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Update on Target Development Group Corporate and Financial Matters
Apr 7, 2010 2:19:00 PM


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Email story | Discuss on ZenoBank | View more ads NEW YORK, NY -- (MARKET WIRE) -- 04/07/10 -- Target Development Group, Inc., the parent company of media distributor Hannover House, (PINKSHEETS: TDGI) (Other: www.HannoverHouse.com), released news today of recent corporate filings and other operational matters as part of the company's policy of maintaining maximum disclosure or all relevant activities to its shareholders.

On the corporate front, in response to a directive from the Target board of directors, the company's Articles of Incorporation with the State of Wyoming have been amended to reduce the total quantity of Authorized Shares from the previous sum of ten-billion, to the adjusted sum of seven-hundred million shares. This move has now been properly received and recorded by the Wyoming Secretary of State. The Target board felt that the previously high share authorization level may have suggested the prospect of a future issuance of shares in consideration of new financing, a strategy which the board has specifically prohibited. At present, financing arrangements have been secured to fund the company's immediate operational and releasing needs. Cash flow from the company's existing library and summer 2010 new release activities will be substantially reinvested into the acquisition and release of future titles, thus mitigating the company's need to issue new shares for capital.

On the operational front, in order to better handle the company's new release activities, key publicity agencies have been engaged and new support staff employees have been hired. Effective March 1, Susannah Patton has been hired as the Hannover House director of marketing and publicity. Lauren A. Sterling will be assisting with theatrical bookings, and Leigha Schilling will be providing marketing department support. All three will office out of the company's operating division, Hannover House in Springdale, Arkansas. Outside agencies engaged to assist with corporate and film release publicity are Los Angeles-based 42 West, New Jersey-based Smith Publicity and New York-based Falco Ink.

Current release materials are being designed by Mighty Creative Stuff, Oleum Rain Design and the Cimarron Group. Laboratories working on Hannover House projects include Fotokem, Deluxe Labs, Technicolor and Advanced Digital Media.

SAFE HARBOR STATEMENT

This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, which are intended to be covered by the safe harbors created thereby. Although the company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that these statements included in this press release will prove accurate.

For more information contact Susannah Patton at 479-751-4500 / email: [e-mail]

Eric Parkinson -- CEO
HANNOVER HOUSE
Office: 479-751-4500 / Direct: 818-481-5277
www.HannoverHouse.com