SOURCE: Seven Arts Entertainment Inc.
LOS ANGELES, CA--(Marketwire - Aug 14, 2012) - Seven Arts Entertainment Inc. (NASDAQ: SAPX) ("Seven Arts" or the "Company") announced today that its affiliate, Seven Arts Filmed Entertainment Louisiana LLC ("SAFELA"), has entered into an agreement with the producers of a new motion picture currently shooting in New Mexico entitled "Sweetwater" to provide editing facilities at its property at 807 Esplanade Avenue in New Orleans, Louisiana (the "Property"). The editor of "Sweetwater" has already begun work and is expected to continue through the fall until completion of the picture in December. Executives from SAFELA are in discussions with the producers regarding a second agreement to provide sound editorial and mixing services on "Sweetwater" and expect to complete that agreement shortly. Seven Arts' recent acquisition, "Schism," will also use the Property for sound editorial and mixing services later this year.
As has been previously announced, the Company intends to operate a full-service production and post-production facility at the Property through SAFELA. The Company expects to commence full operations at the Property next month for both its own productions and third-party productions filming in Louisiana under Louisiana's successful film investment tax credit provisions.
CEO Peter Hoffman stated: "We are pleased that the talented team behind the independent production 'Sweetwater' has chosen our facility for their post-production work. We expect this will be the first of many productions in our new, spectacular facility."
About Seven Arts Entertainment Inc.:
Seven Arts Entertainment Inc. is the successor to Seven Arts Pictures Plc, which was founded in 2002 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production and licensing of theatrical motion pictures for exhibition in domestic (i.e., the United States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of media, including home video and pay and free television.
Cautionary Information Regarding Forward-Looking Statements.
Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from the anticipated. The information contained in this release is as of August 14, 2012. Seven Arts assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.