years. Mr. Webb is proud to lead Digital Legend through an acquisition by OVMS and believes that music listening will never be the same after Digital Legend's digital products and services are launched.

The industry is in need of better sound quality on digital and mobile devices and consumers are eager to share their music life with friends over social networks via programs like Cloud 9.

About Ovation Music & Studios, Inc.

The Company develops businesses for future franchise opportunities and is currently developing Ovation Music & Studio Boca Raton as a potential franchise. The Company is preparing to enter the restaurant pizzeria space with a developed business model as a franchise opportunity.

Forward-Looking Statements

This release may contain statements that are "forward-looking statements". Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. These statements are based on current estimates and projections about the Company's business, which are derived in part on assumptions of its management, and are not guarantees of future performance, as such performance is difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Such factors include, but are not limited to, the Company's limited operating history, ability to execute effectively its business plan, economic and political conditions, changes in consumer behavior and the introduction of competing products having technological and/or other advantage, the Company's, the limited financial resources, and conditions of equity markets. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. No information in this press release should be construed as an indication of the Company's future revenues or financial results.

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