SOURCE: Seven Arts Entertainment Inc.

May 27, 2015 08:00 ET

Seven Arts Entertainment Acquires Cash Ready ATM Inc.

LOS ANGELES, CA--(Marketwired - May 27, 2015) - Seven Arts Entertainment Inc. (now known as Wireless Connect Inc.) (OTC PINK: SAPX) ("Seven Arts" or the "Company"), a diversified company with motion picture production assets and wireless communications, is pleased to announce the execution of a Stock Purchase Agreement ("Agreement") under which the Company will acquire Cash Ready ATM Inc. ("CRAI"). Pursuant to the Agreement, the Company will acquire all the capital stock of CRAI for the Company's Series E Preferred Stock converting into the Company's common stock. Post closing, CRAI will continue to be managed by its current management team and will operate as a wholly owned subsidiary of the Company. Closing is expected to be in the next few weeks.

CRAI has been providing wireless and permanent ATM machines to a wide range of entertainment venues including fairs, festivals, and carnivals throughout the eastern seaboard, south east, and most of the mid-west.

Wireless products and services in entertainment venues are in high demand and expected to be available with high up-time and fast connectivity. This acquisition adds another component to Seven Arts expanded business plan to provide wireless communications and infra-structure deployments to entertainment venues. CRAI will work closely with Aeronetworks, one of Seven Arts subsidiaries, to offer an integrated solution that includes wireless communications and ATM services. CRAI will utilize Aeronetworks wireless backbone to process its transactions; reducing cost and retaining a larger portion of the per transaction service fee. From a network deployment standpoint, Aeronetworks will utilize CRAI's mobile ATMs as access point hosting, where feasible; reducing the number of tower deployment and installation cost.

"With three acquisitions in less than a year, CRAI adds another dimension to Seven Arts' portfolio of vertically integrated companies. Seven Arts' new management team is focused on monetizing the company's core movie assets and is committed to diversify its business plan to include wireless communication opportunities in digital media, entertainment venues, broadband deployment in underserved markets, and other niche wireless opportunities," stated Rick Bjorklund, Chairman and CEO of Seven Arts. "CRAI and Aeronetworks integrated product offering will generate new source of revenue and at the same time reduce operational cost. We continue to evaluate complementary opportunities to diversify our revenue strategy and grow the company organically and thru acquisitions."

"Joining forces with Seven Arts and Aeronetworks will expedite CRAI's growth and entry into new markets with multiple levels of service and deployment," stated Blane Amy, founder and President of Cash Ready ATM Inc. "We believe CRAI will also enable Seven Arts to deploy networks seamlessly in scenarios and geographies that have been a challenge in the past."

About Cash Ready ATM, Inc.
Cash Ready ATM, Inc. has been providing wireless and permanent ATM machines to a wide range of entertainment venues including fairs, festivals, and carnivals throughout the eastern seaboard, south east, and as well as most of the mid-west. For more information, visit www.cashreadyatm.com.

About Seven Arts Entertainment Inc.
Seven Arts Entertainment Inc. is a global diversified company with wireless communications and motion picture production assets. Seven Arts vertically integrated portfolio of solutions target a diverse array of enterprises and multiple disciplines. Seven Arts has 60% membership interests of Seven Arts Filmed Entertainment Louisiana LLC, which holds all rights to Seven Arts movie assets; 100% of iPTerra Technologies Inc., a designer, developer, manufacturer and marketer of a real-time 2-way wireless and/or wireline communications and mine-safety solution for the global mining industry (www.ipterra.net); and 100% of Aeronetworks, a provider of wireless and wireline communications and broadband services to digital media, entertainment and sports venues, and underserved markets such as rural communities and Native American tribes (www.aeronetworks.net).

Cautionary Information Regarding Forward-Looking Statements.
Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from the anticipated. The information contained in this release is as of May 27, 2015. Seven Arts assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

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