SOURCE: Experience Art and Design, Inc.

Experience Art and Design, Inc.

June 04, 2013 09:00 ET

Experience Art and Design Announces Plan to Acquire Fine Art Inventory, Moulds and Estate Rights of Ghiglieri Artists

WILSONVILLE, OR--(Marketwired - June 04, 2013) -  Experience Art and Design, Inc. (OTCQB: EXAD) (the "Company") is pleased to announce that on June 3, 2013 the Company entered into a Memorandum of Understanding ("MOU"), whereby the Company will acquire a significant collection of original art and rights to produce the works of world-renowned artist Lorenzo Ghiglieri and many works of his son, Laran Ghiglieri (the "Purchased Assets"). The Purchased Assets include an existing inventory of bronze sculptures, other artwork, sculpture moulds, works in process, rights under art procurement agreements with the original artists and rights to acquire Lorenzo Ghiglieri artwork and rights to artwork under an agreement with Lorenzo Ghiglieri ("Property Agreement").

Lorenzo Ghiglieri, age 81, and his son Laran Ghiglieri, age 43, are both notable among collectors of sculpture that depict the history of American West and sculpture of North American and African wildlife. Collectors include numerous celebrities, former president Ronald Reagan, King Juan Carlos of Spain, Pope John Paul II and former president of the Soviet Union, Mikhail Gorbachev. Lorenzo is also regarded as one of the foremost creators of monumental sculptures that range in size from 12 to 25 feet in height.

According to Gordon Root, President of Experience Art and Design, Inc., "The inventory, moulds and estate of Lorenzo Ghiglieri will provide us both immediate and long-term revenue opportunities. Importantly, the Gighlieri portfolio of art from both Lorenzo and Laran will expand our breath of international collectors and galleries. Collectors of the American West and wildlife fine art sculpture have different preferences from those who prize the classic fine art sculpture of the Renaissance, Herculaneum and Pompeii produced by the artisans at our Chiurazzi Foundry in Naples, Italy." 

Under the terms of the MOU, EXAD will issue unregistered shares of its common stock in exchange for the Purchased Assets. EXAD would assume no liability except in connection with the Property Agreement. Execution of a definitive purchase agreement is subject to satisfactory completion of due diligence, and management has agreed to work toward completion of due diligence and execution of a definitive purchase agreement as soon as is practical, with closing soon thereafter.

The definitive purchase agreement will contain customary representations, warranties and covenants, and closing of the purchase agreement is subject to requisite approvals and consents, the absence of any material adverse change and such other conditions as agreed upon by the parties. Upon closing of a definitive purchase agreement, the Company would expand its operations to begin marketing sculpture from current inventory through multiple channels and begin ordering additional castings from existing moulds.

About Experience Art and Design, Inc.

Experience Art and Design, Inc. (OTCQB: EXAD) is the owner of Chiurazzi Internazionale, S.r.l., which is now the operating subsidiary of Experience Art and Design, Inc. Chiurazzi Internazionale, S.r.l., owns and operates the Chiurazzi Foundry based in Casoria, Italy, which houses the world renowned Chiurazzi Mould Collection. The Collection is comprised of more than 1,650 artistic bronze sculpture moulds taken from original marble and bronze masterpieces which are housed in many of the most famous museums in the world. 

The Chiurazzi Foundry obtained authorization from the Italian Ministry of Cultural Heritage and Activities in 1890 to enter the National Archeological Museum in Naples, Italy, to take moulds of the collection of art and artifacts excavated from the ruins of Pompeii and Herculaneum. The mould-making was then expanded to other museums in Italy including the Vatican, the Villa Borghese, the San Pietro in Vincoli, Rome and the Uffizi Gallery and Bargello Museum in Florence and later to those that house art that originated in Italy including the Louvre, the Olympic, the Copenhagen, and the British museums. The bulk of the moulds were taken from 1890-1939.

Artists represented in the collection include Michelangelo, Bernini, Giambologna, Cellini, Canova, Donatello, and others. See www.chiurazzi.com.

Forward-Looking Statements

This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect the Company's current expectations about its future results, performance, prospects and opportunities. The Company has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "hope," or similar expressions. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements and specifically those statements referring to any specific projects, such as the Acquisition, mentioned herein. These risks are described from time to time in the Company's SEC filings, which are available online at www.sec.gov; and such factors as incorporated by reference. The Company does not undertake any obligation to update any forward-looking statements as a result of new information or developments, except as required by law. 

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