Exhibit 10.1


 





Loton,
Corp Enters into Letter of Intent to Sell its Interest in KOKO and for LiveXLive Subsidiary to Obtain Exclusive Digital
Streaming Rights for KOKO Events


 


LOS ANGELES,
September 11, 2015, Loton, Corp (OTC: LIVX ) has entered into a non-binding Letter of Intent to sell its 50% ownership interest
in KOKO, London’s iconic live music venue. As part of the proposed transaction, Loton’s wholly-owned subsidiary, LiveXLive,
a new live music streaming platform, shall enter into a three (3) year agreement for certain exclusive digital broadcast rights
of KOKO events. The proposed sale would strengthen the company’s balance sheet enabling flexibility with regards to future
transactions. Any sale would be subject to due diligence and definitive agreements and other approvals.


 


“We
are strategically positioning ourselves away from owning and operating venues toward the focus of securing rights, owning and
distributing digital content, and becoming a pure play digital company. LiveXLive plans to leverage the mobile device preference
of millions of millennial fans, creating the first independent global live music and lifestyle network delivered across all digital
platforms. The proposed digital broadcast rights agreement for KOKO events will represent a milestone in our development. We look
forward to announcing many other multiyear agreements with leading venues, festivals and content providers,” said Robert
Ellin, LiveXLive Founder and Chairman.


 


LiveXLive
is planning to launch this fall with the world’s first live music streaming platform. Currently, the company is in discussions
with content partners, venues and artists from around the world.


 


KOKO is
a premier multimedia and lifestyle brand and one of London’s iconic live music venues. KOKO is internationally renowned
for delivering over 250 live music events per annum for the past ten years and streaming live music to more than 300 million viewers
in 70 countries around the globe.


 


About
Loton, Corp (OTC: LIVX)


 


Loton, Corp
(LIVX.OB) is a parent company in the emerging live / digital music space. The company’s LiveXLive subsidiary intends to
be the world’s first premium live music streaming network that will deliver around the clock live music to viewers on any
connected device as an authentic and experiential platform. The platform plans to offer the world’s leading music festivals
with multiday and multistage coverage, unique concerts, intimate performances and cutting edge programming. We plan to extend
the live experience to fans on desktop, laptop, mobile, tablets, consoles, connected TVs and virtual reality platforms. The LiveXLive
network expects to provide compelling and curated content that showcases the entire spectrum of music to include music inspired
fashion, food, and lifestyle content and showcase interviews, backstage access and both fan and artist perspectives. LiveXLive
intends to feature all genres of music including rock, pop, indie, alternative, EDM, country and feature major festival headliners
as well as emerging artists performing at clubs and venues around the globe.


 



    	 



    	 



    




 


Forward
Looking Statement


 


Statements
in this news release concerning future results from operations, financial position, economic conditions, product releases and
any other statement that may be construed as a prediction of future performance or events are forward looking statements which
involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those
expressed or implied by such statements. These factors include uncertainties as to levels of orders, ability to record revenues,
release schedules, market acceptance of new products, changes in economic conditions and market demand, pricing and other activities
by competitors, and other risks including those described from time to time in the Company’s filings on Forms 10-K and 10-Q
with the Securities and Exchange Commission, press releases and other communications.


 


Business
& Media Inquiries: Robert Ellin // Rob@livexlive.com