TDGI NEWS --
NEW YORK, May 19, 2010 (BUSINESS WIRE) -- Encouraged by support from film
critics and major theatre chains, four upcoming theatrical titles from Hannover
House will see a significant expansion of their rel ease plans, reports C.E.O.
Eric Parkinson.
"Racing Dreams," the acclaimed, award-winning documentary from Academy Award
nominated director Marshall Curry premiered last night in Charlotte, NC to an
enthusiastic, standing-room-only audience at the EpiCentre Theatre, followed by
a Best Buy sponsored reception at the new, $200-million dollar NASCAR Hall of
Fame. Hannover's original theatrical plans for the film called for a limited
release in 4 key markets. However, following the film's screening to theatre
chains at ShoWest, Hannover expanded the release to 35 prints in 11 markets
beginning this Friday. By June 18, the Hannover expansion should reach over 150
theaters in 45 markets nationwide.
"It's turning into a much larger release than any of us anticipated," said
Parkinson. "There's so much enthusiasm that some theatres will be holding
midnight screenings on Thursday night to get a jump start on the weekend."
Other thea trical titles from Hannover House, including Joel Schumacher's
star-studded "Twelve," as well as the Sundance Audience Award Winner,
"HappyThankYouMorePlease" and the action-adventure, "The Wild Hunt," will also
benefit from expanded theatrical release plans.
"The exhibitors are responding very positively to our titles," continued
Parkinson. "The quality is there, and the marketing support materials are
proving to be extremely effective. We plan to make the most of the summer
theatrical market, to maximize our box office performance and to set the stage
for strong revenues from video and ancillary income streams."
In addition to the four, previously announced theatrical titles, Hannover House
will be announcing two new releases for this fall, and is currently seeking
additional acquisitions at the Cannes Film Festival. The expanded release plans
and additional new titles are expected to accelerate Hannover's revenues and
growth during 2010.
Corporately, parent company Target Development Group, Inc. is exploring
opportunities that could accelerate the company's move off the Pinksheets and
onto the Bulletin Board or American Stock Exchange. A 2009 year-end audit is
underway with Hogan Taylor, LLP, the completion for which will open new
corporate options, including beneficial merger structures.
"Our 3-to-5 year plan now seems obtainable in only 1-to-3 years," said
Parkinson.
Hannover House is the entertainment and media distribution division of Target
Development Group, Inc. (Pinksheets: TDGI) (Other: www.HannoverHouse.com)
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 theforward-looking statements contained herein are reasonable, there can be no
assurance that these statements included in this press release will prove
accurate.
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