SOURCE: Camelot Entertainment Group, Inc

Camelot Entertainment Group, Inc

December 31, 2010 09:15 ET

2010 Record Year for Camelot

Company Reached New Highs in Gross Sales, Revenues; 2011 Expected to Surpass 2010

UNIVERSAL CITY, CA--(Marketwire - December 31, 2010) - Camelot Entertainment Group, Inc. (OTCBB: CMGR) ("Camelot") announced today that 2010 was expected to be a record year for the entertainment company in both gross sales and revenues. Gross sales for 2010 are expected to exceed $2,200,000, with revenues expected to exceed $500,000. Camelot anticipates this trend will continue into the new year, with 2011 gross sales expected to surpass $6,000,000 and revenues expected to exceed $2,000,000.

Our sales and revenues are being spurred by the Company's rapidly growing Camelot Distribution Group subsidiary, which now has a film, television and digital media library with more than 900 total titles, including approximately 220 titles available for immediate delivery. Both Camelot Distribution and DarKnight Pictures, the two divisions of Camelot Distribution Group, expect to add a number of major titles in 2011. In addition, the Company continues to negotiate the anticipated acquisition of at least two additional distribution entities, which, if completed, could add up to an additional 500 or more titles to the library.

The Company now has 22 full and part time employees and major consultants as it prepares to continue expanding its production and distribution operations during 2011. Further, the Company plans to continue to bolster its management team and its Board of Directors during the upcoming year.

ABOUT CAMELOT

Camelot Entertainment Group, Inc. (www.camelotent.com) is a US publicly traded company (OTCBB: CMGR) with four divisions: Camelot Film Group, Camelot Distribution and DarKnight Pictures, Camelot Studio Group and Camelot Production Services Group. Camelot is building a different kind of motion picture studio infrastructure by redefining the development, financing, production, and distribution process. Camelot is a member of the Independent Film & Television Alliance (IFTA).

NOTES ABOUT FORWARD-LOOKING STATEMENTS

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings.

Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.

Contact Information

  • Contact:
    Jonathon Russo
    Camelot Entertainment
    Email Contact
    (772) 919-8747

    Media Contact:
    Jessica Kelly
    Camelot Distribution
    Email Contact
    (818) 308- 8858