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Seven Arts Announces Strong Results at the Cannes Film Market(May 31, 2012)
HOLLYWOOD, CA -- (Marketwire) -- 05/31/12 -- Seven Arts Entertainment Inc. (NASDAQ: SAPX) ("Seven Arts") announced today that it expects to close over $2,000,000 in sales with distributors such as Monolith in Poland, Ster Kinekor in South Africa, Intercontinental in Hong Kong, and Panasia in China and Taiwan following the Cannes Film Festival which took place from the 16th to the 24th of May.
Building on strong interest following the announcement of the agreement with Di Bonaventura Pictures to produce "Neuromancer," the feature film based on the William Gibson novel to be directed by Vincenzo Natali, Seven Arts was also able to complete distribution agreements on two of its recently completed films, "Drunkboat" starring John Malkovich and John Goodman; and "Nine Miles Down" directed by Anthony Waller and starring Adrian Paul.
Peter Hoffman, CEO of Seven Arts, commented, "Following our strong performance in Berlin this year, we are extremely pleased with the market in Cannes. Distributor reaction to 'Neuromancer' and 'The Winter Queen' confirms our enthusiasm for these films, and we look forward to continuing our long standing relationships with some of the most important distributors around the world."
About Seven Arts: Seven Arts Entertainment Inc. is the successor to Seven Arts Pictures Plc, which 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 Seven Arts Music:
Seven Arts Music intends to develop new talent and label-establishing artists in the genres of hip hop, R&B, pop, dance and rock. David Michery's prominent career includes the production of numerous platinum albums and an executive role as Head of Urban Music for All American Communication, d/b/a Scotti Bros. Records, A&R for MCA Records and Zoo/BMG, and founder of Breakaway Entertainment and American Music Corporation.
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.
Seven Arts Entertainment Inc.
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