Camelot Films Assembling Initial Film Slate
Camelot Entertainment Group, Inc. [[CMLT.OB]] announced today that it has begun acquiring projects that will be part of its annual film slate of twelve films to be produced and distributed by its Camelot Films(R) subsidiary. The company decided to move forward with several projects it had been working on acquiring now that negotiations with its new production and distribution chiefs appear to be nearing conclusion. The company now expects a formal announcement, originally scheduled in January, to be made during February.
Despite continued turmoil in the economy, Camelot remains bullish on 2009 with acquisition, production, studio development and financing activity all expected to increase this year. The company had previously announced that it had accelerated its acquisition and development of several film projects through its Camelot Features subsidiary, which, along with Camelot Films, is part of the company’s Camelot Film Group division.
In addition, Camelot is continuing to pursue potential acquisitions of two key distribution and production companies. Camelot still expects to finalize letters of intent during the first quarter of 2009. Negotiations had slowed until the company was comfortable that the funding to complete the acquisitions would be available once the transactions were finalized.
About Camelot Entertainment Group, Inc.: Camelot Entertainment Group, Inc. is a US publicly traded company (symbol “CMLT”) with three major divisions: Camelot Film Group, Camelot Studio Group and Camelot Production Services Group. Camelot is building a different kind of motion picture studio infrastructure by redefining the development, financing, production, and distribution process. For general information about Camelot Entertainment Group, Inc., please visit the Company’s web site at www.camelotfilms.com.
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