“Not only are my customers Artfest type of customers, but joining forces with Artfest will allow Celebrity to literally grow by leaps and bounds,” commented Celebrity owner Mike Kenner. “It is exciting to know that Celebrity will become global and part of a company positioned for growth.”
Larry D. Ditto, Artfest’s CEO/President commented, “Celebrity was of interest to us for many reasons. It has customers and venues in many different industries and in several locations around the country.” Ditto expressed excitement about entering into Celebrity’s marketplaces. “The Collectables and Memorabilia marketplaces have literally skyrocketed to prominence in recent years. Celebrity has been a successful and profitable business for over 17 years. Through this acquisition, Artfest will very quickly become a significant player in these markets. An added plus for Artfest is the acquisition will bring with it immediate positive cash flow.”
One of Celebrity’s most successful programs is it provides sports memorabilia products and original portraits of Celebrities to many casinos who use them to reward their best customers. Celebrity also participates in many silent auctions at Chambers of Commerce activities around the country. Celebrity’s client list includes many well known names such as, Trump Group of Casinos, Tropicana Hotel & Casino, Celebrity Players Golf Tour, Columbia, South Carolina Chamber of Commerce, Mohegan Grand Casino, Camp Lejeune Marine base, Mandalay Bay Hotel & Casino and Florida Atlantic University to name just a few.
Artfest’s website, www.myartfest.com was designed to lessen problems faced daily by those who rely on the art marketplace for some share of their living. Artfest’s unique approach to helping buyers and sellers of items of value connect is to bring them together into a global Internet trading environment specifically designed for them. Buyers who use the website to easily locate and buy unique works of art, collectables, memorabilia, hard to find antiques and luxury goods include collectors, designers, art lovers, gallery owners and artists.
The acquisition of Celebrity by Artfest is subject to the completion of the due diligence process by Artfest. It is expected that the acquisition will be completed by November 1, 2007.
Artfest stock trades on the NASDAQ Bulletin Board symbol ARTI. Shareholder relations can be contacted at 765-780-0915 and firstname.lastname@example.org. ##################