Superior Venture Corp. Subsidiary, Ilustrato Pictures Signs New $8 Million Production Deal With China-Based Film Group
Nov 29, 2012 16:25:27 (ET)
LONDON, England, Nov 29, 2012 (GlobeNewswire via COMTEX) -- via PRWEB - Superior Venture Corp. ("Superior" or "the Company") (otcqb:SVEN) through its wholly owned subsidiary Ilustrato Pictures Ltd. ("Ilustrato"), has signed a feature film development deal for domestic motion picture co-production with Beijing-based Hairun Pictures with a total budget value of USD $8 million.
The feature film Stuck is a domestic Chinese drama set in a traffic jam in Northern China that is designed primarily for distribution to the domestic Chinese market. The second feature, Disoriented, is an English language crime thriller based on a true story set in North America. The two films are expected to go into production in 2013.
Brian Hammond, Company President and CEO of Superior Venture Corp. states, "Our development deal with Hairun Pictures gives us the opportunity to add a significant base to our Chinese domestic film roster. Both of the films will involve the writing and development assets that our subsidiary, Ilustrato Pictures brings to the table. They also follow the formula we are establishing for Chinese content films distributed to domestic Chinese box offices, which are largely integrated vertically through the production studios in China. It's a unique pairing that gives both of our companies a distinct strategic advantage."
"There are very few film companies tapping into the Chinese film market in this way, so we hope to capture a lion's share of the business through these early strategic partnerships," Mr. Hammond adds.
Hairun Pictures is a Beijing-based film and TV company with over 800 episodes of Chinese television drama and domestic Chinese film productions per year.
About Superior Venture Corp.
Superior Venture Corp. is a US based public company. Its wholly owned subsidiary, Ilustrato Pictures Ltd. is an international motion picture development and production company seeking to co-create feature film projects with Chinese film companies. All of its projects are financed, produced and distributed in partnership with domestic Chinese companies. Ilustrato Pictures has developed extensive infrastructure and distribution networks in China --the fastest growing and most dynamic movie market in the world.
For more information see http://www.superiorventurecorp.com
Contact: Investor Relations Tel: +44 (0) 207 543 7720
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