Glenn Golenberg Joins the Board of Directors of ProElite
SANTA BARBARA, Calif. -- March 18, 2010
Stratus Media Group, Inc. (OTCBB: SMDI), a live entertainment company,
announced today that Glenn Golenberg has joined the board of directors of
ProElite, Inc. (Pink Sheets:PELE). Mr. Golenberg has been on the Board of
Directors at Stratus Media Group, Inc. since April 2009, where he also serves
as Chairman of the Audit Committee. As part of its acquisition of a 95% voting
interest in ProElite, Stratus assumed control of the board of directors and
management of ProElite on February 22, 2010.
Glenn Golenberg has been in the financial service industry since 1996 and has
been involved in transactions that have historically included mergers and
acquisitions, initial public offerings (IPOs), financial restructuring,
venture capital financings and leveraged buyouts (LBOs). Mr. Golenberg has
been a co-founder and Managing Director of Golenberg & Company, a merchant
banking firm. He is also Managing Director of The Bellwether Group, a merchant
bank which provides strategic and financial consulting services to
expansion-stage emerging technology and life-science related companies, as
well as general partner in University Equity Capital, a company involved in
life sciences with leading universities. In addition, Mr. Golenberg has been a
director of numerous publicly held companies in the past.
"I’m happy to join the board of directors of ProElite and to be a part of
rebuilding the company," said Glenn Golenberg. "There is a great team in place
and I believe that with our combined experience and skills we will be able to
make ProElite a profitable and driving force in the MMA world."
About Stratus Media Group, Inc.
Incorporated in November of 1998, Santa Barbara based-Stratus Media Group is
an owner, operator and marketer of live entertainment and sporting events. The
company is primarily focused on internal growth and acquisitions within the
live entertainment-related market -- including action sports, automotive
shows, college sports, food events, motor sports, music concerts and
festivals, running events, diversified media marketing, trade shows and
expositions, and talent management. In addition, the company intends to expand
its consumer rewards marketing and redemption activities through its Stratus
Rewards Visa White Card -- providing exclusive redemption benefits to its
cardholders in the form of VIP event access, luxury trips, private jet travel,
luxury automobiles, high-end merchandise and other rewards for specified
levels of use. For more information on Stratus Media Group, Inc., go to
www.stratusmediagroup.com by telephone (805) 884-9977.
About ProElite, Inc. (www.proelite.com)
Founded in 2006, ProElite still holds the record for highest ratings for a
major network telecast of a MMA event. ProElite also owns a web portal with
social networking for MMA fighters and fans and live streams of MMA bouts not
broadcast on television. ProElite, Inc. historically has delivered exciting
entertainment experiences in the world of mixed martial arts (MMA) with live
arena-based entertainment events, cable television programming on Showtime
Networks and community-driven interactive broadband entertainment via the
Internet. ProElite plans to deliver live MMA fight events that showcase the
world's top fighters internationally.
Forward Looking Statements
Statements in this press release relating to plans, strategies, economic
performance and trends, projections of results of specific activities or
investments, and other statements that are not descriptions of historical
facts may be forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking
information is inherently subject to risks and uncertainties, and actual
results could differ materially from those currently anticipated due to a
number of factors which include but are not limited to risk factors inherent
in doing business. Although the company's management believes that the
expectations reflected in the forward-looking statements are reasonable, it
cannot guarantee future results, levels of activity, performance or
achievements. The company has no obligation to update these forward-looking
Stratus Media Group, Inc.
Christine Kolenik, 805-884-9977
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