SOURCE: Pointstar Entertainment Corp.

September 18, 2007 19:31 ET

Pointstar Completes Key Acquisition

DUBAI, UNITED ARAB EMIRATES--(Marketwire - September 18, 2007) - Pointstar Entertainment Corp. (the "Company" or "Pointstar") (OTCBB: PNST)

The Company is pleased to announce the acquisition of patent rights relating to the design of waste water treatment plants.

Pursuant to a letter agreement dated September 18, 2007 with Hans Bio Shaft Limited and its principal shareholder, Hassan Hans Badreddine, the Company purchased from Hans Bio Shaft Limited the United States, United Kingdom and European Union patent rights relating to the design of a certain waste water treatment plant system. The purchase price for the patent rights was 27 million shares in the common stock of the Company (which were issued to Mr. Badreddine) and US$750,000 cash (which were paid to Mr. Badreddine).

Additionally, Mr. Badreddine is entitled to additional compensation as follows: US$750,000 if the Company enters into contracts for the purchase of the said waste water treatment plant system in the aggregate amount of US$6,000,000 within 60 days of the closing; and US$1,000,000 if the Company enters into additional contracts for the purchase of the said waste water treatment plant system in the aggregate amount of US$10,000,000 within 180 days of the closing of the acquisition.

As part of the acquisition, Altaf Alimohamed has resigned as President of the Company and Mr. Badreddine has been appointed as President and a director of the Company. Additionally, Imad Kamel Yassine has been appointed as Chief Operating Officer of the Company.

The acquisition represents the first significant step for the Company as it transitions from a media company involved in the distribution of ethnic and special interest movies and television programs to an environmental technologies company.

For further information, please contact:

Samantha Haynes at (888) 299-1989
Samantha@bioshaft.com

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, statements as to the intended uses of the proceeds received from the private placement.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the change of business focus of the management of Pointstar and the inability of Pointstar to pursue its current objectives. These forward-looking statements are made as of the date of this news release and Pointstar assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Pointstar believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in Pointstar periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.

Contact Information

  • For further information, please contact:

    Samantha Haynes
    (888) 299-1989
    Email Contact