SANTA MONICA, Calif.,
Feb. 6, 2014 /PRNewswire/
-- RegalWorks Media, Inc. (OTCBB: RWMI) ("RegalWorks" or
"the Company") today announced the execution of a binding Letter of
Intent ("LOI") to acquire Working Element, a transmedia production
company. RegalWorks expects the transaction to close by
March 2014. Terms of the deal were
not disclosed.
Led by President Darren Thomas,
Working Element has assembled a strong and recognizable
Intellectual Property portfolio through partnership agreements with
global media companies, including MGM, Random House, and CBS. Among
Working Element's incredible 44-title portfolio is Brian Jacques' fantasy novel series "Redwall,"
which has sold over 30 million copies worldwide, as well as digital
and interactive rights to such high-profile brands as "Star Trek"
and "Stargate" and others to be announced at a later date.
In 2013 Working Element wrapped development on the first two
episodes of "Stargate SG-1: Unleashed." Based on MGM's long
running television series "Stargate SG-1," the episodic adventure
game for mobile devices reunites original cast members Richard Dean Anderson, Michael Shanks, Amanda
Tapping, and Christopher
Judge. Marketing campaigns for the episodes will begin
following the closing of the transaction with RegalWorks.
"Working Element brings revenue generating media assets that
increase shareholder value," explained Dane
West, the RegalWorks Chairman & CEO. "Their product
management approach to transmedia production is a strong fit with
our own model, a critical consideration as we add complementary
assets and skillsets we can easily integrate. Expanding into
video game and interactive media production augments our current
focus of delivering feature films and is central to executing our
transmedia strategy. When a great opportunity like Working
Element comes along, it allows us to execute more elements of our
core business strategy."
"The transaction with RegalWorks will bring us additional
capital and expertise to seize the many business opportunities we
have identified over the past several years," states Darren Thomas, President of Working Element. "We
could not be more excited about joining their team to accelerate
the timing and maximize the revenue potential from each of our
properties."
About RegalWorks Media, Inc.
RegalWorks is a publicly traded, independent multimedia studio
led by a highly regarded team of media and business executives. The
initial focus of the Company is feature film production that
matches worldwide audiences with stories that resonate. RegalWorks'
slate of films and projects in the pipeline include projects with
some of Hollywood's leading
producers and directors and internationally bankable casts. The
Company also intends to complete several strategic acquisitions in
the area of media production for film, TV, games, and online, as
well as the Internet and mobile advertising and marketing sectors
to provide additional distribution, marketing channels and
trans-media formats to further leverage the content the Company
produces. For more information please visit
www.regalworks.com.
Safe Harbor Statement
This press release contains certain statements that may include
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
often identified by the use of forward-looking terminology such as
"believes," "expects," "anticipate," "optimistic," "intend," "will"
or other similar expressions. The Company's actual results could
differ materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those
discussed in the Company's periodic reports that are filed with the
Securities and Exchange Commission and available on its website at
http://www.sec.gov. All forward-looking statements attributable to
the Company or persons acting on its behalf are expressly qualified
in their entirety by these factors. Other than as required under
applicable securities laws, the Company does not assume a duty to
update these forward-looking statements.
SOURCE RegalWorks Media, Inc.