Peace Arch Entertainment Group Inc.
TSX : PAE
AMEX : PAE

Peace Arch Entertainment Group Inc.

July 13, 2005 10:05 ET

Peace Arch Announces US$2 Million Pre-production Financing Facility

TORONTO, ONTARIO--(CCNMatthews - July 13, 2005) - Peace Arch Entertainment Group Inc. (AMEX:PAE)(TSX:PAE) announced today that its subsidiary, Peace Arch Motion Pictures Inc. ("PAMP"), has closed a US$2 million revolving credit facility with a private financier that will be used to bridge finance preproduction costs across PAMP's growing slate of feature film projects. The agreement was negotiated by PAMP President Lewin Webb.

Webb stated: "This new funding commitment gives Peace Arch the ability to readily put into production a number of exciting new projects that we currently have in development and also preserves working capital which would otherwise be used to support these activities. We are very excited by the new opportunities this facility creates for us."

Peace Arch Entertainment Group (www.peacearch.com) and its subsidiaries produce and distribute top quality feature films and television programs in the theatrical, home video and television markets throughout the world. The company is the worldwide distributor of the action thriller "The Veteran," which is currently in production starring Ally Sheedy and Michael Ironside, and is now in preproduction on "Heartstoppers" and "Warriors of Terra," the first two of a dozen cutting edge horror films expected to be produced pursuant to the recently announced joint venture between PAE, England's Framework Entertainment and Germany's Global United Entertainment.

This press release includes statements that may constitute forward-looking statements, usually containing the words "believe", "estimate", "project", "expect", or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, availability of capital and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Contact Information

  • Peace Arch Entertainment Group Inc.
    Nicole Spracklin
    (416) 487-0377 (ext. 237)
    nspracklin@peacearch.com
    or
    Jaffoni & Collins Incorporated
    Robert Rinderman or Karin Oloffson
    (212) 835-8500
    PAE@jcir.com