Grand Entertainment & Music, Inc. Announces Letter of Intent to Purchase Independent Record Label

MONTREAL, Canada (Grand Entertainment & Music, Inc.) - Grand Entertainment & Music, Inc. announces that it has signed a non-binding letter of intent (LOI) for the acquisition of an independent U.S. record label.

Grand Entertainment signed a letter of intent to purchase 50% of the label in a cash, non-share transaction. Both companies will be in a period of due diligence over the next 30 days, and hope to have the deal finalized before the holidays.

The acquisition of this record label will bring additional assets to Grand Entertainment. Over the last decade, this independent label has signed over a half dozen award-winning artists, and built a 500+ song catalogue. In addition, the label owns a fully operating studio with over one hundred thousand dollars of up-to-date studio equipment.

President Fred Berlin stated, "I am excited about this business move. I have always believed that acquisitions are a viable path to company growth. The addition of these new artists and vast song catalogues will be just another step in that direction, and I feel that both companies have a lot to gain from working together. More details will be forthcoming over the next few weeks."