ATLANTA, GA / ACCESSWIRE / June 16, 2022 / Seven Arts Entertainment Inc. (OTC PINK:SAPX), the “Company”, is pleased to announce it has acquired a 7.5% interest in a Los Angeles based production company, Picture Pro LLC.
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.”
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.
SOURCE: Seven Arts Entertainment, Inc.
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