NEW
YORK, July 10, 2023 /PRNewswire/ -- Color Star
Technology Co., Ltd. (Nasdaq: ADD) ("Color Star" or the "Company"),
an entertainment technology company with a global network that
focuses on the application of technology and artificial
intelligence in the entertainment industry, together with the World
Boxing Association (the "WBA") announces today that the "Color
World Cup - World Boxing Association World Tour" has received
international attention. The tournament is scheduled to kick off in
Dubai on August 26, 2023, followed by stops in
China, Thailand, South
Korea, and Vietnam. A news
conference is planned to take place to announce the tournament
line-up.
Back in May 2023, Color Star
announced that it had obtained the authorization from the WBA
Association for the Color World Cup, and the news has attracted
international attention. A prestigious boxing organization within
167 member countries, its gold championship belt is regarded by
boxers as a symbol of a world champion. The WBA championship is
back in full swing after a 3 year hiatus. The "Color World Cup -
World Boxing Association World Tour" has a big international
following as a leading boxing event. The first event is scheduled
to take place in Dubai on August
26, 2023. The tournament will feature first-rate fighters
from China, Thailand, the
Philippines, Cameroon,
India, Pakistan and Cuba. Three WBA intercontinental championship
belts will be awarded on the night. The event will be accompanied
by a news conference, which may feature WBA President and
internationally renowned boxing promoter Liu Gang, as well as other key boxing
figures.
The WBA believes that Asia is
very passionate about boxing, and that putting in the positive
efforts to promote and expand in the region is the correct
direction.
"The Color World Cup - World Boxing Association World Tour is a
competition for the gold championship belt in the truest sense, and
we plan to gradually expand the competition to the whole world in
the future," said Liu Gang, an
internationally renowned boxing promoter and partner of the
tournament. "Many of the world's top fighters will join our
tournament, which we hope will be a great boost to our boxing
culture."
Louis Luo, CEO of Color Star,
said "We have organized various events in the past, which have
greatly enhanced Color Star's brand awareness and commercial value.
Ticket sale revenue and various commercial partnerships such as
with TV broadcasters, e-commerce, advertising revenue, player
endorsements, sponsorship partnerships, etc. all add to the
profitability of Color Star and our partners. It is also an
indication that we plan to organize and host more prestigious
sporting events in the future to increase awareness and exposure
for our brand."
Forward-Looking Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are not
guarantee of future performance and involve risks and uncertainties
that may cause the actual results to differ materially from the
Company's expectations discussed in the forward-looking statements.
These statements are subject to uncertainties and risks including,
but not limited to, the following: the Company's goals and
strategies; the Company's future business development, including
the development of the metaverse project; product and service
demand and acceptance; changes in technology; economic conditions;
the growth of the educational and training services market
internationally where ADD conducts its business; reputation and
brand; the impact of competition and pricing; government
regulations; fluctuations in general economic and business
conditions and assumptions underlying or related to any of the
foregoing and other risks contained in reports filed by the Company
with the Securities and Exchange Commission. For these reasons,
among others, investors are cautioned not to place undue reliance
upon any forward-looking statements in this press release.
Additional factors are discussed in the Company's filings with the
U.S. Securities and Exchange Commission, which are available for
review at www.sec.gov. The Company undertakes no obligation to
publicly revise these forward–looking statements to reflect events
or circumstances that arise after the date hereof unless required
by applicable laws, regulations or rules.
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SOURCE Color Star Technology Co., Ltd.
