NEW YORK, Aug. 28, 2020 /PRNewswire/ -- Color Star
Technology Co., Ltd. (Nasdaq CM: HHT) (the "Company", "we" or
"HHT"), a company engaged in the business of providing education
services, today announced that its wholly owned subsidiary, Color
China Entertainment Limited ("Color China"), has officially reached
a long-term strategic agreement with Red Phoenix Entertainment. In
the future, the two parties will leverage on each other's
advantages to develop in-depth cooperation on sports education,
brand promotion, and online star education.
The cooperation between the two parties allows Color China to
strategically expand into sports area to create professional,
diversified and educational services. The cooperation also enables
Color China to expand from the entertainment industry to more
profitable and derivative industries such as sports, and greatly
enhances Color China's extensiveness and operability through the
combination of online and offline. In the near future, Color China
and its parent company Color Star Technology Co., Ltd. will launch
its self-developed star online education service software globally.
After the software is launched, Red Phoenix will leverage its
influence and profound resources in sports, including actively
encouraging outstanding athletes to cooperate with Color China in
sports education.
CEO of Color Star Technology Co., Ltd., Mr. Biao Lu said, "Color China aims to strategically
expand in sports area to bring top athletes to its star instructor
crew. We believe that cooperating with Red Phoenix will generate
more users for Color Star Technology platform and reach a new
milestone. A deep and long-term strategic alliance with the Red
Phoenix will unquestionably become a mutually beneficial, win-win
partnership for the development and growth of both parties."
About Color Star Technology Co., Ltd.
Color Star Technology Co, Ltd. (Nasdaq: HHT) offers online and
offline innovative knowledge-paid services for music and
entertainment industries globally. Its official website is
www.colorstarinternational.com. Its business operations are
conducted through its wholly-owned subsidiaries Color China
Entertainment Ltd. and CACM Group NY, Inc. The Company's online
education is provided through its Color World music and
entertainment education platform. The Company also offers
after-school entertainment tutoring in New York via its
joint venture entity Baytao LLC.
Forward-Looking Statements
Certain statements made herein are "forward-looking statements"
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"anticipate", "believe", "expect", "estimate", "plan", "outlook",
and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. Such forward-looking statements include the
business plans, objectives, expectations and intentions of the
parties following the completion of the acquisition, and HHT's
estimated and future results of operations, business strategies,
competitive position, industry environment and potential growth
opportunities. These forward-looking statements reflect the current
analysis of existing information and are subject to various risks
and uncertainties. As a result, caution must be exercised in
relying on forward-looking statements. Due to known and unknown
risks, our actual results may differ materially from our
expectations or projections. All forward-looking statements
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these factors. Other than
as required under the securities laws, the Company does not assume
a duty to update these forward-looking statements. The following
factors, among others, could cause actual results to differ
materially from those described in these forward-looking
statements: there is uncertainty due to the COVID-19 pandemic and
the impact it will have on HHT's operations, the demand for the
HHT's products and services, global supply chains and economic
activity in general. These and other risks and uncertainties are
detailed in the other public filings with the Securities and
Exchange Commission (the "SEC") by HHT. Additional information
concerning these and other factors that may impact our expectations
and projections will be found in our periodic filings with the SEC,
including our Annual Report on Form 20-F for the fiscal year ended
June 30, 2019. HHT's SEC filings are
available publicly on the SEC's website at www.sec.gov. HHT
disclaims any obligation to update the forward-looking statements,
whether as a result of new information, future events or
otherwise.
Color Star Technology Co., Ltd.
Contact: Investor Relations
FinancialBuzzIR™
info@FinancialBuzzIR.com
Tele: +1-877-601-1879
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SOURCE Color Star Technology Co., Ltd.