Circa Pict. & Prod. Co. Intnl Inc. (fka CPPD)

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TRIANGLE MULTIMEDIA INC. (TMM) and CINEMAX PICTURES & PRODUCTION COMPANY, INTL. (CANADA) ANNOUNCE A CORRECTION AND UPDATE TO A PREVIOUS STATEMENT REGARDING THEIR UPCOMING MERGER.

(M2 PRESSWIRE via COMTEX)
Filed jointly on June 27, 2007
Woodlawn Hills, CA and Mississauga, Ontario Canada

Constantine A Papadopoulos, CEO of Cinemax Pictures and Production Company Intl. (Canada) and Lloyd Fan, CEO of Triangle MultiMedia (TMM/ QBID) jointly announced today a change in the original announcement regarding the upcoming merger between Cinemax Pictures and TMM.

According to Lloyd Fan; “All aspects regarding the merger between Cinemax Pictures and Production Company, International and Triangle Multi Media (TMM) that we originally announced in August of 2006, shall remain in effect and is indeed moving forward and according to schedule and plan.” Fan continued; “But after careful consideration, the management of both TMM and Cinemax Pictures has decided against incorporating the previously announced with Obion Group offer as part of the merger process. Therefore, Obion Group stock will not be distributed to shareholders as of now, and not until their business plan has reached fruition.”

In addition, Anthony Gouveia, CFO of TMM, added: “In the original press release and in subsequent shareholder updates, we stated that: TMM had signed an agreement with Obion Group to proceed to buy a shell company to reverse merge with. Following approval as a publicly traded holding company, Obion will put aside 25 billion authorized shares for TMM shareholders. Anthony J. Gouveia and Lloyd Fan will be Directors with an ownership interest in the Obion Group and all related businesses.” Gouveia continued: “We agreed it is probably not in the immediate best interest of all parties to proceed with Obion, but we fully plan to revisit this as an option at a later date.”

Gouveia and Fan will still retain their Board of Directors seats on The Obion Group.

About Cinemax Pictures & Production Company, International: The company is currently a Toronto, (Mississauga) Ontario, Canada privately held production entity and was incorporated in 2004 and is licensed by the Canadian Consumer and Relations Office, Business Registration Division. It is not associated with Time Warner. Cinemax Pictures & Production Company International has three distinct lines of business in the entertainment industry. First, Cinemax Pictures owns an ever increasing number of scripted and reality television shows that will be marketed to terrestrial and cable television networks and syndication companies in the USA and Canada. The company expects -- once licensed or purchased -– to start generating revenues for its television division via these productions.

Secondly, Cinemax Pictures currently is involved with fourteen (plus) movies in different stages of pre-production. The movies range from comedies to romance to action-thrillers. They will soon be adding a list of “slasher" films because of the following this genre has, and the resulting box office due to that strong following. And finally, due to the company’s relationships and contacts throughout the industry – in Canada, the United States, Europe and Austral-Asian markets (for both Television and Film) the company has the opportunity to provide bridge-financing (or "gap-funding" as it is referred to in the industry) to movies that go over their production budget. Cinemax Pictures will take a large percentage of the rights to the movies and will receive a return-on-investment once the movie has completed production and is sold to a distributor. Through continued development in TV and Film, the company has the long term intention to build up its library of content, the most lucrative part of any production company. Thus, their dual goal will be to create quality and interesting television that will appeal to diverse demographics -- and first rate theatrical entertainment with a certain class element they feel that Hollywood and the general public have a need for.

A warning regarding forward-looking statements
This press-release may contain forward-looking statements regarding future events or the future performance of Triangle Multi Media and / or Cinemax Pictures and Production Company International (the "Companies"). Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “may,” “will,” and variations of these words or similar expressions are intended to identify forward-looking statements. These statements speak only as of the date hereof.

Such information is subject to change, and we will not necessarily inform you of such changes. Actual events or results, of course, could differ materially and adversely from those expressed in any forward-looking statement. Among the important factors which could cause the Companies actual results to differ materially and adversely from such forward-looking statements are the intense competition in its industry and its need to stay on the forefront of development of business within its industry. As a private company, Cinemax stock is currently not listed on any United States stock exchange or market, and the Company does not currently make filings (e.g., Forms 10-K and 10-Q) with the Securities and Exchange Commission under the Securities Exchange Act of 1934. Triangle Multi Media (TMM) is currently listed on the pink sheets as QBID.


http://cinemaxpictures.com/news.html