Seven Arts Announces Funding for Two Dark Art Films
(firmenpresse) - LOS ANGELES, CA -- (Marketwire) -- 10/14/11 -- Seven Arts Entertainment Inc. (NASDAQ: SAPX) ("Seven Arts") announced today that it has closed an initial funding for two films to be produced by Dark Arts a division of Seven Arts' affiliate, Esplanade Pictures LLC ("Esplanade"). Esplanade will specialize in producing low-budget genre pictures in Louisiana, building on the strength and resources of its local Seven Arts' affiliate Seven Arts Pictures Louisiana LLC.
"Schism," is written by Adam Gierasch and his partner Jace Anderson and will be directed by Gierasch. Seven Arts has worked with Gierasch and Anderson previously on "Autopsy" and "Night of the Demons." Following "Schism," Dark Arts will start production on "Thicker," which is based on the short film and festival favorite of the same name. The feature will be directed by Terry Nemeroff and will star Leslie Zemeckis, Peter Facinelli, Guy Pearce and John Goodman.
Seven Arts is also in advanced discussions for discounting the tax credits available on both films from the State of Louisiana and with a bond company to provide a completion bond on both titles.
Peter Hoffman, CEO of Seven Arts, commented, "We are committed to Louisiana film production, which we think offers the best production incentives, crews and a favorable cost structure for independent-based motion pictures. We believe that both Schism and Thicker provide something for everyone, and will enjoy strong distribution through digital platforms aimed at a growing youth market."
Seven Arts Entertainment Inc. is the successor to Seven Arts Pictures Plc, which was founded in 2002 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production, and licensing of theatrical motion pictures for exhibition in domestic (i.e., the United States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of media, including home video and pay and free television.
Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from the anticipated.
Seven Arts Entertainment Inc. US contact:
Peter Hoffman
+1 323-372-3080
Seven Arts Entertainment Inc. UK contact:
Kate Hoffman
+44-203-006-8223
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Datum: 14.10.2011 - 07:30 Uhr
Sprache: Deutsch
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