SOURCE: Imperia Entertainment, Inc.

March 26, 2008 18:43 ET

Imperia Entertainment Launches Warrant Offering; Locks Further Issuance of Shares; Independent Film Development Corporation Files Registration Statement

BEVERLY HILLS, CA--(Marketwire - March 26, 2008) - Imperia Entertainment, Inc. (PINKSHEETS: IMPN) announced today that it has launched a warrant offering of up to 2 million warrants for 25 cents per warrant, each entitling the holder to purchase one share of Imperia common stock for $1.00 per share for a period of five years. This offer is extended to existing shareholders. "We are committed to fixing the foundation of this company, and distance ourselves from the Pink Sheets and all penny stocks and get on an exchange. It is our immediate priority to become a reporting company so that we can accomplish this," said George Ivakhnik, Vice President Capital Markets. Existing shareholders will also receive 5% in common shares for every 1% of the warrant offering purchased. As part of the offering, the Company is committing to the warrant holders not to issue any additional common stock during the five-year warrant period. Imperia's parent company, Independent Film Development Corporation (IFDC), according to corporate counsel, Kenneth Eade, has filed a Registration Statement with the Securities and Exchange Commission and announced its intention to seek a NASDAQ listing after the effective date of the registration. The company has also launched at new web site at www.independentfilmdevelopment.com. Interested parties can join daily investors' roundtable discussions with management at 1:30 p.m. Pacific Time, daily, by calling 1-605-990-0700, and entering access code 444636 pound.

ABOUT INDEPENDENT FILM DEVELOPMENT CORPORATION

Independent Film Development Corporation is a holding company, investing in the securities of film and film distribution companies. We have acquired 70% of the equity interests of Imperia Entertainment, Inc., a film production company, and 100% of Signature Entertainment, LLC, a film distribution company. Signature Entertainment, LLC, is a film and television distribution company, specializing in the marketing and sales of independent films. Signature's management has a marketing and sales staff with over 23 years collective experience in identifying, producing, marketing and selling filmed entertainment. The majority of Signature's business operates in a small, low risk, and profitable segment of the entertainment industry that connects the independent filmmakers and distribution outlets.


ABOUT IMPERIA ENTERTAINMENT

Imperia Entertainment, Inc. (www.imperiaentertainment.com) has recently changed management and is pursuing a new plan of operations; emphasizing three main areas of film production and finance; Co-financing projects with A-List talent attached, acquiring product in the development stage, and its own film production. This, coupled with film distribution through IFDC's new film distribution subsidiary, makes up the new revenue model for the Company. The Company will emphasize not only new projects with A-List talent attached, but also its own library of feature films and television programming, including, "Say It In Russian" starring Faye Dunaway, the award-winning "Autograph" television series, and "The New Three Stooges" cartoon series, a series of 156 cartoons and 41 live wraparound skits featuring The Three Stooges, and seven other television movies.

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Imperia Entertainment, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Contact Information

  • Imperia Entertainment, Inc.
    George Ivakhnik
    310-275-0089
    Email Contact