ORLANDO, Fla., Sept. 15, 2005 (PRIMEZONE) -- Raven Moon Entertainment, Inc. (OTCBB:RVMN) Chairman and CEO Joey DiFrancesco today provided an update on the company's progress in recent weeks.
Raven Moon announced earlier this week that its Board of Directors approved a new 100-to-1 forward warrant dividend for all shareholders of record as of September 30, 2005. The terms of the warrant dividend are: Any shareholder of record as of September 30, 2005 shall receive 100 warrants for each share of common stock owned as of that date. The warrants may be exercised during a two-month window between October 1, 2005 and November 30, 2005 at $0.02 per share.
The company completed distribution of the previously announced 1-to-1 warrant dividend to shareholders of record as of August 31, 2005. This warrant dividend may be exercised anytime until September 1, 2006.
Shareholders who need information about how to exercise their warrants can contact Carol Merry at Fahlgren Mortine Investor Relations at (614) 825-1752 or by Email: carol.merry@fahlgren.com.
Raven Moon continues to move forward at a rapid pace with the production and syndication of the GINA D'S KIDS CLUB television series beginning its second season on 167 television stations including WABC-DT in New York the number one market
The new G-Rated fully animated family theatrical feature film called GINA D & THE TRANSISTOR SISTERS (R) MOVIE has begun production of its Disney/Pixar 3D style distribution trailer which will be ready in October.
Raven Moon Promotion Director Diana Holiday reports that the Gina D's Reading Across America program is in the final stages of planning, with a number of venues across the country booked and outreach underway for sponsorships of the national tour.
Raven Moon Sales Director Janet Serluco has begun securing DVD and "Cuddly Bug" plush toy product sales revenues from retail specialty stores and reports that revenues continue to come infrom television ad sales.
Raven Moon continues its outreach and support of non-profit organizations such as: JDRF RIF and Just Read Florida.
"Our entire team is focused on the projects we have underway, which all directly support our strategy of increasing visibility and creating demand for our flagship television show and the merchandising opportunities associated with its success. At the same time, we are mindful of our shareholders and seek to create value for them as we continue to grow the company. We are very pleased with our progress and anticipate having additional positive announcements in the very near future," said DiFrancesco.
About Raven Moon Entertainment, Inc.
Raven Moon Entertainment, Inc. is involved with the production of family entertainment programs for television, VHS tapes, DVDs, music CDs, and related toys. Raven Moon has produced 24 episodes of GINA D'S KIDS CLUB(R), which started airing in September 2004 and is currently carried on more than 161 television stations nationwide.
About GINA D'S KIDS CLUB (R):
GINA D'S KIDS CLUB (R) has been hailed by educational leaders such as Mary Beth Leidman, Ed.D, a full professor in the media department at Indiana University in Pennsylvania, as a viable vehicle in the development of the self-image, social, math, and reading skills in young children. The main character, Gina D (R), is a fun loving and positive role model who connects with her 2 to 5 year-old audience in the same familiarity that children associate with their mothers. Children are not only educated but are entertained by a cast of whimsical characters which include Simon Wannabe, Mister Pockets, Miss Muffin, Pierre D'Artist, TV Ted and Doggy Brown. GINA D'S KIDS CLUB (R) is a place where every kid belongs.
For information on Raven Moon Entertainment and GINA D'S KIDS CLUB (R) visit www.ravenmoon.net or www.ginadskidsclub.com.
Safe Harbor Statement
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. Raven Moon Entertainment assumes no obligation to update any forward-looking statements.