Color Star's Partner Team Villarreal CF Prepares For Europa League Qualification Fight Following Champions League Exit

NEW YORK, May 5, 2022 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq: CSCW) ("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 their partner team, Villarreal CF (hereafter referred to as "Villarreal" or "Yellow Submarine"), has unfortunately had their Champions League campaign put to an end by Liverpool FC, after being defeated by 3:2 in the semi-finals. Despite the defeat, the Yellow Submarine has received high praise from fans all over the world for their incredible undying spirit and the many moments of excitement that they have delivered throughout the tournament. And as for their future battles and encounters, Color Star will undoubtedly continue to travel with the team and join their fans to offer their unequivocal support from the stands.

This Champions League campaign has been Villarreal's most prolific since reaching the semi-finals back in 2006. Even though the match ended in defeat, the players displayed impressive skills and abilities against Liverpool. After the match, Italian star Tacchinardi said to the media: "Villarreal came really close and defied the odds. Now ends a wonderful fairy tale of a group of players that had the determination to attack a spectacular team, also with quality in their game. The match was exciting and left us with many great moments". For Villarreal, the new priority now is to prepare to qualify for the UEFA Europa League. It is understood that Villarreal will face Sevilla on May 8, 2022.

As Villarreal's global partner, Color Star also sends their congratulations to Villarreal. Color Star CEO Lucas Capetian expresses: "We are close partners with Villarreal CF. Having watched every one of their matches in the Champions League so far, I can confidently say that their team has not let us and their fans down, especially with their numerous surprise victories. On one hand, the fame and interest they generated throughout this tournament greatly benefitted our brand awareness. On the other hand, they have convincingly proved to us that the team we chose to partner with is in fact a very strong team. I am now even more confident in our relationship down the line."

Color Star and Villarreal CF officially entered a global partnership this year and both sides will make use of their respective advantages and assets for mutual benefit and to produce a win-win outcome. Both sides will jointly develop new soccer projects, not only to help the team to grow stronger, but to also expand the "Internet+" soccer segment on Color Star's Color World metaverse platform. On the other hand, Color Star will also attract more top teams and stars to its platform to bring more interactive experiences to our members. As a NASDAQ listed company, Color Star will continue to integrate high-tech online and offline content, which has been well received by its partners and provides good support for the Company's profitability.

About Color Star Technology Co., Ltd.

Color Star Technology Co., Ltd. (Nasdaq: CSCW) 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 China Entertainment 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.

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 CSCW 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.

SOURCE Color Star Technology Co., Ltd.