Consorteum Holdings, Inc. Provides Update on Primary Initiatives

SOURCE: Consorteum Holdings, Inc.

LAS VEGAS, NV–(Marketwire – October 26, 2010) –  Consorteum Holdings, Inc. (PINKSHEETS: CSRH) announces today that it has made significant progress in the three main areas of its business. The Company has expanded its Blue Sea Manning pilot initiative to include additional staff members, and is optimistic about the prospects of further deployments within the industry. The Company believes that in the coming months it will be able to present its results to other potential clients within the sea cruise staffing industry. The purpose of the pilot is to validate the effectiveness of the Company’s card program while streamlining the payroll process and reducing current workload for the administrative staff of such companies.

As previously released, in January 2010, the Company increased its ownership position in My Golf Rewards to 75%. The Company and management at MyGolf Rewards have worked diligently to reposition and prepare MyGolf Rewards for a 2011 launch. The Company has identified appropriate trade shows and has approached appropriate strategic partners. The Company is working on the financing required for the launch, additional international relationships and expansion into the European market. All of these initiatives will require new capital.

As previously released, on July 27, 2010, the Company officially launched the initial pilot for the First Nations card in Canada, in the New Brunswick, Madawaska Maliseet community. Originally targeted at the administration staff, the card program is now being expanded to members of the community. The program is currently being promoted to specific additional pilot communities. The Company estimates that there are more than 600 locations and more than 400,000 First Nations members to whom the First Nations card may be marketed over time and with proper funding. Consorteum is in negotiations with a strategic partner to augment and fund further penetration into First Nations communities, although there can be no assurance that these negotiations will be successful. 

Craig Fielding, CEO, Consorteum Holdings, Inc. stated, “I believe it’s very important to keep our shareholders informed on the progress we are making in all areas, and the much more focused approach the company is now taking with respect to the financial effectiveness of our programs.”

About Consorteum Holdings, Inc.

The Company provides pioneering technology solutions and management expertise to companies and organizations looking to develop, streamline or augment their methods of processing payment transactions. It operates as a technology and services aggregator to meet the diverse needs of its client base by leveraging its wide range ranging partner technologies to develop end-to-end, turn-key card and payment transaction processing solutions. The Company has accumulated extensive expertise within the Payments and Transaction Industry in North America, Europe, and internationally. CHI has built its reputation with one goal, “For our customers to look at us as partners, not just a technology provider.”

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Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements. We caution that words used in this document such as “expects,” “anticipates,” “believes,” “may,” and “optimistic,” as well as similar words and expressions used herein, identify and refer to statements describing events that may or may not occur in the future. These forward-looking statements and the matters to which they refer are subject to considerable uncertainty that may cause actual results to be materially different from those described herein. There are numerous factors that could cause actual results to be different than those anticipated or predicted by us, including: (i) a deterioration in economic conditions in general; (ii) a decrease in demand for our products or services in particular; (iii) our loss of a key employee or employees; (iv) regulatory changes, including further changes in the area of credit card regulation or implementation of new regulations in furtherance of the new legislation that may have an adverse affect on the demand for our products or services; (v) increases in our operating expenses resulting from increased costs of labor and/or consulting services; (vi) our inability to exploit existing or secure additional sources of revenues or capital to fund operations; (vii) a failure to collect upon or otherwise secure the benefits of existing contractual commitments with third parties, including our customers; and (viii) other factors and risks identified in our SEC filings. This list provides examples of factors that could affect the results described by forward-looking statements contained in this press release; however, this list is not exhaustive and many other factors could impact our business and it is impossible to predict with any accuracy which factors could result in negative impacts.

Consorteum Holdings, Inc.
141 Adelaide Street West, Suite 550
Toronto, Ontario, Canada
M5H 3L5

[email protected]
Telephone: +1 877-414-2774