BURNLOUNGE APPOINTS NEW CEO

BURNLOUNGE APPOINTS NEW CEO

BurnLounge, the world’s first fan driven digital download community, announced today that it has accepted the resignation of Alex Arnold as the company’s chief executive officer and from its Board of Directors. At the same time the company is pleased to announce the appointment of Grant D. Johnson as CEO.

Co-founders Ryan Dadd and Stephen Murray nominated Grant Johnson and the board unanimously approved the nomination.

“This change in management is a first step towards a reinforced focus on building the entertainment company we’ve always envisioned,” said Stephen Murray, co-founder, president of entertainment and chief creative officer, BurnLounge. “We’re entering a critical growth period for the company and we believe we have the right team in place to fuel this next evolution of the business to benefit our employees, artists, partners, and independent retailers.”

As a current board member and investor, Johnson has a vested interest in the company and brings extensive investment experience and relationships within the entertainment arena. He has spent over 15 years in the investment world and is one of the founding managing partners of Benevolent Capital, a hedge fund specializing in investment of funds into both the public and private market. Johnson also owns legendary music label, Tomato Records. In his new role at the helm of BurnLounge Johnson is tasked with helping the company chart its next phase of growth and build investment.

“Grant coming on board is a great indication of our investors’ support and reinforces the capital commitment behind the company,” said Ryan Dadd, co-founder, president and chief operating officer, BurnLounge. “Grant is absolutely the right addition to our team and will only strengthen our position and ability to expand this entertainment company into new markets.”

About BurnLounge

BurnLounge is the first fully functioning network of socialization and sales, combining digital downloading, community building and personal entrepreneurialism in one place, for the first time ever. Through this innovative model, BurnLounge provides entrepreneurs, artists, movie moguls and music lovers with a new recommendation-driven promotional channel. For additional information, please visit http://www.BurnLounge.com.
Contacts

Blanc & Otus Public Relations, for BurnLounge
Suzi Lambourne, 415-856-5125
slambourne {at} blancandotus(.)com