UNIVERSAL CITY, Calif., Jan. 5, 2012 (GLOBE NEWSWIRE) -- Camelot Entertainment Group, Inc. (OTC:CMGR) ("Camelot") announced today that its Chairman and CEO, Robert P. Atwell, has increased his common stock holdings in Camelot to 68.59 per cent as a result of recent share acquisitions reported in the Company's filings with the Securities and Exchange Commission ("SEC").
"I firmly believe in the future and viability of Camelot Entertainment Group, our employees, our partners and all those who have been working very hard over a period of many years to see our vision become a reality," stated Camelot Chairman Robert P. Atwell. "We continue to build a strong foundation and to overcome the hurdles and obstacles that have been placed in front of us. Ours is a long journey, and we have stayed the course. As we get ready for 2012, I felt it was important to send a strong message. In acquiring these shares, I am standing shoulder to shoulder with our more than 6300 stockholders who have shown a belief in our company."
With the recent acquisition of 2,000,000,000 restricted shares in exchange for debt, Atwell and his affiliates now own 4,272,126,487 shares of restricted common stock.
"This is not a race, it's a marathon," Atwell added. "Once the market fully understands where we have been, where we are now, and where we are going next, we believe it will reflect the true, long term value of the Company. Our focus remains, as it always has been, on the growth of the Company and the implementation of our business model."
ABOUT CAMELOT ENTERTAINMENT
Camelot Entertainment Group, Inc. (www.camelotent.com ) is a US publicly traded company (OTC:CMGR) with four divisions: Camelot Film Group, Camelot Distribution Group and its genre division, DarKnight Pictures, 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. Camelot is a member of the Independent Film & Television Alliance (IFTA).
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings.
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.