ORLANDO, Fla., Nov. 18, 2004 (PRIMEZONE) -- Raven Moon Entertainment, Inc. (OTCBB:RVNM) and Club House Videos Inc. announced today that they have agreed to postpone their merger until further notice.
The postponement of the merger is based upon Raven Moon's desire to create a package that is most advantageous to all shareholders. As a result, Raven Moon will not be diluting its shareholder base with the issuance of up to $2,000,000 worth of common and preferred stock.
Raven Moon and Club House Videos will continue to operate as separate entities and will maintain their prior agreements as it pertains to CD, DVD, and Video rights.
Raven Moon Entertainment is working on the completion of 39 episodes of GINA D'S KIDS CLUB and has already begun syndicating the program nationwide to ABC, FOX, UPN, CBS, and PBS stations. GINA D'S KIDS CLUB is currently airing in New York, Los Angeles, Philadelphia, Las Vegas, Maryland, and many other states and cities across the country.
For Raven Moon Entertainment, Inc. company information call Marc Jablon at (407) 877-5952 or visit www.ravenmoon.net. GINA D'S KIDS CLUB products are only available through Club House Videos Inc. a subsidiary of Raven Moon Entertainment, Inc. Visit www.clubhousevideos.com for details.
Safe Harbor Act Notice: This release may contain forward-looking statements that involve risks and uncertainties, including without limitation, acceptance of the company's products, increased levels of competition, product and technological changes, the company's dependence upon financing and third- party suppliers, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum, or prospectus. Specifications are subject to change without notice.