Thursday, May 14, 2015 10:16:16 AM
important, the first indication of a possible revenue stream.
"Mr. Joe Wowk President reports
LIONS GATE RELEASES "ABSOLUTION" STARRING STEVEN SEAGAL; PRODUCED BY TIM MARLOWE, GEONOVUS NOW ENTITLED TO SHARE POTENTIAL REVENUE
The new Steven Seagal movie Absolution will be the first of six feature films that GeoNovus Media Corp. (as part of the company's agreement with Infinity Media) will be entitled to share in the net revenues of. Produced by Tim Marlowe, Absolution, will be officially released and distributed by Lions Gate on May 15, 2015 in Theatres and On Demand.The Company's interest in the revenue of Absolution derives from a Production Revenue Participation Agreement (the "Participation Agreement") with Infinity Media and its principal, Academy Awardtrademark winning producer, Timothy Marlowe. In addition to his role with Infinity Media, Mr. Marlowe is a director of GeoNovus Media Corp. Under the terms of the Participation Agreement, the Company is entitled to receive five percent of the revenue earned by Infinity Media from "Absolution", and from five subsequent feature films from which Infinity Media is entitled to share revenue. The five subsequent films will be determined by Infinity Media pursuant to the terms of the Participation Agreement. In consideration for the acquisition of the participation rights under the Participation Agreement, the Company has agreed to issue up to 17 million shares from treasury to Infinity. There can be no assurance that "Absolution" or any of the other films which the Company will have an interest in under the Participation Agreement will generate revenues for Infinity Media and the Company.
"Absolution" will be released by Lions Gate Entertainment on May 15, 2015, in Theatres and On Demand. The film was produced by Steven Seagal, Timothy Marlowe, Binh Dang, and Phillip B. Goldfine. Tim Marlowe states: "We are thrilled that Lions Gate is set to release our film "Absolution" theatrically. This marks the beginning of our goal at GNM to follow in the footsteps of successful public media companies like Lions Gate. Working with such a popular actor like Steven Seagal was truly rewarding, and gives us the confidence to continue producing feature films that have predictable returns and serve loyal fans and niche movie buyers."The official Lion Gate release can be read here:
http://www.lionsgatepublicity.com/theatrical/absolution/Watch the trailer now!
Aside from my English teacher protesting the 'dangling participle' " net revenues of." this is great news.Of course, in an effort to be transparent, management states there may NOT be monies earned. But Segal movies are always winners. 16 million shares of GMN for participation in 6 full length feature films seems to be a bargain [FAMOUS LAST WORDS].
The roll out of news from management gives me some confidence that they have been planing these moves for quite some time as this first film must have taken many months to be completed.
I am still doing my DD [as I urge all investors do their own DD.] But I am becoming convinced that management is the real thing! I have checked with my contacts in LA and New York and Vancouver. They all say the management board and advisors are top notch individuals. Proven capable, creative and most important, realistic and business savvy.
Most shareholders of GNM are probably battered holders from the junior mining days. This is a NEW company with new managers implementing their plans for a media focussed winner. We shareholders must change our focus as well. The possibility of success is still to be proven. But the initial feel is very positive. Perhaps we have lucked out??
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