HALLANDALE BEACH, FL--(Marketwired - Apr 18, 2017) - The Movie Studio Inc. ("MVES") (the "Company") (OTC PINK: MVES) www.themoviestudio.com announced today that on March 27th, 2017, it entered into a Securities Purchase Agreement (the "Securities Purchase Agreement") with GPL Ventures LLC ("GPL"), a leading Manhattan-based Alternative Investment Fund.
Pursuant to the Securities Purchase Agreement, the Company, at its sole and exclusive option, may issue and sell to GPL shares of the Company's common stock ("Shares") equal to a value of up to Five Million Dollars ($5,000,000) once the Company has filed its S-1 Registration Statement and it is deemed effective by the SEC. Upon the S-1 Registration being deemed effective, the Company may elect to trade on the OTCQX or other larger national markets subject to meeting minimum requirements.
Charles Miller, COO of The Movie Studio, stated, "We're excited to be working with GPL Ventures with their proven track record of successful investments in emerging growth companies like The Movie Studio."
"We're happy to add The Movie Studio to our investment portfolio and are looking forward to being part of its explosive growth going forward," said Alexander Dillon, the Managing Member of GPL Ventures.
This mutually beneficial agreement has the potential to give The Movie Studio and its subsidiary's the financial strength needed to continue growing at a rapid rate without taking on adverse debt.
Subject to the terms and conditions of the Securities Purchase Agreement, the Company, at its option, may issue and sell to GPL, and GPL may purchase from the Company, the Shares upon the Company's delivery of written notices to GPL. The aggregate maximum amount of all purchases that GPL may make under the Securities Purchase Agreement shall not exceed $5 million. Once a written notice is received by GPL, it shall not be terminated, withdrawn or otherwise revoked by the Company. GPL is not obligated to purchase any Shares unless and until the Company has qualified the Shares pursuant to an offering statement on Form S-1.
GPL Ventures LLC is compensated for a commitment to purchase securities which is the subject of this press release. Payment is made through the one time issuance of a $100,000 Convertible Promissory Note. GPL Ventures LLC intends to sell such securities into the market place upon the sooner of (1) the effectiveness of a registration statement as to such securities; or (2) the availability of Rule 144 as to the re-sale for such securities.
The Company plans to use the proceeds from this Securities Purchase Agreement to complete the acquisition of the "Arrowhead Film Library" the Company announced on Aug 16, 2016 (http://www.otcmarkets.com/stock/MVES/news/The-Movie-Studio-to-Acquire-12-Major-Motion-Pictures?id=138493&b=y). The completion of this acquisition will add an additional 14 major motion pictures to the Company's growing library of full length feature films.
In addition, the Company intends to fund domestic and international marketing of its latest production "Bad Actress" a light-hearted comedy starring Colombian film sensation "Excelina" (http://www.otcmarkets.com/stock/MVES/news/The-Movie-Studio--Inc--Premiers-Latest-Feature-Film-Bad-Actress-for-Worldwide-Release-at-the-2016-American-Film-Market-in-Los-Angeles--California?id=143143&b=y).
Other funds from the investment are slated to be used to:
- Expand the Company's proposed production facility at Gulfstream Park in Hallandale Beach, Florida
- Add personnel to its sales & film distribution department
- Complete other upcoming acquisitions that are the result of recent successful negotiations (details to be announced)
- Produce new films in 2017
"We are very excited about putting this Securities Purchase Agreement in place as a new funding vehicle for the company," said Gordon Venters, CEO of The Movie Studio Inc. "MVES plans to use this capital to fuel the growth of our full-length feature film production business, our acquisition of other completed feature films and the sales of those films across multiple platforms in both domestic and international markets."
"This investment will be key for us and our investors as we continue to build the The Movie Studio into an internationally recognized brand throughout North America, Europe, Asia and beyond."
About The Movie Studio Inc.
The Movie Studio, Inc. is a vertically integrated motion picture production and distribution Company with completed motion picture and production assets. The Company acquires, develops, manufactures, and distributes independent motion picture content for worldwide consumption in Theatrical, Video on Demand (VOD), Foreign Sales and on various media devices. For more information, visit http://themoviestudio.com/.
Forward Looking Statements and Disclaimer
Statements made in this press release that express the Company or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe," "expect," "intend," "estimate," "anticipate," "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company's forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company's future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. No information in this press release should be construed as any indication whatsoever of the Company's future revenues or results of operations.