Yesterday after the closing bell, Consorteum Holdings Inc. announced that it has acquired Consorteum Inc., a Canadian-based provider of payment and transaction solutions. Consorteum Inc. was acquired for 39,999,750 shares, of which management owns a controlling interest of over 26,000,000 shares.

Craig Fielding, CEO of Consorteum Holdings Inc., stated, “This is the first step in executing the strategic direction of the company into its next stage of evolution. We are making great strides in providing the market with a revolutionary and innovative new way of doing business, focused primarily on customer requirements, versus technology. The future of payment processing puts less emphasis on the provider of the services and more on the empowerment of the user to put more profits in their pockets. We believe that by doing business this way, we will naturally increase our market share and provide long-term shareholder growth.”

Mr. Fielding continued, “With our extensive industry experience, Consorteum Holdings, Inc. recognized a requirement within these niche and specialty industries to provide solutions to companies looking to maximize their business potential. We seized on this need and have assembled a team of broad-based industry experts to provide leadership to capitalize on this opportunity. Look for future announcements to outline our products and programs in greater detail.”

Consorteum Holdings Inc. will focus on providing leading-edge solutions to financial institutions, healthcare, government, public, associations, and private sector companies for electronic transaction processing and management consulting. The company will provide customized, innovative technology solutions that create, augment and enhance customers’ existing systems. Consorteum Holdings Inc. works with a number of global technology partners that enable the company to create customized solutions for each of their clients across a broad spectrum of industries.

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