SOURCE: Grand Entertainment & Music, Inc.

November 15, 2007 07:00 ET

Grand Entertainment & Music, Inc. Announces Contract Negotiations and Other Updates

MONTREAL--(Marketwire - November 15, 2007) - Grand Entertainment & Music, Inc. (PINKSHEETS: GMSC) announces new shareholder updates, including contract negotiations for Lost City Records artist Big Lou.

New Jersey based hip-hop MC, Big Lou, is currently in the process of renegotiating his agreement with Lost City Records. Lou's previous contract has expired, and both parties have been working on defining the terms of his new contract over the last few weeks. These negotiations could include a contract extension as well as other considerations.

At the present time, Grand is also re-examining its current contract with reggaeton artist, Qbanito. The Company will release an update on this matter after the Thanksgiving holiday.

"Grand Entertainment & Music wants what is best for the company," stated President, Fred Berlin. "We want to renew the Big Lou contract only if it is in the best interest of the shareholders. We here at Grand believe in Lou and his abilities. In the last year alone, he has headlined several showcases, made the cover of a documentary DVD, and was invited to collaborate with top named artists such as Busta Rhymes and Joell Ortiz. I feel confident in saying that he has a great future ahead of him. There are also other ventures that we are currently considering as well. Over the last few months, Grand has been researching and considering new lines of funding in order to maintain current operations, as well as pursue these possible new opportunities."

Based in Montreal, Canada and incorporated in November 1998, the Company is an independent music entity that produces, promotes, markets and controls the copyrights on music recordings in multiple formats. Additionally, The Company's multi-million dollar studio, Cherry Studios, has produced voice-overs and sound tracks for commercials and film. In addition, Cherry Studios has also produced thousands of recordings and has to its credit a total of 23 gold and platinum albums. GEM has recently found success in the reggaeton market with its signature artist, Qbanito. Qbanito's debut album has already generated a #1 hit in Canada and is currently being marketed by Universal Music in Europe. Grand Entertainment also controls exclusive rights to vast catalogues of previously unreleased recordings from Cuban music archives. In November 2006, Grand Entertainment acquired half of Lost City Records, adding a half dozen award-winning artists, including rising rap star Big Lou, and a 500+ song catalogue to Grand's existing assets. In addition, the company will continue to focus on growth through acquisitions over the next twelve months in an effort to reach its mission of becoming a premier production, recording, publishing, and internet distribution company.

Safe Harbor Statement

This release contains forward-looking statements with respect to the results of operations and business of Grand Entertainment & Music (GEM) Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.

Contact Information