Signature Devices, Inc. Subsidiary 7th Level Entertainment Group Clinches Strategic Acquisition Financing for Events/Tours Deals with Yamani Pictures
Signature Devices, Inc. Subsidiary 7th Level Entertainment Group Clinches Strategic Acquisition Financing for Events/Tours Deals with Yamani Pictures
NEW YORK, Dec. 14 /PRNewswire-FirstCall/ -- 7th Level Entertainment Group-a wholly owned subsidiary of Signature Devices, Inc. (Other OTC: SDVI) in Redwood, CA.-announced today that it has secured a multi-pronged deal with Yamani Pictures which includes agreements for 7th Level to produce multiple tours and events surrounding the release of Yamani's feature film projects for 2010-2015. In addition to the agreements for tour and event production, Yamani Pictures has also entered into a deal to provide 7th level with a significant amount of strategic acquisition financing. The primary goal of the financing is to provide 7th Level with a financial vehicle to acquire entertainment based entities that are synergistic to both Yamani and 7th Level. While neither party has released information on the exact amount committed by Yamani, the anticipated contracts should yield in the 9 figure range.
R.J. Bucaria, Chief Executive Officer of 7th Level Entertainment Group, LLC. further elaborated on this remunerative agreement which was struck with Robert Yasin Wright, C.E.O. of Yamani Pictures, saying: "In addition to enabling 7th Level to produce a series of high profile events surrounding Yamani's fantastic feature films, this deal puts the 7th Level Entertainment Group in the position to acquire companies and assets within the scope of the Entertainment Industry that will add significant value to the 7th Level Entertainment Group, Yamani Pictures and their respective investors."
Kenneth Hurley, Chief Executive Officer of Signature Devices, Inc., parent company of both 7th Level and its sister division, Graffiti Entertainment, further stated: "7th Level is already working with Yamani Pictures, promoting and producing events and tours of Yamani's proprietary slate of animation and action films which star true, "A" List talent. Frankly, Yamani's agreement with 7th Level is a business coup in itself... with the addition of the strategic acquisition financing deal, this agreement greatly expands the scope of our total entertainment business. With 7th Level doing film tours and events, and its sister division, Graffiti Entertainment, Inc. handling the video gaming franchise opportunities for Yamani's feature films, the benefits for all involved are enormous. This is a win for Yamani Pictures and a win for Signature Devices as well-the 7th Level and Graffiti deals really propel our momentum as we continue to diversify our businesses into new areas of the entertainment sector, specifically with music and film tours, live events and talent management- all this added to our core gaming business."
Robert Yasin Wright, C.E.O. of Yamani Pictures, was quoted as saying: "The strategic alliance of Yamani Pictures' joint venture with the 7th Level Entertainment Group will prove ground-breaking in the over-all entertainment industry."
Yamani Pictures
Yamani Pictures is an Independent Film Studio whose film slate consists of a diverse array of projects targeted at the key demographics within the worldwide movie going audience. Yamani's projects include animation films, action films and theatrical franchises starring A list actors. Some highlights of Yamani's upcoming film slate for 2010-2011 are:
-- "Is It Something I Said" starring Eddie Murphy which chronicles the
life of Richard Pryor; directed by Bill Condon.
-- "Only The Hood Dies Young," starring Bruce Willis, DMX, and Mickey
Rourke which also includes a feature film soundtrack with high profile
urban artists and an associated music tour.
-- "Down And Dirty", based on the New York Times best seller about the
Weinstein brothers and the rise of the independent film market
starring Vincent D'Onofrio; directed by Ken Bowser.
The synergies between 7th Level and Yamani Pictures mesh seamlessly because each Yamani project is structured to be exploited in the distribution / revenue lines of: Theatrical distribution, DVD, Video On Demand, Pay Per View TV, Home TV, Cable, Satellite, Broadband, Mobile; Music, Digital Downloads, Streaming Audio, Concerts, Video Games, Comics, Merchandise; Show and Theaters. These speak to 7th Level's strength.
7th Level Entertainment Group, LLC
The 7th Level Entertainment Group ( www.7leg.com ) is an International Event Production and Talent Management company that provides clients with a wide range of production and management related services across the full spectrum of the entertainment industry. The 7th Level Entertainment Group is a wholly owned subsidiary of Signature Devices Inc./ Graffiti Entertainment (Other OTC: SDVI).
The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.
CONTACT:
--------
Signature Devices, Inc.
-----------------------
Investor Relations Contact:
---------------------------
(650) 654-4800 x111
-------------------
ir@signaturedevices.com
-----------------------
www.signaturedevices.com
------------------------
Press Contact:
--------------
CG+M Advertising / Design
-------------------------
T: 212-966-5985
---------------
info@cgmadvertising.com
-----------------------
www.cgmadvertising.com
----------------------
Source: Signature Devices, Inc.
CONTACT: Signature Devices, Inc., Investor Relations Contact:
+1-650-654-4800 x111, ir@signaturedevices.com; or Press Contact: CG+M
Advertising / Design, +1-212-966-5985, info@cgmadvertising.com
Web Site: http://www.signaturedevices.com/
-------
Profile: intent
0 Comments:
Post a Comment
<< Home