Full Press Release Details
MEDIA GROUP SIGNS AGREEMENT TO PURCHASE
AUTO RACING ORGANIZATION
Transaction Provides European Base to Expand Entertainment and Marketing-Related
ANGELES, CA - July 30, 2008 - Stratus Media Group, Inc.
(OTC:SMDI.PK) today announced it has signed a definitive purchase agreement
acquire Exclusive Events S.A., a privately held corporation based in Geneva,
Switzerland, in a cash and stock transaction with an aggregate base value
approximately $1.6 million before annual performance milestone bonus incentive
payments during a subsequent two-year period. Additional terms were not
disclosed. The transaction, subject to customary conditions and approvals,
expected to close on or before December 15, 2008.
acquisition represents a significant step in our strategic initiative to
the company's global portfolio of live entertainment events, particularly auto
sports and VIP hospitality venues. Additionally, this transaction provides
organization with an office in a central European location to capture
international growth opportunities, while leveraging our existing expertise
resources to enhance the operations of Exclusive Events," said Paul Feller,
chairman and chief executive officer of Stratus Media Group
emphasized the acquisition will enable our organization to produce in Europe
additional events and services currently offered by Stratus Media in the
States -- such as music festivals, actions sports, talent management and
marketing programs associated with the company's Stratus Rewards Visa White Card
Exclusive Events S.A.
Geneva, Switzerland, Exclusive Events organizes high-end, non-competitive
racing experiences for corporate and private clients throughout Europe,
and Southern Asia -- providing professional Formula 1, Formula 3, Formula
Daytona and Le Mans Champions as driving coaches, high-performance Ferrari
racing automobiles and Formula 1 race track venues, as well as VIP hospitality
and culinary excellence to enhance the events.
Stratus Media Group, Inc.
in November of 1998 and based in Los Angeles, Stratus Media Group (formerly
Feris International, Inc.) is an owner, operator and marketer of live
entertainment and sporting events. The company is primarily focused on
growth and acquisitions within the entertainment-related market -- including
action sports, automotive shows, college sports, food events, motor sports
auto racing, music concerts and festivals, running events, diversified
marketing, running events, trade shows and expositions, and talent management.
In addition, the company intends to expand its consumer rewards marketing
redemption activities through its recently acquired Stratus Rewards Visa
Card and an association with the Visa Signature credit card -- providing
exclusive benefits to its cardholders in the form of VIP event access,
trips, private jet travel, luxury automobiles, high-end merchandise and
rewards for specified levels of use.
in this press release relating to plans, strategies, economic performance
trends, projections of results of specific activities or investments, and
statements that are not descriptions of historical facts may be forward-looking
statements within the meaning of the Private Securities Litigation Reform
1995, Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking information is inherently
subject to risks and uncertainties, and actual results could differ materially
from those currently anticipated due to a number of factors which include
are not limited to risk factors inherent in doing business. Although the
company's management believes that the expectations reflected in the
forward-looking statements are reasonable, it cannot guarantee future results,
levels of activity, performance or achievements. The company has no obligation
to update these forward-looking statements.