Fearless Films Adds Significant New Script to Library

Rhea-AI Summary

Fearless Films, Inc. (OTC PINK:FERL) announced the acquisition of the film script Young Gangsters of America in an all-stock transaction valued between $3 million and $6 million. The script, developed by CEO Victor Altomare, adds to the company's intellectual property portfolio, which includes The Great Chameleon, The Lunatic, and others. This acquisition aligns with the company's strategy to enhance its asset base with high-quality films. The transaction is expected to close within three weeks pending valuation and Board approval.

Positive

• Acquisition of a significant film script potentially valued between $3 million and $6 million.
• Enhances the company's portfolio, adding to existing intellectual properties.
• Aligns with the company's strategy for growth and ongoing film production.

Negative

• Transaction relies on successful Board approval and final valuation, introducing uncertainty.
• The all-stock deal may impact share structure and investor perceptions.

TORONTO, ON / ACCESSWIRE / June 24, 2021 / Fearless Films, Inc. ("Company")(OTC PINK:FERL) is pleased to announce that it has completed an agreement to acquire the film script Young Gangsters of America, a major addition to the company's growing portfolio of films and intellectual property.

The script for Young Gangsters of America, a feature film was developed by Victor Altomare, the founder and CEO of Fearless Films. Mr. Altomare was the writer, lead actor and producer of the film The Great Chameleon released in 2012 among other films.

Young Gangsters of America tells the story of revenge visited upon the descendants of a former mobster, who left organized crime to give his family a middle-class lifestyle.

The Company has agreed to acquire the script in an all-stock transaction. The final purchase price is expected to be between $3 million and $6 million; the Company will issue Series A Preferred Shares for the purchase. The transaction is expected to close within three weeks following final valuation confirmation and approvals by the Board of Directors.

The script will join The Great Chameleon, The Lunatic, Dead Bounty and Only Minutes as part of the Company's growing intellectual property library and complements the company's strategy of building an asset base of high-quality films and future projects.

Victor Altomare, CEO of the wholly-owned operating division, founder and creative lead for Fearless Films Inc. stated "Fearless Films is about high-quality productions and entertainment. The script for Young Gangsters of America has been in development for many years. Now that it is ready for production, we want to add this to the asset base of the Company and work with our production partners to bring it to fruition. This underscores our company plan to have a steady stream of projects ready for development."

About Fearless Films, Inc.

Fearless Films, Inc. is an independent full-service production Company founded by award-winning actor/ producer Victor Altomare along with award-winning writer and director Goran Kalezic. The service scope specializes in short film and feature film production in addition to script writing, copywriting, fulfillment and distribution.

The Company trades on the OTC Pink tier of the OTC market. Investors can find stock price quotes and market Information for the Company on: http://www.otcmarkets.com/

Visit us at: www.fearlessent.com

Forward-Looking Statements:
This press release may contain 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of film development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; uncertainties relating to audience acceptance of our entertainment products, our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of our business development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

CONTACT:
Investor Relations
888 928-0184
info.fearlessent@gmail.com

SOURCE: Fearless Films, Inc.

View source version on accesswire.com:
https://www.accesswire.com/652902/Fearless-Films-Adds-Significant-New-Script-to-Library

FAQ

What is the acquisition announced by Fearless Films on June 24, 2021?

Fearless Films announced it has acquired the film script Young Gangsters of America in an all-stock transaction.

What is the estimated value of the script acquisition by Fearless Films?

The acquisition is valued between $3 million and $6 million.

Who developed the script for Young Gangsters of America?

The script was developed by Victor Altomare, CEO of Fearless Films.

How does the acquisition of Young Gangsters of America affect Fearless Films' strategy?

It enhances their portfolio of intellectual properties and aligns with their strategy for growth in film production.