MDNT Huge Financing >> Medient Secures $5,000,000
Post# of 94264
Posted On: 10/03/2013 8:53:34 AM
Re: Pecanzington #7567
MDNT Huge Financing >> Medient Secures $5,000,000 Line Of Credit For Development, P&A
EFFINGHAM, Ga., Aug. 26, 2013 /PRNewswire/ -- Medient Studios, Inc. (OTCQB: MDNT) ('Medient') today announced that it has executed a Five Million Dollar credit facility with TCA Global Credit Master Fund, LP ('TCA'). The facility will finance development of motion pictures and also Print and Advertising costs for US domestic release of films.
"Enabling a dedicated fund for development and P&A is the next logical step as we continue to insource and realign the process of how films are produced, marketed and distributed," said Manu Kumaran, Chairman & CEO of Medient. "We are thankful to TCA for believing in our vision, and providing this asset backed lending facility to the Company," he added.
Donna Silverman, Portfolio Manager for TCA Global Credit Master Fund commented, "Medient's vision is truly extraordinary, and we are proud to provide finance to help the Company's future growth. We look forward to a long term partnership with the Medient team."
Medient is realigning the content creation process to enable efficiencies of scale and eliminate process waste by building a fully integrated movie and game production facility and campus on a 1,550 acre property in Effingham County, Georgia. Once operational this production facility will be the largest of its kind in the United States. The studio will be breaking ground later this week.
About TCA: TCA Founder, Mr. Bob Press has more than 20 years of experience in the small-cap lending space, and has worked with the fund's Portfolio Manager Donna Silverman since 2001. The team's unparalleled level of domestic and cross-border expertise, long-standing relationships and funding innovations, reflect in the number of completed transactions. TCA provides a unique offering for investors seeking absolute, uncorrelated returns in the small cap debt universe. For more information about TCA visit: www.tcaglobalfund.com
Safe Harbor Statement The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.
SOURCE Medient Studios, Inc.
Copyright 2013 PR Newswire
EFFINGHAM, Ga., Aug. 26, 2013 /PRNewswire/ -- Medient Studios, Inc. (OTCQB: MDNT) ('Medient') today announced that it has executed a Five Million Dollar credit facility with TCA Global Credit Master Fund, LP ('TCA'). The facility will finance development of motion pictures and also Print and Advertising costs for US domestic release of films.
"Enabling a dedicated fund for development and P&A is the next logical step as we continue to insource and realign the process of how films are produced, marketed and distributed," said Manu Kumaran, Chairman & CEO of Medient. "We are thankful to TCA for believing in our vision, and providing this asset backed lending facility to the Company," he added.
Donna Silverman, Portfolio Manager for TCA Global Credit Master Fund commented, "Medient's vision is truly extraordinary, and we are proud to provide finance to help the Company's future growth. We look forward to a long term partnership with the Medient team."
Medient is realigning the content creation process to enable efficiencies of scale and eliminate process waste by building a fully integrated movie and game production facility and campus on a 1,550 acre property in Effingham County, Georgia. Once operational this production facility will be the largest of its kind in the United States. The studio will be breaking ground later this week.
About TCA: TCA Founder, Mr. Bob Press has more than 20 years of experience in the small-cap lending space, and has worked with the fund's Portfolio Manager Donna Silverman since 2001. The team's unparalleled level of domestic and cross-border expertise, long-standing relationships and funding innovations, reflect in the number of completed transactions. TCA provides a unique offering for investors seeking absolute, uncorrelated returns in the small cap debt universe. For more information about TCA visit: www.tcaglobalfund.com
Safe Harbor Statement The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.
SOURCE Medient Studios, Inc.
Copyright 2013 PR Newswire
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