The Wonderfilm Media Corporation
Wonderfilm Media Closes Deal with Impossible Dream Entertainment
Monday, April 8, 2019 9:20 AM
VANCOUVER, BC / ACCESSWIRE / April 8, 2019 / The Wonderfilm Media Corporation (TSXV: WNDR) (OTC: WDRFF) ("Wonderfilm" or the "Company") is pleased to announce that it has received TSXV final acceptance and completed the non-exclusive joint venture agreement ("JV Agreement") with Impossible Dream Entertainment Inc. ("IDE") that was previously announced February 22, 2019.
Kirk Shaw, Wonderfilm CEO: "It's unlikely that the market yet realizes the significance of this joint venture, particularly as it pertains to Wonderfilm emerging as a potent theatrical feature film developer and producer. Partnering with IDE means working with one of the most successful Feature Film producers over the last two years with a string of successful movies nominated for Oscars and exceeding $100 million each in revenue from box office tickets. Our near term target is to develop and produce four theatrical features with IDE, which in itself is a significant growth step for the Company. I like to compare this to Lionsgate, which built itself from the single film franchise, 'Saw', a success that brought buzz and huge cash influx. One similar hit from our partnership with Shaun Redick would move Wonderfilm into the position of being a dominant player in the theatrical movie industry and considerably increase revenue."
Wonderfilm and IDE are in the business of identifying, creating, producing, managing and distributing film and video content , to a multitude of countries of the World and see a vision of collaborating as co-producers and developers of quality content. The JV Agreement is for an initial five (5) year term and automatically renews for subsequent five (5) year terms. IDE will provide to Wonderfilm, updates to the IDE Projects List and if Wonderfilm elects to proceed with a submitted IDE Project, both companies will negotiate a separate JV Project Agreement ("JV Project"). IDE is not required to submit all of its planned projects exclusively or on a "first look" basis to Wonderfilm. IDE will provide updates to the IDE Projects List periodically of at least every three (3) months. All successfully negotiated individual JV Projects rights are to be transferred to Wonderfilm and then down to a newly created Single Purpose Entity or Special Purpose Vehicle for development.
In addition, the Mr. Dennis Nerland has resigned as Director for the Company for personal reasons and Management and Directors wish him good luck with future endeavours. At this time, the Company is actively searching qualified candidates.
Wonderfilm is a leading publicly traded (TSX Venture Exchange) entertainment company with production offices in Los Angeles, corporate offices in Vancouver BC and its Asian distribution office in Seoul, South Korea. Founded by 4 producers, Kirk Shaw, Daniel Grodnik, Jeff Bowler and Bret Saxon, the Company's core business is producing market-driven independent feature films and quality television series for multi-platform global exploitation. Current productions include the feature films, Moose (starring John Travolta) and Primal (starring Nicolas Cage.) Wonderfilm is a producer and distributor only for the projects disclosed. The legal ownership of movie productions are held in a special purpose legal entity held at arm's length to the Company to facilitate for the qualification of various levels of domestic and foreign government tax credit incentives that are customary in the film and production business.
ABOUT IMPOSSIBLE DREAM ENTERTAINMENT
iDream Ent. focuses on creating, developing, financing and producing feature films and series content for a wide demographic audience in N. America and across the world. They are currently producing several cutting-edge new movies and series. The Impossible Dream Ent. duo of Shaun Redick and Yvette Yates Redick have a mandate and a company vision to acquire and tell stories that embrace diversity and inclusion. They are also committed to the 4% Challenge to give more women and women of color the opportunity to direct.
iDream Ent. finances and produces content with multiple investment partners including Mickey Gooch's Delray Village Entertainment, Santosh Govindaraju's Convergent Media, Matt Antoun and Mark Strome's iWood Studios, and Mary Totten's Foraker Entertainment.
Neither the TSX Venture Exchange Inc. ("Exchange") nor its regulation services provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements that are subject to substantial risks, uncertainties and assumptions. All statements other than statements of historical fact contained in this press release are forward-looking statements. These statements often include words such as "believe," "expect," "target," "anticipate," "forecast," "intend," "plan," "projects," "seek," "will," "may" or similar expressions. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Wonderfilm's control and Wonderfilm's actual results could well differ materially from those stated or implied in forward-looking statements due to many various factors. Although Wonderfilm believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward-looking statements. All such reflect the date made only. Wonderfilm undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise. For further details, please see the Company's documents filed on the System for Electronic Document Analysis and Retrieval at www.sedar.com.
Impossible Dream Entertainment:
Theo Dumont / Buffalo Marketing
Tel: (323) 653-5938
Email: [email protected]
Wonderfilm Contact Information:
The Wonderfilm Media Corporation Chief Executive Officer
Telephone: (604) 638-4890
Email: [email protected]
Telephone: (905) 510-7636
Email: [email protected]
SOURCE: The Wonderfilm Media Corporation