Arizona Tribune - Seven Arts Entertainment Inc. Breaks Silence and Announces Multi-Million Revenue Deals

Recently Seven Arts has partnered with Crusher Films, to co-produce a live action franchise starring WWE wrestler and professional strongman, Adam Scherr. Crusher Films is headed by Max Zell who has been a producer across film, television and sports entertainment. Zell's credits include the sci-fi film "Code 8", documentaries such as "Ghostheads" and "RoboDoc: The Creation of RoboCop". Alongside Zell's mentor, Cary Woods of Independent Pictures, Zell helped develop Apple TV's first unscripted series, "Home". Under Independent Pictures Zell also helped produce "Scream", "Godzilla", "Rudy", and "So I Married an Axe Murderer".

Although specific details surrounding the project remain temporarily under NDA, both Seven Arts, Crusher and additional partners intend to produce the film and its sequel in simultaneously as well as develop a host of other licensable properties around the franchise, such action figures, video games, and a restaurant chain.

Crusher has begun raising up to $50 million USD toward the project, whereby Seven Arts will be directly allocated proceeds to provide access to Atlanta area locations, personnel, develop a soundtrack through director, Thom Hazaert, and allow access to Georgia's film industry tax credits among other additional roles. No part of this partnership shall require Seven Arts to issue new debt or Company stock. The Company will provide further detailed information on the project within the next month.

Approximately a year ago the Company, through its "X" social media account, made several announcements regarding an Agreement with Lionsgate Films. During this time Lionsgate had also embarked on a significant restructuring that was outside of the scope of Seven Arts. The Company was encouraged not to make any formal announcements ahead of Lionsgate as to not unintentionally mislead Lionsgate shareholders. As a result of Lionsgate's changes, the Seven Arts Output Agreement was assigned to Starz during its spinout as an independent entity. The Agreement, now through Starz, remains in effect. Seven Arts is currently in the process of leveraging this relationship with regard to the Adam Scherr/Crusher Films project.

In addition to these developments, Seven Arts has recently entered into a Letter of Intent to acquire an additional subsidiary. The target company, which generates significant revenue, is focused on marketing and branding on behalf of a large roster of entertainment industry clients in both music and film. The acquisition, which is expected to close within the next two weeks, is being executed through a combination of cash and preferred stock. There will be no convertible debt or common stock issued in conjunction with the Agreement. Further details will be announced in the days to come.

Finally, the Company's board of directors has approved the appointment of an additional independent board to objectively oversee the long-term health of Seven Arts. The first independent board member, which is expected to be announced next week, is a dynamic international business consultant and turnaround specialist, known for his deep expertise across real estate, oil and gas, and tribal governance as a proud native of Chickasaw and Choctaw descent.

His family owns one of the largest turnaround management firms, specializing in receivership's, court-appointed oversight, forensic accounting, fraud investigation, and tribal governance. The company currently manages hundreds of millions of dollars in assets across various industries.

With a proven track record of success and a diverse range of expertise, as an independent board member, he is committed to helping Seven Arts navigate complex challenges and achieve sustainable growth.

Stated Max Zell of Crusher Films: "We're extremely excited to be working with Seven Arts on a project that we believe will be wildly successful and take the film industry by storm."

Stated Seven Arts director, Thom Hazaert: "As Adam Scherr and I are both natives to Wisconsin, we immediately hit it off and I couldn't be more pleased to play a small part in helping bring his vision for this film to life."

Stated Seven Arts CEO, Jason Black: Despite a quiet period of Company announcements, shareholders can be assured we have been actively working behind the scenes to bring significant value to Seven Arts. I am hyper focused on executing strong revenue deals for the Company and showing the market how obscenely undervalued we are. Announcements will be going from zero to a hundred over the next several weeks as we unveil the specifics of what we're developing.

About: Seven Arts Entertainment Inc. is a media and entertainment company developing a diverse portfolio of intellectual properties in the film and music industries.

Forward-Looking Statements:

This press release contains forward-looking statements. The words 'believe,' 'may,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'should,' 'plan,' 'could,' 'target,' 'potential,' 'is likely,' 'will,' 'expect' and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Contact:

[email protected]

X: @SAPX_7arts

SOURCE: Seven Arts Entertainment, Inc.

View the original press release on ACCESS Newswire

D.Johnson--AT