SOURCE: Platinum Studios

Platinum Studios

January 21, 2010 09:00 ET

Platinum Studios Secures $5 Million Financing Commitment

LOS ANGELES, CA--(Marketwire - January 21, 2010) - Platinum Studios, Inc. (OTCBB: PDOS), an entertainment company that controls an international library of more than 5,600 comic book characters which it adapts, produces and licenses for all forms of media, announced today that it has entered into an Investment Agreement for a $5,000,000 equity line of credit with Dutchess Opportunity Fund II, LP.

"The completion of this facility, with an established financing partner such as Dutchess, is a clear indication of investor optimism returning to the capital markets and has provided valuable resources Platinum Studios may need to facilitate its business model," said Scott Mitchell Rosenberg, Platinum Studios CEO.

During the 36-month term of the Agreement, the Company has the option to sell shares of its common stock to Dutchess issued under the equity line, at per share prices to be determined based on market prices in accordance with an agreed-upon formula. Platinum Studios will control the timing and amount of any sales of shares sold to Dutchess.

"We believe that Platinum Studios represents a compelling investment for our fund considering the Company owns one of the few remaining independent multi-universe comic book character libraries. The announcement last summer of Disney's $4 billion acquisition of Marvel Entertainment was the latest step in the consolidation of these collections into major studios. With the emergence of comic book-based entertainment as the cornerstone of major entertainment franchises around the world, we are excited to participate in the Company's growth," stated Jessica Geran, Director of Corporate Finance at Dutchess.

Douglas Leighton, Managing Director of Dutchess, stated, "We believe in management's efforts to grow the company and this facility provides inexpensive and flexible access capital. Regardless of the ever-tightening capital markets, Dutchess continues to finance the growth of promising companies such as Platinum Studios."

Awareness for Platinum Studios' properties has increased significantly over the past year due in part to the upcoming film "Dead of Night," an adaptation of the beloved Italian comic book "Dylan Dog," which has sold over 56 million copies worldwide. In a poll conducted in December 2009 by MTV.com, "Dead of Night" ranked fifth amongst all comic book movies audiences were anticipating for 2010. The results came unexpectedly to MTV.com since the film was accidentally left off the list of nominees and all votes for the picture were write-in votes.

In addition to "Dead of Night," Platinum Studios' graphic novel "Cowboys & Aliens" is anticipated by DreamWorks for a mid-2010 start, with Steven Spielberg, Ron Howard, Brian Grazer, and Platinum producing. In addition to these active, high-profile projects, Platinum is also developing "Unique" with "Harry Potter" producer David Heyman at Walt Disney Pictures; "The Witchblade" with "Wanted" executive producer Marc Silvestri and Top Cow Productions, Inc.; "Atlantis Rising" with DreamWorks, Kurtzman/Orci and director Len Wiseman ("Underworld"); "The Weapon" with Disney Channel's "Wizards of Waverly Place" star David Henrie; "Mal Chance" with producer Tony Krantz ("24"); "Indestructible Man" and "Gunplay" at FOX 21; "Nightfall" with Aurora Productions and an untitled feature film project at Sony Pictures Animation. Platinum's Rosenberg would serve as a producer on all film projects and an executive producer on all TV projects.

A more detailed description of the Dutchess agreement will be set forth in the Company's Form S-1 being filed with the SEC today, which should be reviewed carefully in conjunction with this news release.

About Platinum Studios, Inc.

Platinum Studios (OTCBB: PDOS) is an entertainment company that controls an international library of comic book characters from all over the world, which it adapts, produces and licenses for all forms of media including print, film, online, mobile / wireless, gaming, and merchandising.

Platinum Studios -- Comics Fueling Media EVERYWHERE!

To learn more about the company please visit: http://www.platinumstudios.com/

About Dutchess Capital

Dutchess Capital is an investment manager which provides creative financing for promising, growth-stage companies. Founded in 2000, funds managed by Dutchess have made over $200 million in direct investments in companies throughout North America, Europe and Asia. For almost a decade, Dutchess has been a global leader in Equity Line of Credit investments (ELOCs) and has transacted in excess of $1.4 billion in such financings. The ELOC is a flexible financing structure by which publicly traded companies can raise capital quickly, efficiently and with less dilution than most traditional offerings.

For more information, please visit: www.dutchessopportunity.com, a fund managed by www.dutchesscapital.com

Platinum Studios Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Although expected, actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of Platinum Studios and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting Platinum Studios and its operations; its markets, products, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently, and other factors detailed in reports filed by Platinum Studios with the SEC.

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