American Marconi Wireless News - Seven Arts Entertainment Inc. Announces Intent to Acquire New Subsidiary

The incoming business specializes in boutique marketing, branding and print material for established talent, with a robust client roster, in the film and music industries. While currently producing significant revenue, the Company believes adding the business to operate in conjunction with its existing subsidiaries, Seven Arts Music, and Muse Media, will accelerate the target company's revenue projections to exceed $5 million over the next 2 years.

The terms of the acquisition have been structured with a combination of cash and preferred stock and will not require the issuance of additional common stock or incur convertible debt leading to the issuance of additional common stock. The parties believe a Final Agreement will be announced on or about August 1st, at which time more specifics will be fully disclosed.

Stated Seven Arts CEO, Jason Black: "We're very pleased for the Company and its shareholders to be closing on this deal. There are a number of synergies involved in this acquisition that will bring us much closer to our long-term goals. We're also pleased to report that all of the Company's additional endeavors are progressing in a timely manner and further updates will be released shortly on those as well."

About: Seven Arts Entertainment Inc. is a media and entertainment company developing a diverse portfolio of intellectual properties in the film and music industries.

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: [email protected]

X: @SAPX_7arts

SOURCE: Seven Arts Entertainment, Inc.

View the original press release on ACCESS Newswire

Y.Aukaiv--AMWN