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DALLAS, TX — June 24, 2009 — Artfest International, Inc. (OTCBB:ARTI.OB) is pleased to announce that the Company is in the process of establishing the worldwide “gold” standard for how art and collectibles are marketed, tracked, and valued through its RFID technology. During the Company’s nationwide teleconference yesterday, Edward Vakser, CEO of Artfest International, was able to update the financial community about Artfest International’s RFID software functionality and applications within the art and collectibles sector, the $5 Million Equity Line of Credit that the Company recently finalized with Delaney Capital, as well as the status of its acquisition of Charity Sports Distribution, Inc. and what the impact the acquisition will have on the Company. Ms. Angie Tassan, Chief Marketing Officer of Artfest International, Inc. discussed the Company’s new Expo Center that recently opened in Dallas, Texas, the artists that are under the Artfest “umbrella”, and how through www.artchannelgalleries.com, anyone can own their own fine art gallery.
Mr. Vakser explained how Artfest’s business model based around its RFID technology and software package keeps all players in the art and collectibles industry “honest”. During the call, Mr. Vakser gave the example that if a consumer bought a limited edition collectible embedded with Artfest’s RFID technology, then the consumer would be able to connect to a data base that shows them all the parameters of that particular collectible, where it was purchased, when it was purchased, for what amount it was purchased, what number of the limited edition they purchased, etc. Artists or athletes are able to see how many pieces or items was produced and/or sold. The information on the RFID chip can be read either through an iPhone, PDA, and/or with Artfest’s reader package. “Artfest is also addressing the issue of forgeries and fraud in the art and collectible sector by offering an insurance based policy with every piece bought or sold through Artfest. If the owner of the piece maintains the policy, this will help maintain the true value as well as the overall provenance of the piece. There is no other entity in our industry trying to achieve the standard we have established,” stated Mr. Vakser. Mr. Vakser also mentioned during the nationwide teleconference that Arftest International has completed a $5 Million Dollar equity line of credit with Delaney Capital, LLC. The Company plans to utilize the funds to complete various mergers and acquisitions. He stated that Artfest is looking to acquire collectible and framing companies, as well as securing the rights to artists and purchasing art galleries. Mr. Vakser expects that the acquisition of Charity Sports Distribution will be completed within a week now that the equity line of credit has been finalized. Mr. Vakser stated that the acquisition of Charity Sports Distribution would significantly increase the Company’s revenues through Charity Sports Distribution’s agreements with the Dallas Cowboys, Texas Rangers, the Dallas Stars, the Dallas Mavericks, as well as 27 College Teams. Angie Tassan, the Chief Marketing Officer of Artfest International, explained that once the acquisition of Charity Sports Distribution is completed then Artfest would also be the official high-end sports memorabilia dealer of the Dallas Cowboys. She also discussed the grand opening of the Company’s 52,000 square foot Expo Center in Dallas. “We have hosted several events in the month of June at the Expo Center including the launch today of the Global Peace Project. This is a project that is in conjunction with one of our artists, D. Arthur Wilson and his character Rhupert,” stated Ms. Tassan. She also explained that Artfest International currently has several artists under its “umbrella” including the Russian artist, Kazanin, Randy Jacobs, and Lisa Wilson. Ms. Tassan also discussed how anyone around the world could own their own fine art gallery on-line through www.artchannelgalleries.com. She explained how each member could customize their own on-line gallery, and that Artfest had the most advantageous rewards program. “Through technology, Artfest is able to promote and market art t the masses, track art, as well as insure art,” stated Angie Tassan. “We are looking to grow our revenue significantly in the near future through avenues such as expanding our wholly owned subsidiary, Art Channel Television and opening new Expo Centers around the country,” stated Edward Vakser, CEO of Artfest International, Inc. To listen to a replay of Artfest International’s nationwide teleconference please visit the Company’s website: www.artfestinternational.com. (Click here to listen to the conference now.) About Artfest International, Inc.
Artfest International, Inc. is a publicly traded Company under the stock symbol "ARTI." Artfest brings together artists, investors, decorators, designers, private collectors and art galleries. Artfest International's corporate site is www.artfestinternational.com. Artfest's subsidiaries are Art Channel, Inc. www.artchannel.tv, and Art Channel Galleries, Inc. www.ArtChannelGalleries.com, offering the most exciting product and rewards program in the history of direct sales marketing. Safe Harbor Statement -- This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ARTI does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law. Contact:
Investor Relations
Big Apple Consulting USA
1 407-389-5900
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