Hannover House Inc (HHSE)

[jainshul]

NEWS

Target Board Evaluates Merger and Venture Opportunities
Date : 05/26/2010 @ 4:43PMs

The Board of Directors for Target Development Group, Inc. (Pinksheets: TDGI) (Other: www.HannoverHouse.com), announced today that they are reviewing and analyzing opportunities that will be designed to expedite the company’s planned move onto the Bulletin Board or American Stock Exchange, including the possibility of an asset sale structure and stock swap with an existing, fully-compliant Bulletin Board listed entity. The intention of such a move would be to provide enhanced value and liquidity for the existing Target shareholders as well as create a corporate structure better suited to accommodate and support the rapidly growing Hannover House entertainment division.

Hannover House, the publishing and media division of Target, has acquired six films for theatrical release in 2010, in addition to thirty titles slated for DVD and Blu-Ray release. The company anticipates rapid revenue growth over the next 24 months and feels that a move to the Bulletin Board or American Stock Exchanges would benefit the company and shareholders.

“There are a variety of paths available that could help the company mature into the next level of activity,” said Eric Parkinson, C.E.O. of both Hannover House and Target Development Group, Inc. “We are working with the auditors to determine the value of TDGI assets as we move towards fully compliant status with S.E.C. requirements. We are also reviewing merger or corporate acquisition opportunities. The goal is to identify and pursue the best course of action to deliver the greatest overall return for our shareholders.”

Upcoming theatrical releases for Hannover House include Joel Schumacher’s acclaimed drama, “TWELVE” starring Chace Crawford, Emma Roberts and Curtis ’50 Cent’ Jackson, and the Sundance Film Festival Audience Award Winner, “HappyThankYouMorePlease.” Hannover’s current theatrical release of “Racing Dreams” will be prominently featured over the Memorial Day weekend as a radio advertising sponsor of the Indianapolis 500 Race.

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