SOURCE: Target Development Group, Inc.

January 07, 2010 08:00 ET

Hannover House on Target at Sundance for Major Titles

NEW YORK, NY--(Marketwire - January 7, 2010) - Hannover House, the film and video distribution division of Target Development Group, Inc. (PINKSHEETS: TDGI) (Other:,, is armed with cash and ready to buy films as one of an elite group of recognized studio buyers at the upcoming Sundance Film Festival. Funds from a variety of off-balance-sheet acquisition ventures will enable Hannover House to compete with the major studios for the distribution rights to the top echelon of "A" level theatrical titles, said C.E.O. Eric Parkinson.

"We're actively pursuing commercial hits," said Parkinson. "Our acquisition model of off-balance-sheet co-ventures will enable Hannover House to pay significant advances if needed, yet limit the company's downside risk. We feel that this sort of credit arrangement is more beneficial to our shareholders than a traditional debt line or the issuance of new equity shares. It's a creative way for the company to acquire the high-profile titles that will drive our growing business," he continued.

Over the past 26 years, many key titles from the Sundance Film Festival have gone on to achieve notable, commercial success. Hannover House will be attending this year's festival looking to acquire the U.S. distribution rights to films that have significant theatrical potential.

"Hannover House already has a solid line-up of new release titles for 2010," said Parkinson. "But we have room to add up to four major titles to our schedule, and will be a highly visible player at this year's Sundance," he concluded.

The 26th annual Sundance Film Festival will be held from January 21 through 31 in Park City, Utah. Hannover House is a wholly-owned subsidiary of Target Development Group, Inc.


This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, which are intended to be covered by the safe harbors created thereby. Although the company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that these statements included in this press release will prove accurate.

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