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Friday, June 21, 2024 2:29:45 PM
Seven Arts Entertainment Inc. Announces Multi-Million Dollar Revenue, Merger and Up-List Developments
Staff Report From Georgia CEO
Thursday, April 11th, 2024
Seven Arts Entertainment Inc. (OTC PINK:SAPX), the "Company", a film and music production company, is pleased to announce the following updates:
As Seven Arts approaches the end of its fiscal year, management is pleased that the Company has strategically positioned itself for significant, immediate and long-term success. Recently the Company entered into an amended Agreement with Lionsgate Entertainment, for approximately $8mm USD of the Company's filmed assets. https://www.otcmarkets.com/filing/html?id=17415631&guid=yzQ-kHlLxd1joVh
In addition to this preliminary Agreement, Seven Arts and representatives of Lionsgate have initiated discussions to further develop assets, with a particular focus on the burgeoning Atlanta, GA market, which has been home to Seven Arts since 2021. Currently, Lionsgate is undergoing a restructuring, with an emphasis on its Atlanta studios endeavors, which is expected to generate an additional trading symbol. The Company has agreed to withhold efforts to pursue joint news releases until such time that Lionsgate completes this transition.
LIONSGATE STUDIOS TO LAUNCH AS A SEPARATELY TRADED PUBLIC COMPANY (yahoo.com)
Pursuant to ongoing merger negotiations, which requires the Company to provide audited financial statements, management has determined it is in the best interest of Seven Arts and its shareholders to expedite these expectations and rapidly execute on its previously announced intent to up-list to full SEC reporting. To that end, the Company is actively working with its audit firm.
In management's efforts to restore the Company to its previous industry standing, Seven Arts continues to pursue new assets, revenue streams and negotiations with several major studios. Further third-party Agreements, worth in excess of $15mm USD are expected to be announced in the coming days. After a period of turbulence, nearly three years of focused commitment are yielding positive outcomes at a continually increasing rate for the Company and its shareholders. As an abundance of new opportunities continue to avail themselves, Seven Arts has been able to negotiate for nearly a year, that there would be no new increases to its outstanding shares. The Company will continue to pursue maintaining its capital structure and shareholder value as it embarks on this era of rapid growth.
Going forward and in keeping pace with the abundance of Company developments, Seven Arts will be providing regular updates through filings, press releases, shareholder conference calls, and podcasts. Management has resolved that routine communications and proactive investor relations will be paramount to the Company's future success.
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