Los Angeles, California, May 23, 2024 – Stargaze Entertainment Group Inc. (OTC: STGZ) (the “Company”) announced today that Scenebot, Inc. (“Scenebot”) has acquired a controlling interest in the Company.
Pursuant to a Stock Purchase Agreement dated May 14, 2024, Scenebot purchased 25,000,000 common shares and 2,500,000 preferred shares of the Company from its controlling shareholder, Tony Green Organization Records Ltd. (“TGO”). The shares purchased from TGO give Scenebot voting control of the Company.
The Company’s Board of Directors appointed Antonio Dutra as Chairman of the Board, CEO and Secretary. It is anticipated that Antonio Dutra will act as CEO in an interim capacity while the new management team is finalized. Tony Green resigned as an officer and director of the Company, but will remain as an advisor to assist Scenebot with the transition.
The Company also entered into a Debt Settlement Agreement with TGO to settle all outstanding debt owed by the Company to TGO. Pursuant to the terms of the Debt Settlement Agreement, the Company paid TGO $30,000 upon execution and will make payment of $30,000 for each of the next five months. The Company also transferred all intellectual property previously contributed by TGO back to TGO.
Scenebot is currently refining its plans for future operations of the Company and will announce those plans when they are finalized.
Scenebot is an entertainment technology company located in Los Angeles, California. More information on Scenebot is available at www.scenebot.com.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control. Except as may be required by law, the Company undertakes no obligation, and does not intend, to update these forward-looking statements after the date of this release.