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MEMI - - Press ReleaseSource: Viastar Holdings Inc.
Viastar Signs Letter of Intent with Miracle Entertainment
Thursday April 3, 11:01 am ET
LOS ANGELES--(BUSINESS WIRE)--April 3, 2003--David Dadon, chairman of Viastar Holdings Inc. (OTCBB:VISH - News; the "company") is pleased to make the following announcements:
Viastar Holdings Inc. has signed a letter of intent with First Miracle Entertainment Inc. (PinkSheets:MEMI - News) to acquire all issued and outstanding shares of First Miracle.
The deal is subject to majority shareholder approval, due diligence and the execution of a stock purchase agreement.
John Daly, executive producer (Platoon, The Last Emperor, Terminator) along with Academy Award winner Martin Landau (Best Supporting Actor, Ed Wood) will remain on the board of directors. Landau and Dadon have collaborated on two previous occasions. Landau recently executive-produced Dadon's "Jungle Juice," directed by Tony Vitale and starred in another Dadon feature "Very Mean Men," with Louise Fletcher, Ben Gazzarra, Charles Durning and Scott Baio.
Miracle Entertainment Inc. is a theatrical independent entertainment company dedicated to producing and distributing quality motion pictures for worldwide distribution. Miracle, a publicly traded company, was formed in 1999 and is headed by Daly. Daly has been associated with the production of an extensive slate of films during his entertainment career. His company's films have achieved 21 Oscar nominations, winning 13 Oscars and unprecedented back-to-back Best Picture Awards for "Platoon" and "The Last Emperor."
Viastar Holdings Inc. is a publicly-traded company that is acquiring portfolio companies in the media and entertainment industry as well as developing films and programming in house and through co-productions. With a steady focus on growth, leadership, and profitability, Viastar will be organized into business segments that will cover a broad range of services including movie production, film finance and distribution.
For information contact David Dadon tel: [phone] or 310/930-3000, e-mail: [e-mail] or Zee Batal tel: [phone], e-mail [e-mail]. The company's Web sites are www.viastarholdings.com. www.memimiracle.com.