BEVERLY HILLS, Calif., Dec. 27, 2017 (GLOBE NEWSWIRE) -- December 27th, 2017 - Modern Cinema Group, Inc. (OTCPK:MOCI) is proud to announce the signing of an agreement to co-finance the animated movie “Panda vs. Aliens”, executive produced by Marvel Comics icon, Stan Lee.
Modern Cinema Group recently signed an agreement with Los Angeles-Beijing Studios to co-finance “Panda vs. Aliens”, executive produced by Stan Lee, the former editor-in-chief of Marvel Comics and now its Chairman Emeritus. Stan Lee is well known as a guest on the popular television show, “The Big Bang Theory” as well as other international motion pictures. In collaboration with several artists, Stan Lee created characters such as Spider Man, the Hulk, The Avengers, Iron Man, Thor and others; all of these forming the basis for Hollywood blockbusters where Stan Lee still performs cameo appearances.
Modern Cinema Group will provide financing for “Panda vs. Aliens” by way of its new Media Exchange. The Media Exchange allows producers, video distributors and speculators the opportunity to buy and sell shares of media assets in the same way traders buy and sell “futures” contracts for commodities such as gold, silver and currencies. When profits from motion picture assets are recognized, the exchange’s clearing house function disburses payments directly to shareholder’s brokerage accounts.
“Panda vs. Aliens” is currently in production and is scheduled to be released in theaters during the third quarter of 2018. Also in development is the “Panda vs. Aliens” game which is expected to be co-financed by way of the Media Exchange.
Says Ross Cooper, CEO of Modern Cinema Group, “When we heard the opportunity to co-finance “Panda vs. Aliens”, we responded immediately. Anytime we can co-finance a project developed by Stan Lee’s POW! Entertainment, we consider it an honor.”
Mr. Cooper goes on to say, “Another important aspect of this project is the approval that has been granted by the Chinese Film Co-Production Corporation (CFCC) which means the movie won’t be subject to the Chinese quota system and is therefore allowed access to the entire China market. As China is now the second largest movie market in the world and expected to surpass the United States as the number one market by 2020, such an approval for distribution provides an enormous incentive for our exchange. I’ve been working with Steve Chicorel, COO of Los Angeles Beijing Studios and its Beijing team for years and admire their pioneering work with Chinese Co-Productions. We at Modern Cinema Group looks forward to participating in these global co-productions in 2018 and beyond.”
Says Steve Chicorel, “We’re very supportive of Modern Cinema Group and their new Media Exchange. After tracking their progress we have total confidence in the MCG model and anticipate expanding our IP library thanks to the financial solutions based on the ingenuity of Ross and the MCG team.”
The visionary director of the movie is Sean O’Reilly who is the founder and CEO of Vancouver based Arcana Studios. Distribution will be handled by China Film Group (China), Viva in North America and SC Films for the rest of the world.
Modern Cinema Group based in Beverly Hills, founded in San Diego has spent the last three years designing and patenting new business and technology models that allow both producers and distribution partners to integrate their systems in such a way as to leverage each other’s natural advantages.
Los Angeles-Beijing Studios Inc. (LABS), based in Los Angeles and Beijing is devoted to bridging China & Hollywood culture and creativity to the global entertainment markets, including motion pictures, games and merchandising for its bourgeoning slate of intellectual properties.
FORWARD LOOKING STATEMENT
This press release contains certain “forward‐looking” statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward‐looking statements. The Company, through its management, makes forward‐looking public statements concerning it expected future operations, performance and other developments. Such forward‐looking statements are necessarily estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company’s ability to develop operations, the Company’s ability to consummate and complete the acquisition, the Company’s access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company’s public announcements.
Modern Cinema Group Inc. Website: www.moderncinemagroup.com
Tel: 310-881-5500 E-mail: ross@moderncinemagroup.com