Seven Arts Entertainment Announces Production Company Ownership Interest
Seven Arts Entertainment (OTC PINK: SAPX) announced the acquisition of a 7.5% stake in Los Angeles-based Picture Pro LLC. This strategic move aims to enhance the Company’s ability to raise capital for feature films, leveraging Picture Pro's extensive network in the film industry. Notably, the funding is expected to be non-dilutive for shareholders as it will be secured by film assets rather than Company stock. As the fiscal year-end approaches on June 30, 2022, Seven Arts anticipates a detailed shareholder update regarding future plans and ongoing projects.
- Acquisition of a 7.5% interest in Picture Pro LLC enhances capital-raising capabilities.
- Funding through Picture Pro is non-dilutive, protecting shareholder equity.
- Access to an extensive network of industry contacts for production projects.
- Anticipated shareholder updates post fiscal year-end on June 30, 2022.
- None.
ATLANTA, GA / ACCESSWIRE / June 16, 2022 / Seven Arts Entertainment Inc. (OTC PINK:SAPX), the "Company", is pleased to announce it has acquired a
Picture Pro's team has years of experience, with a primary focus on raising capital for feature films through third party financiers and executive producers. This access to funding will enable Seven Arts to produce larger features and be much more competitive in the film industry.
Funding obtained through Picture Pro would be non-dilutive to Seven Arts shareholders as all capital raised would be backed by film assets rather than Company stock. Their extensive network of industry contacts has already proven to be an asset to the Company.
Additionally, as Seven Arts' fiscal year end approaches on June 30th, the Company anticipates an extensive shareholder update for the year ahead as well as several updates on its existing projects.
Stated Seven Arts' CEO, Jason Black: "Following a recent self-imposed quiet period to focus on development, the Company is excited to again begin informing shareholders of our progress and our plans going forward."
Forward-Looking Statements:
This press release contains forward-looking statements. The words 'believe,' 'may,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'should,' 'plan,' 'could,' 'target,' 'potential,' 'is likely,' 'will,' 'expect' and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Contact:
info@sevenartsentertainment.com
Twitter: @SAPX_7arts
SOURCE: Seven Arts Entertainment, Inc.
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