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Wed, July 29, 2009 IGSM GROUP INC.: IGSM Group Inc. Acquires Music Label Richie Rich Entertainment Inc.
FT. LAUDERDALE, FL--(Marketwire - July 29, 2009) - IGSM GROUP INC. (
"We are so pleased to have finalized the transaction and believe now as part of a publicly traded company, Richie Rich Entertainment will be able to expand. Our focus is on Latin America as well as continuing to solidify our position in the United States as a leader in production and distribution of top records in Hip Hop, America's number one seller at this time," said Richard Markle, President and CEO of Richie Rich Entertainment, Inc.
The record business is a multi-billion dollar a year industry, divided between traditional sales of CDs and digital distribution. "In 2008 the digital music business internationally saw a sixth year of expansion, growing by an estimated 25 percent to US$3.7 billion in trade value," according to IFPI (International Federation of the Phonographic Industry) statistics.
Richie Rich Entertainment has some of the industry's top recording artists as part of its stable and seeks to expand its line-up. Richie Rich boasts top entertainment including Tha Paper Boiz, J.D. Mac and King Tut The Don featured at [ www.richierichentertainment.net ] and will expand all operations to accommodate the growing company.
"We are now going to expand distribution domestically and internationally, for the company to reflect the business of recording, marketing and sales in the entertainment business," Richard Markle continued. "Now we will grow and continue to pursue top talent and give the public an assortment to choose from. Our aggressive approach with an American inner city flair will open merchandising opportunities."
About IGSM GROUP INC.
IGSM GROUP INC. is based in Florida and provides outsourced Digital Services to business of all sizes. It recently announced the addition of a Television Library and that it intends to expand its Digital Service business.
FORWARD-LOOKING STATEMENT
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of IGSM GROUP INC., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include, but are not limited to, fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise any forward-looking statement.
