Naples, FL, April 10, 2024 (GLOBE NEWSWIRE) -- Music Licensing Inc. (OTC: SONG) (OTC: SONG), in collaboration with the Jake P. Noch Family Office, LLC., has officially reached out to the Government of Jamaica through formal communication facilitated by their legal representatives, Transnational Matters PLLC, with Davy Karkason Esq. ACiarb on February 2024. This communication aims to initiate discussions regarding potential claims under the Bilateral Investment Treaty (BIT) between the United States and Jamaica.
The letter submitted to the Jamaican authorities signifies the commencement of a six-month "cooling-off" period, a prerequisite step outlined in the BIT. This period is designed to allow both parties the opportunity to explore amicable resolutions and avoid arbitration. It follows the procedure of the US-Jamaica BIT to initiate arbitration at the end of the 6-month cooling-off period.
The initiation of this process marks a significant step by Music Licensing Inc. (OTC: SONG) and the Jake P. Noch Family Office, LLC. in safeguarding their investments and ensuring that their rights under the BIT are fully respected. The team at Transnational Matters PLLC, with its extensive expertise in international law and investment treaties, is committed to representing its clients' interests throughout this negotiation phase.
Music Licensing Inc. (OTC: SONG) and the Jake P. Noch Family Office, LLC. remain hopeful that a constructive dialogue with the Government of Jamaica can lead to a mutually beneficial resolution. This approach reflects their commitment to maintaining a positive and cooperative relationship with the Jamaican government while also upholding the principles of fairness and justice that underpin international investment agreements.
Music Licensing Inc. (OTC: SONG) and the Jake P. Noch Family Office, LLC. ("Claimants") are prepared to proceed to Investment arbitration under ICSID should the parties not reach an agreement within the specified cooling-off period.
Further updates will be provided as discussions progress and more information becomes available.
About Music Licensing, Inc. (OTC: SONG) (ProMusicRights.com)
Music Licensing, Inc. (OTC: SONG) a diversified holding company, also known as Pro Music Rights, is the 5th public performance rights organization (PRO) to be formed in the United States. Its licensees include notable companies such as TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and many others. Pro Music Rights holds an estimated market share of 7.4% in the United States, representing over 2,500,000 works that feature notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBagg Yo, Larry June, Trae Pound, Sause Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Trauma Tone, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Chingy, Lil Gnar, 3OhBlack, Curren$y, Fall Out Boy, Money Man, Dej Loaf, Lil Uzi Vert, and countless others, as well as Artificial Intelligence (A.I.) Created Music. Additionally, Music Licensing, Inc. (OTC: SONG) owns royalty stakes in Listerine "Mouthwash" Antiseptic as well as musical works by artists such as Elton John, Lil Nas X, Miley Cyrus, Lil Wayne, XXXTentacion, Halsey, and numerous others.
Forward-Looking Statements:
This press release contains certain 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.
Non-Legal Advice Disclosure:
This press release does not constitute legal advice, and readers are advised to seek legal counsel for any legal matters or questions related to the content herein.
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This communication is intended solely for informational purposes and does not in any way imply or constitute a recommendation or solicitation for the purchase or sale of any securities, commodities, bonds, options, derivatives, or any other investment products. Any decisions related to investments should be made after thorough research and consultation with a qualified financial advisor or professional. We assume no liability for any actions taken or not taken based on the information provided in this communication
Contact: investors@ProMusicRights.com
SOURCE: Music Licensing, Inc.