Grand Entertainment & Music, Inc. Finalizes Deal With Lost City Records

MONTREAL , CA. (Grand Entertainment & Music, Inc.) -- Grand Entertainment & Music, Inc. (PINKSHEETS: GMSC) announces that it has finalized the signed agreement with Lost City Records.

Last month, Grand Entertainment signed a letter of intent to purchase 50% of Lost City Records in a non-share, cash transaction. Over the last few weeks, executives and consultants worked together on the terms of the acquisition. Upon completion of the terms of agreement, attorneys finished drafting all necessary contracts, and the deal was signed and finalized this week. The agreed price is $500,000, and the payment terms of the acquisition are very favorable for Grand Entertainment. Despite being a non-share transaction, only a small amount of money is due up front, and GEM has up to twelve months to pay off the remaining balance. The company feels that incoming revenue will be ample enough to satisfy the remaining payment.

"This is a monumental day for our company," stated President Fred Berlin. "This new partnership means we are now a part of up-and-coming stars like Big Lou, K.I., and WundaBarz. I am extremely pleased with this business move. This acquisition is an essential step in the growth of our company, and the addition of Lost City's artists, studios, and reputations can only further our success."