CHEYENNE, WY / ACCESSWIRE / September 23, 2021 / Seven Arts Entertainment Inc. (OTC PINK:SAPX), the "Company", is pleased to announce the Company has secured immediate funding for future projects.
Under the terms of the agreement, the lender has committed a $1.5 million credit line to the Company, available in tranches upon request, over the next 6 months. The funding is intended to be non-dilutive and re-paid through partial revenue and royalties from upcoming projects funded with the proceeds.
Through previous management's assistance, the Company has already identified several feature films slated for development with which Seven Arts can participate in production.
Additionally, through Seven Arts Music's A&R rep, Thom Hazaert, the Company has identified several prominent music artists searching for new label representation which are under negotiation currently.
The Company believes there will be finalized announcements shortly on both its film and music ventures.
Stated Seven Arts' CEO, Jason Black: "Having secured our first substantial amount of funding is going to significantly help jumpstart the Company toward realizing it's former glory. We volunteered a very small window of time to draw on the funding obligation because we're confident deals are going to close fast. The company has a very specific game plan for re-building the Seven Arts brand and catalog. We're aware some SAPX investors will see the potential now while others may not be satisfied until they see major features and artists announced shortly. Either way, we are well on track to doing so and I look forward to those announcements and, by extension, increasing shareholder value."
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.
SOURCE: Seven Arts Entertainment, Inc.
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