Quizam Acquires 10% Equity in New Motion Picture Distribution Company
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/20/15 -- Quizam Media Corporation ("Quizam" or "the Company") (TSX VENTURE: QQ), through its President Russ Rossi, today is pleased to announce that Quizam, through its wholly-owned US subsidiary Quizam Entertainment LLC, has finalized the agreement to acquired a 10% equity interest in Aviron Group, LLC, the holding company of Aviron Pictures, a new motion picture distribution company headquartered in Beverly Hills, California ("Aviron"). Aviron is managed by several Hollywood veterans and senior film studio executives who have hundreds of successful feature film releases to their credit.
The transaction is the successful conclusion of the Letter of Intent that the Company announced on June 22, 2015. Aviron provided notice that it has successfully satisfied the referenced milestones, with minor modifications that the Company believes improve the value of the transaction for both companies. The Quizam management has performed its own due diligence and is satisfied that the milestones have been met.
Rather than exchanging 15,000,000 Quizam Shares for 10% of Aviron Group, as originally contemplated, the Company is issuing 1 million Quizam Shares, plus 12,250,000 warrants to purchase 12,250,000 shares with an exercise price of $0.08 per share for a 10% non-dilutable equity interest in Aviron. Based on the current outstanding shares of Quizam Media the fully diluted position that Aviron will have in the Company as a result of this exchange will be less than 19.7%.
This transaction is at arm''s length and there are no finder''s fees payable. The transaction remains subject to the approval of the TSX-V.
About Quizam Media and Quizam Entertainment LLC
Quizam Entertainment is a wholly owned subsidiary Quizam Media. Quizam Entertainment is a producer, aggregator, marketer, distributor and broadcaster of movie entertainment -
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and nature of potential acquisitions, joint ventures, partnerships, business dealings and financings, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are cautioned not to place undue reliance on the forward-looking sttatements made in this Press Release.
Contacts:
Russ Rossi
(604) 683-0020
(604) 683-0646 (FAX)
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Datum: 20.10.2015 - 07:00 Uhr
Sprache: Deutsch
News-ID 1393409
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