Internationally Renowned Software Platform "Come Come Delivery Services" Enters into Strategic Cooperation Agreement with Color Star's Metaverse

NEW YORK, Aug. 15, 2023 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq: ADD) ("Color Star" or the "Company"), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, announces today that it has officially entered into a framework strategic cooperation agreement with Come Come Delivery Services ("Come Come"), which provides that Come Come will open a separate ticket purchase channel for ColorWorld Metaverse's ("ColorWorld" or the "Metaverse") platform on the Come Come application. In the future, event tickets, including tickets for events organized by Color Star, and celebrity merchandise are planned to be released and available for sale on the Come Come platform.

The Come Come application, or app, has a large user base and is popular in the Middle East as well as internationally. With a wide range of brands and merchants available in the app and a reliable technical and service team to ensure a smooth and fast user experience, it has become a household name and an indispensable mobile app. In the future, both parties plan to closely cooperate on the sales of event tickets, celebrity merchandise, and other products, making them easy and convenient for people to purchase. To generate higher ticket income, Color Star is planning on strategically cooperating with sellers and services in specific countries and regions to open up more ticketing channels, creating convenient, fast and effective ways for the public to purchase tickets. At the same time, the Company is also looking to cooperate with famous businesses to drive up the commercial value and profits of the live events. Color Star strives to present the most magnificent live events to maximize the generation of profits.

Louis Luo, CEO of Color Star, said, "The planned cooperation between Color Star and Come Come is perfectly synergistic. Our strengths lie in the live performance industry, and we are able to organize all kinds of premier international events, while Come Come is a very successful platform with a healthy user base. The planned cooperation between the two parties is expected to drive each other's popularity and economic income. Popular products offered on a popular platform are expected to generate a larger amount of sales, and this loop is expected to yield mutual benefit for both parties. Color Star plans to continue cooperating with more formidable businesses in the future to create more sensational projects."

About Color Star Technology Co., Ltd.

Color Star Technology Co., Ltd. (Nasdaq: ADD) is an entertainment and education company that provides online entertainment performances and online music education services. Its business operations are conducted through its wholly-owned subsidiaries, Color Metaverse Pte. Ltd. and CACM Group NY, Inc. The Company's online education is provided through its Color World music and entertainment education platform. More information about the Company can be found at www.colorstarinternational.com and www.colorstar.investorroom.com.

Forward-Looking Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development, including the development of the metaverse project; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market internationally where ADD conducts its business; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations or rules.

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SOURCE Color Star Technology Co., Ltd.