Yahoo Finance Amcomri Entertainment Delivering On Growth Strategy
Provides Post-Cannes Update
VANCOUVER, British Columbia, June 27, 2022 (GLOBE NEWSWIRE) -- Amcomri Entertainment Inc. (“Amcomri” or the “Company”) (NEO: AMEN) (Frankfurt: 25YO) (OTC: AMNNF), a global producer and distributor of independent movies, TV series and documentaries, provided today a corporate update following its second quarter as a publicly traded company.
During the second quarter of 2022, Amcomri attended the world’s largest film market, Marché du Film—Cannes Film Festival; acquired the assets of Flame Media, a TV distribution and production company; strengthened its board of directors with the appointment of seasoned HR professional, Michelle Sangster; and listed on the OTC Stock Exchange in the U.S. under the ticker AMNNF.
Bringing its largest slate of home productions and library catalogue to the Marché du Film – Cannes Film Festival to date proved to be the highlight of the quarter. During two weeks at the world-renowned film festival and marketplace, the Company, through its wholly owned subsidiaries, achieved the following milestones:
101 Films International secured the worldwide distribution rights to Left Behind: Rise of the Antichrist.
Amcomri Productions, 101 Films International and Hollywood Classics showcased their extensive catalogues, highlighted by titles such as Left Behind: Rise of the Antichrist, The Gates, A Home for the Holidays, Christmas at the Holly Day Inn, and Dark Asset.
Amcomri Productions entered into a multi-picture production deal with Studio Atlantic, becoming an official financing partner for the Irish-based production company’s upcoming release slate. 101 Films International acquired the global distribution rights to the slate.
Amcomri Productions and 101 Films International, alongside Head Gear Films, announced the production of Diabolic, the latest Daniel J Phillips film and the first feature in a three-picture slate with SunJive Studios, Monster Pictures and Pictures in Paradise. Diabolic is financed by Amcomri Productions and Sunjive Studios with global distribution handled by 101 Films International.
101 Films secured the pre-buy acquisition of Blood for Dust (2022) starring Kit Harrington, which begins shooting in August 2022, with release in the UK in 2023/24. The deal was agreed between 101 Films and Highland. 101 Films also made the post-production acquisition of Fear the Night (2022) starring Maggie Q, to be released in the UK in Q1 2023.
“We went to Cannes brimming with excitement based on our most expansive new release slate ever and extensive film libraries,” said Robert Price, CEO of Amcomri. “The response from partners was exceptionally strong and validates our growth strategy.”
Another key achievement in the second quarter was the acquisition of the assets of Flame Media, a UK and Australian based global distributor of factual and documentary TV content, for total consideration of approximately C$3.0 million. This latest deal boosted Amcomri’s TV content library to over 4,500 hours of TV programming.
“Our fast start as a public company continued in the second quarter, demonstrating the progress we’re making in all areas of the business,” Mr. Price added. “We enjoyed remarkable success at Cannes, acquired exceptional TV content and libraries, and added depth to our Board. What a great start for our organization. I commend all Amcomri team members for their efforts in delivering these accomplishments.”
About Amcomri Entertainment Inc.
Amcomri Entertainment Inc. (NEO: AMEN) (Frankfurt: 25YO) (OTC: AMNNF) provides global distribution capabilities for independent movie, documentary and TV series producers as well as for its own in-house productions. With decades of experience across all key media platforms, Amcomri is rapidly becoming the go-to team for independent producers seeking the broadest possible audience for their productions. The Amcomri Entertainment Inc. group of companies includes 101 Films, 101 Films International, Hollywood Classics International, Amcomri Productions, Appreciated Media Global, Amcomri Productions and Abacus Media Rights.
For further information about Amcomri, see its disclosure documents on SEDAR at www.sedar.com or visit the company’s website at www.amcomrientertainmentinc.com.
Contact Information
Larry Howard
Amcomri, Chief Financial Officer
Email: larry.howard@amcomri.com
Phone: +353-87-686-8255
Pierre Boucher
MBC Capital Markets Advisors, President
Email: pierre@maisonbrison.com
Phone: 514-731-0000
Forward-Looking Statements
This press release contains statements which constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Company’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law. Investors are cautioned that, trading in the securities of the Company should be considered highly speculative. For a more detailed discussion such risks and uncertainties, please see the section entitled “Risk Factors” in the Company’s annual information form dated for March 28, 2022 and available under the Company’s profile on SEDAR at www.sedar.com.
