(CORRECTION) Sack Lunch Productions, Inc. (OTC: SAKL) Proceeding To Definitive Agreement on Acquisition of Stake in Arowana Media Holdings

Rhea-AI Summary

Sack Lunch Productions (OTC PINK: SAKL) announced plans to acquire a 45% minority interest in Arowana Media Holdings to access its intellectual property, including films and books. The acquisition is expected to close within 45 days. Notably, Arowana will engage Joey Clarke Jr. to adapt the bestselling novel Wish into a feature film. The intellectual property licensing industry is projected to grow by 9.1% in 2022, reaching over $58 billion. Arowana is also raising up to $1,070,000 in working capital to further develop its media assets.

Positive

• Acquisition of 45% interest in Arowana Media increases access to valuable intellectual property.
• Engagement of renowned screenwriter Joey Clarke Jr. for adaptation of a bestselling novel may enhance production value.
• Potential growth in the intellectual property licensing industry projected at 9.1% in 2022.

Negative

• None.

Arowana Media Taps Joey Clarke Jr. to adapt Wish for the big screen

SALT LAKE CITY, UTAH, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Sack Lunch Productions, Inc. (OTC PINK: SAKL), an action-oriented events and entertainment company.  Arowana Media Holdings Inc., is a multimedia acquisitions and development company in which Sack Lunch intends to acquire a 45% minority interest to gain access to Arowana’s Intellectual property (IP) consisting of film, book and legacy entertainment titles (https://www.ArowanaMedia.com), which both companies hope to close within the next 45 days.

In the interim, Mark Newbauer, CEO of Arowana Media, continues to move forward and has reached an agreement in principle to retain Nicholl Fellowship recipient Joey Clarke Jr. to adapt one of Arowana’s properties, Barbara O’Connor’s former New York Times bestseller “Wish”, into a full-length feature film.

Since MacMillan published Wish in 2016, the novel has remained among the Top 10 New York Times bestselling middle-grade paperbacks.

The novel is about a girl who unexpectedly learns the true meaning of family in the least likely of places, with the help of a friend, her aunt and uncle, and the dog of her dreams.

IBISworld recently reported that the intellectual property licensing industry is expected to increase 9.1% in 2022 increasing in value to over $58 billion.

Arowana currently has an effective Registration Statement filed under Regulation CF to raise up to $1,070,000 in working capital - https://arowanamedia.com/invest/ - which it intends to use for additional purchases of “legacy” IP and development costs of its current properties.

About Sack Lunch Productions, Inc.

Sack Lunch Productions, Inc. (OTC PINK: SAKL), is an action-oriented events and entertainment company which, historically, has provided events aimed at bringing families, friends, and communities together through the licensing of its event titles and trademarked media, together with corporate hosted and managed events across the U.S. and Canada. The Company has developed a large and diverse base of over 2,000,000 social media followers who participate in local venues and follow the Company’s licensee-hosted and Company-hosted events and broadcasts. The Company holds trademarks and rights to operate several events which include: The Dirty Dash, Color Me Rad, Slide the City, Trike Riot and The Lantern Fest: www.colormerad.com and www.dirtydash.com.

About Arowana Media Holdings

Arowana Media Holdings, Inc. (https://www.ArowanaMedia.com) is an media intellectual property acquisition and development company with a portfolio of media titles, focused on utilizing its current and other targeted media IP to be acquired, incubated and ultimately produced and released in the global entertainment marketplace in the form of streaming film and television broadcasting, published content, and AR/VR.

CONTACT:             

Richard Surber
Sack Lunch Productions Inc.
hunconsult@aol.com

or

Mark Newbauer
Arowana Media Holdings Inc.
mark.b.newbauer@gmail.com

Attachments

• Arowana Media Taps Joey Clarke Jr. to adapt Wish for the big screen
• Arowana Media Taps Joey Clarke Jr. to adapt Wish for the big screen

FAQ

What does Sack Lunch Productions plan to acquire from Arowana Media?

Sack Lunch Productions intends to acquire a 45% minority interest in Arowana Media Holdings to gain access to its intellectual property, including films and books.

Who is adapting the novel 'Wish' for the film?

Joey Clarke Jr. has been retained to adapt Barbara O’Connor’s novel 'Wish' for the big screen.

What is the expected growth rate of the intellectual property licensing industry?

The intellectual property licensing industry is expected to grow by 9.1% in 2022, reaching a value of over $58 billion.

How much capital is Arowana Media looking to raise?

Arowana Media is looking to raise up to $1,070,000 in working capital for purchases and development of its media properties.