Spackman Equities Group Establishes Movie Investment Venture in Korea

Spackman Equities Group Inc. ("SEGI") (TSX VENTURE:SQG) announced today that it
established a wholly-owned subsidiary in Korea, Spackman Entertainment Korea
Inc. ("SEK"), that will specifically invest into the upcoming slate of films
produced by Opus Pictures Co., Ltd. ("Opus") and Zip Cinema Co., Ltd. ("Zip").
Opus and Zip are both Korean movie production subsidiaries of SEGI.


SEGI incorporated SEK with a paid-in-capital of Korean Won 990,000,000 (CAD
880,000), resulting in SEGI owning 198,000 common shares (par value KRW 5,000
per share), or 100%, of SEK.


Through SEK, SEGI plans to selectively make "seed" investments in the upcoming
movie titles produced by Opus and Zip, positioning itself to gain economic
exposure to its subsidiaries' film projects from both an investment perspective
as well as from a production revenue perspective.


Opus and Zip are leading movie production companies in Korea that possess track
records of producing some of the most commercially successful Korean films. Opus
was the producer of the highest grossing Korean movie of 2010, THE MAN FROM
NOWHERE, a KRW 6.75 billion-budget (CAD 6.0 million) action film that sold over
6.28 million tickets at the Korean box office and grossed KRW 47.9 billion (CAD
42.6 million). This year, Zip produced the hit romantic comedy, ALL ABOUT MY
WIFE, a KRW 4.9 billion-budget (CAD 4.4 million) film that sold over 4.58
million tickets at the Korean box office and grossed more than KRW 34.1 billion
(CAD 30.3 million). (Box office data provided by Korea Box Office Information
System).


About Spackman Equities Group Inc.

Spackman Equities Group Inc. ("SEGI") is a diversified investment holding
company that invests into and develops small/medium-sized growth companies that
possess proprietary technologies or industry-specific know-how, primarily in
Asia. The objectives of SEGI are to (i) selectively invest into or acquire
businesses with compelling growth potential at attractive valuations, (ii) build
a diversified portfolio of investments, and (iii) deliver the collective value
derived from the performance of its portfolio of investments to the shareholders
of SEGI. Currently, SEGI's investment portfolio consists of:




--  indirectly-held majority ownership of two leading Korean movie
    production companies, namely, Opus Pictures Co., Ltd. and Zip Cinema
    Co., Ltd., and  
    
--  a 17.92% equity stake in Intech LCD Group Limited, a China-based
    developer and manufacturer of flat panel displays and modules. 



www.spackmanequities.com

About Opus Pictures Co., Ltd.

Opus Pictures Co., Ltd. ("Opus") was established in August 12, 2005 in Korea by
veteran movie producer, Lee Tae Hun. Opus is an independent developer, producer,
and investor of theatrical motion pictures in Korea. Opus is most well-known for
producing the 2010 blockbuster, THE MAN FROM NOWHERE, the biggest box office
success of the year with 6.28 million box office tickets sold domestically and
one of the highest grossing movies in Korean movie history. Opus licenses its
films to ancillary markets including cable, broadcast television, and home
video/DVD. Its movies are distributed and shown throughout Asia.


Opus's production capabilities consist of the originating and financing of
motion pictures, as well as the development of screenplay, actual filming
activities, and the post-filming editing/post-production process. Opus works in
cooperation with Korea's major distribution companies for the release of its
films and selectively participates in its productions as an investor. Opus also
selectively acquires distribution rights to motion pictures produced by third
parties for distribution in theatrical, video and television markets in Korea.


Spackman Equities Group Inc. owns a majority equity interest in Opus through its
entertainment subsidiary, Spackman Entertainment Group Limited.


About Zip Cinema Co., Ltd.

Zip Cinema Co., Ltd. ("Zip") is a Korean movie production firm founded by
renowned film producer Eugene Lee, who was named in 2007 as one of the world's
"10 Producers to Watch" by Variety, the leading Hollywood journal. The company
was incorporated on December 23, 2005 in the Republic of Korea and engages in
the development, production, financing, and distribution of theatrical motion
pictures with a strong commitment to bringing the most original stories to the
big screen from the most innovative Korean filmmakers. From its early days, Zip
has achieved notable critical and box office success with such hits as "VOICE OF
A MURDERER" (2006) which sold 3.25 million tickets at the domestic box office
and "HAPPINESS," a film that premiered at the Toronto International Film
Festival in 2007. More recently, "WOOCHI" (2009), with 6.2 million tickets sold
domestically, became one of the highest grossing movies in Korean movie history
and also achieved significant success in overseas markets. "HAUNTERS" also
achieved over 2.5 million tickets domestically in 2010. Zip's most recent
release, ALL ABOUT MY WIFE opened in Korean theatres on May 17, 2012, and has
sold over 4.58 million tickets domestically, becoming Korea's highest-grossing
romantic comedy of all time, and cementing Zip's industry-wide reputation as a
serial hit-maker. Films produced by Zip are licensed to ancillary markets
including new media, cable, broadcast television, and home video/DVD and its
films are distributed and shown in Korea and internationally. www.zipcine.com.


Spackman Equities Group Inc. owns a majority equity interest in Zip through its
entertainment subsidiary, Spackman Entertainment Group Limited.
Spackman Equities (TSXV:SQG)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024