TORONTO, March 7 /PRNewswire-FirstCall/ -- Constantine Papadopoulos, CEO of Cinemax Pictures & Production Co. Intl., Inc. ("Cinemax" or the "Company"), and Tony Gouveia, CFO, announced today the current plans for Cinemax in the first and second quarters of 2008.
According to Papadopoulos: "We are in the process of consummating our participation in two new major film projects. We will be assisting in the completion of the financing for these films. Both projects are matching fund (equal participation) investments; one is a "bio-pic" with a $12 million dollar total budget. The other is a horror film with a $3.5 Million dollar total budget. The company expects one or both of these projects to be in pre-production or in production sometime during the second quarter of 2008.
We are also pleased to announce the addition of Mr. Christian De Frank as a consultant to our film division. Christian De Frank, who will be helping package specific film projects, as well as consult on corporate matters, is a creative producer and the former President of Kings Road Entertainment, the company that produced (among other well known film projects) Kickboxer, The Big Easy and All of Me.
Papadopoulos and Gouveia continued: "Consistent with an internal decision made solely by the executives of the company, and done without any external influences, we executed a previously planned name change. We will now be known as Circa Pictures and Production Co. Intl., Inc. ("Circa"). Continued trading under the symbol "CPPC" is pending and a new Cusip number has already been assigned. Management feels the new name better reflects the company's vision for the future which is also reflected in our new logo and website, viewable at http://www.circapictures.com/. Information from the previous website will also be available within the new site.
Gouveia also commented: "Since we completed the merger in October, 2007 and we became one publicly traded American based company, we have been busy reorganizing internal operations to prepare for our future. Our legal staff has accomplished the updating of our corporate registrations for the Company's new name with The NASDAQ Stock Market, Inc., Corporate Data Operations and with the Washington Secretary of State. The updating of our Board of Director filings with Washington State is also in process. We will file the application to upgrade our reporting status with the Pink Sheets to Limited Information in March 2008. This will include financial statements and other disclosures.
Furthermore, to become a fully reporting company, we anticipate filing a Form 10 with the SEC in April, 2008. An audit will be completed as part of this filing process. After this is finalized, we will receive a new Central Index Key Number (or CIK #). These steps shall further our goals to be listed on The OTC Bulletin Board in 2008 and eventually on The NASDAQ.
In closing, Mr. Gouveia stated: "The many initiatives we have undertaken recently were done to provide our shareholders with added value and corporate transparency."
About Circa Pictures and Production Co. Intl., Inc.
Circa Pictures is a publicly traded company registered with the Washington Secretary of State and is doing business in the United States and in Canada. Circa Pictures is a rapidly emerging film and television production company. Circa owns fourteen "Indie" movies that are in various stages of pre-production and production ranging from comedies and romance to action-thrillers and family features. Circa Pictures also owns a number of reality, scripted and children's oriented television shows that will be marketed to terrestrial and cable television networks and syndication companies across North America. For more information, please visit Circa's web site at: http://www.circapictures.com/.
FORWARD LOOKING STATEMENTS
This press release contains statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Act of 1995. Certain statements in this press release may contain words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "projects," "targets" and other similar language that are considered forward-looking statements.
These forward-looking statements are subject to certain risks and uncertainties and persons reading this press release are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different.
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