SOURCE: Camelot Entertainment Group, Inc

Camelot Entertainment Group, Inc

September 14, 2011 17:09 ET

Camelot Refutes False Library Foreclosure Claim

Company Denounces Incentive's False and Misleading Ad in Variety

UNIVERSAL CITY, CA--(Marketwire - Sep 14, 2011) - Camelot Entertainment Group, Inc. (OTCBB: CMGR) ("Camelot") announced today that the ad published in yesterday's Variety by Incentive Capital LLC is false and misleading and that Incentive Capital LLC has no rights to any portion of the Camelot film library. Camelot and Incentive are engaged in ongoing civil actions that are currently winding their way through the court system. Camelot owns the distribution rights to all of the titles discussed in the Variety ad.

"Incentive continues to assert rights to the films it does not have. A Federal Judge has rejected Incentive's arguments twice. Once again, Incentive is trying to unlawfully grab Camelot's films and in so doing trying to seize what it was unable to obtain in a court of law," commented Camelot Distribution Group President Jessica Kelly. "Camelot owns the distribution rights to these films and has continued to sell them to third parties from all over the world. Unlike Incentive, Camelot has faith in its legal position and has faith that its position will be vindicated in court, just as it has been vindicated so far in litigation now pending between Camelot and Incentive."

"As always Camelot will vigorously oppose these crude attempts by Incentive to grab Camelot's films. Camelot is confident of its position, one which has been vindicated twice by a Federal Judge," Kelly added. "Camelot stands by its buyers, clients and customers and will not be intimidated by the crude and unlawful tactics of Incentive."

In April of 2010, Camelot acquired the rights to sell the former Liberation Library. Camelot filed a civil suit against Incentive earlier this year, subsequent to which Incentive filed a suit against Camelot. At no point has a court entered any type of order that would curtail Camelot's ability to license the titles nor has the library been sold and/or transferred to a third party.

ABOUT CAMELOT ENTERTAINMENT

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 Group
    Email Contact
    (772) 919-8747

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