CASPER, WY -- March 03, 2019 -- InvestorsHub NewsWire -- Imagination TV, Inc. (IMTV) has withdrawn from its agreement with Nine Mile Entertainment to produce the annual 9 Mile Music Festival, due to a substantial increase in the production budget for the March 9, 2019 event.
On August 9, 2018, Imagination TV. entered into an agreement with Nine Mile Entertainment to co-produce the annual 9 Mile Music Festival. Juan Areco, the Company’s CEO commented, “At the time we entered into the agreement there was a preliminary budget for the event and IMTV was comfortable making a commitment for the funds needed. Richard Booker and his company Nine Mile Entertainment produce an incredible show year after year; however, the March 9 event became subject to an -increasing budget, which we could not commit to despite our best efforts. I have no doubt that the annual 9 Mile Music Festival will be a fantastic event -- we encourage all in the Miami and South Florida area to attend the March 9, 2019 event.
CEO Juan Areco continued, "We are currently hard at work to produce our own solo event in the very near future and will be providing updates on this event."
About Imagination TV Inc.
Imagination TV Inc. is a publicly traded online media and entertainment company with a focus on the Music & Live Event industries. http://www.ImaginationTV.co
About 9 Mile Music Festival.
About Nine Mile Entertainment Inc.
Nine Mile Entertainment is owned and operated by Richard Booker, Bob Marley's Brother. The company is responsible for organizing/producing the annual 9 Mile Music Festival and Food Drive in Miami, FL. More than a concert, more than a day, the 9 Mile Music Festival has provided over 4 million canned goods to various charities since its inception, distributing them to homeless shelters and food banks throughout Miami and Jamaica. The festival serves a double purpose, feeding families in need and bringing to Miami the magic and music of Jamaica and the rest of the Caribbean.
Statements made in this press release that express the Company or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe," "expect," "intend," "estimate," "anticipate," "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company's forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company's future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
+1 (307) 201-0602