Color Star Announces Appointment of New Vice President

NEW YORK, Sept. 03, 2024 (GLOBE NEWSWIRE) — Color Star Technology Co., Ltd. (Nasdaq: ADD) (“Color Star” or the “Company”), a globally networked entertainment technology company focused on the application of technology and artificial intelligence in the entertainment industry, today announced the appointment of Ren Pelosi, a distinguished financial and strategy expert, as Vice Chairman of the Company, effective September 1, 2024.

Prior to this appointment, Ms. Ren Pelosi worked as an equities trader at World Trade Securities. She holds a bachelor’s degree in finance from St. Cloud State University and a master’s degree in cognitive science from Columbia University.

The company hopes to leverage Ren Pelosi’s financial and strategic expertise to achieve new breakthroughs and innovations in investing and financial management in the future.

Haixiang Luo, CEO of Color Star, said of the appointment: “We are very honored to have Ms. Ren Pelosi join the company. Her experience will provide strong impetus for the company’s future developments. We are confident that under Ms. Ren Pelosi’s leadership, the company will achieve even greater success in the investment field.”

About Color Star Technology Co., Ltd.

Color Star Technology Co., Ltd. (Nasdaq: ADD) is an entertainment and education company that provides online entertainment shows and online music education services. Its business operations are conducted through its wholly-owned subsidiaries, Color Metaverse Pte. Ltd. and CACM Group NY, Inc. The Company’s online education is provided through its Color World music education and entertainment platform. More information about the Company can be found at www.colorstarinternational.com and www.colorstar.investorroom.com.

Forward-Looking Statements

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans, objectives, goals, strategies, future events or performance, as well as underlying assumptions and other statements that are not statements of historical fact. When the Company uses words such as “may,” “will,” “intend,” “should,” “believes,” “expects,” “anticipates,” “projects,” “estimates” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company’s expectations described in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to: the Company’s objectives and strategies; the Company’s future business development, including the development of the Metaverse Project; demand for and acceptance of the Company’s products and services; technological changes; economic conditions; growth in the international educational and training services market in which ADD operates; reputation and brand; the impact of competition and pricing; government regulation; the occurrence of any event, change or other circumstance that could cause the terms of the LOI not to be subsequently incorporated into a definitive agreement; the outcome of any legal proceedings that have been or will be instituted against Color Star or other parties to the LOI following the announcement of the LOI and the transactions contemplated therein; Color Star’s ability to meet NASDAQ listing standards in connection with the completion of the transaction contemplated therein; the inability to complete the transactions contemplated by the LOI due to the failure to satisfy certain closing conditions; risks that the proposed transaction disrupts current plans and operations and potential employee retention difficulties resulting from the announcement of the LOI and the consummation of the transaction described therein; costs associated with the proposed acquisition; changes in applicable laws or regulations; the ability of the combined company to achieve its financial and strategic objectives, due to, among other things, competition, the ability of the combined company to grow and manage growth profitability, maintain customer relationships and retain key employees; the possibility that the combined company may be adversely affected by other economic, business and/or competitive factors; and other risks and uncertainties described herein, as well as the risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission by Color Star. For these and other reasons, investors are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which can be found at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable laws, regulations or rules.

For further information please contact:

Color Star Investor Relations
Office number 1003, 9th floor,
7 World Trade Center, Suite 4621
New York, NY 10007
Office: (212) 410-5186
Send an email to [email protected]