SOURCE: Seven Arts Pictures plc

Seven Arts Pictures PLC

July 25, 2011 11:03 ET

Seven Arts Pictures PLC Signs Production Agreement With Prodigy Pictures, Inc. to Finance $60 Million Budget for Neuromancer

LOS ANGELES, CA--(Marketwire - Jul 25, 2011) - Seven Arts Pictures PLC (NASDAQ: SAPX) ("Seven Arts" or the "Company") today announced an agreement with Prodigy Pictures, Inc. ("Prodigy") to jointly produce and distribute the highly-anticipated motion picture "Neuromancer," based on the best-selling science fiction novel by William Gibson.

Prodigy hopes to arrange substantial financing for the film, which is expected to have a production budget of approximately $60 million. Prodigy's Founder and CEO, Jay Firestone, will be the lead producer on "Neuromancer," and will supervise all elements of production for the film.

"Jay Firestone has a long and well regarded reputation in the industry," said Peter Hoffman, CEO of Seven Arts. "I firmly believe that Jay's savvy and expansive relationships will lead to strong investment, and a sharp production."

Published in 1984, "Neuromancer" was the first winner of the science fiction "triple crown," receiving the prestigious Nebula Award, Philip K. Dick Award and the Hugo Award. "Neuromancer" was also listed on Time magazine's list of 100 best English-language novels written since 1923. By 2007, William Gibson's archetypal cyberpunk novel had sold more than 6.5 million copies worldwide.

The film adaptation of Gibson's novel will be written and directed by Vincenzo Natali, whose directorial credits include the 2009 science fiction horror film, "Splice" and the 1997 psychological thriller, "Cube."

"Having Vincenzo on board has been exhilarating for us," said Jay Firestone, founder of Prodigy Pictures. "His distinctive vision has added a striking new dimension to William Gibson's already thought-provoking story."

Principal photography on the film is expected to begin in the first quarter of 2012.

About Seven Arts:
Seven Arts Pictures PLC was founded in 2002 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production, and licensing of theatrical motion pictures for exhibition in domestic (i.e., the United States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of media, including home video and pay and free television.

About Prodigy Pictures:
Prodigy Pictures Inc. was founded in 2006, by Jay Firestone, as a Canadian independent television and motion picture production company engaged in the development, financing, production and licensing of television and motion pictures. Prodigy is currently in production with the second season of his record breaking TV series Lost Girl and with season one of the series X111 which is a follow up to his mini series X111: The Conspiracy. Mr. Firestone's previous companies include Fireworks which he sold to CanWest Global Communications.

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.

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