SOURCE: Camelot Entertainment, Inc

Camelot Entertainment, Inc

August 31, 2010 16:42 ET

Camelot Sales Continue to Climb

Recent Library Acquisition, New Titles Ignite Growth

UNIVERSAL CITY, CA--(Marketwire - August 31, 2010) -  Camelot Entertainment Group, Inc. (OTCBB: CMGR) ("Camelot") announced today that gross sales from its distribution activities have continued to climb, due to its recent acquisition of the Liberation film library and sales of new titles recently acquired by Camelot. 

Year to date, Camelot has generated approximately $1,247,500 in total gross sales, including approximately $570,000 in third quarter gross sales. August 2010 has been the best sales month for Camelot since inception with approximately $410,000 in gross sales contracts expected to be closed. In addition, the Camelot sales team has strengthened its outreach, adding additional members while signing worldwide deals for many of its banner features. Camelot expects to record its net revenue numbers as titles are physically delivered to Camelot's customers once all the specific film elements are completed, Camelot has received the applicable payments and all expenses and third party participant payments have been made in accordance with the terms and conditions of the various sales contracts.

"Our sales are growing steadily," stated Jamie Thompson, President of Camelot Distribution Group. "As we continue to add new titles and generate sales from our library, we expect our sales to continue to increase as we get closer to MIPCOM in October and the American Film Market in November. This has been our best year to date."

More detailed information on Camelot's film library and its new titles can be found on the Company's website at www.camelotent.com.

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
    Email Contact
    (772) 919-8747

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