NEWS OUT; Business Editors
ATLANTA--(BUSINESS WIRE)--May 17, 2006--
Silver Screen Studios, Inc. (OTCBB:SSSU),
www.silverscreenstudiogroup.com, is updating its restructuring
progress with details on its mergers and acquisition initiatives.
Merger and Acquisition Initiatives:
We are implementing our mergers and acquisition initiatives to
increase shareholder value by the formation of an investment
subsidiary, Global 1 Investment Corporation, which will be used to
fund and spin off companies that are seeking to gain a publicly
traded profile with a distribution of a portion of the retained
equity as a dividend to our shareholder base. Global 1 will be
capitalized via a stock swap equity infusion of capital, the details
which are currently being finalized. Once capitalized and operational,
a dividend will be declared and a pink sheet listing will be sought.
Entertainment Business Unit:
We have reached a tentative agreement with a joint venture partner
in the entertainment industry that we will finance and produce several
projects with. A joint venture agreement and letter of intent is being
negotiated and should be reached shortly.
