Medient Studios Appoints General Contractor for Studioplex
EFFINGHAM COUNTY, GA--(Marketwired - Mar 21, 2014) - Medient Studios (OTCQB: MDNT) announced today that Shore Development & Construction LLC has been appointed as the general contractor for the development and construction of the Medient Studioplex in Effingham County, Georgia. The project which will comprise four phases will include 2 million square feet of sound stages, offices, outdoor entertainment venues and onsite lodging and housing. The construction of the Studioplex will utilize the cutting edge TAG wall and roofing systems designed and manufactured by Titan Atlas in Charleston, South Carolina.
Medient Chairman, Manu Kumaran stated "We have considered some of the world's largest construction companies to build the Studioplex. TAG technology is green, represents a quantum leap in cost and time efficiencies in construction and is supremely robust -- capable of withstanding over 300mph winds, 9.1 Richter scale earthquakes and is entirely fire resistant. Overall, we expect utilizing the TAG systems to result in a 36% reduction in construction costs, and a 30% reduction in construction time. I am happy and proud to announce this association."
"We look forward to working with Manu and his team to create a truly sustainable live-work community," stated Jeremy Blackburn, President of Shore Development and Construction as well as CEO of Titan Atlas Global. He added "Medient has significant commitments from production and film companies from around the world, anxious to take advantage of not only the attractive film and entertainment business climate in Georgia, but in particular the Medient Studioplex, which will be the most technologically advanced Studio ever built."
About Medient Studios Medient Studios, Inc. (OTCQB: MDNT) ('Medient') (www.medient.com) is an entertainment content creation company with a strong presence in North America, Europe and India. Medient's management team has approximately 150 years of experience in the motion picture industry and is responsible for producing and/or financing over 250 movies. Medient is realigning the content creation process to enable efficiencies of scale and eliminate process waste by building a fully integrated movie and electronic game production facility as part of its Studioplex on a 1,550-acre property in Effingham County, Georgia. Once operational this production facility will be the largest of its kind in the United States.
Safe Harbor Statement The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.
Contact: Investor Relations:
David Waldman or Natalya Rudman Crescendo Communications, LLC Phone: +1 (212) 671-1020 Ext. 304 Email: mdnt@crescendo-ir.com http://www.crescendo-ir.com/
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