ORLANDO, Fla., June 1, 2004 (PRIMEZONE) -- eMax Corporation (Pink Sheets:EMXC) today announced that its partly owned eMax Net, Inc. subsidiary (EMAXNET) has signed a five-year lease with CimLink Real Estate Services, LLC for a 25,000 square foot multiplex theater one block off International Drive and within two miles of Universal Studios, Orlando.
Upon completion of improvements the facility will consist of 10,000 square feet of corporate office and production space, 2,000 square feet for network operations and 3,000 square feet of retail/lobby space in addition to five 180-seat theaters and one 360-seat theater to be jointly used for live studio audience tapings, production sound stages and live entertainment venues. EMAXNET is currently conferring with a local engineering firm specializing in production facilities to obtain drawings and permits for site improvements, network construction and the installation of several video and music editing suites. Permitting and construction of corporate, networking and broadcast improvements are anticipated to take six to twelve months to complete. Use of theaters and sound stages for live entertainment and production taping is anticipated by August 1, 2004. EMAXNET will use this facility as its corporate offices and a venue for the development, production and delivery of a series of family oriented game shows, informational and entertainment programming it currently owns rights to in addition to the leasing of sound stage and corporate meeting facilities to third parties. EMAXNET plans to generate over $500,000 in gross sales the first year of operations.
EMAXNET is building a worldwide digital and broadcast multimedia conglomerate through mergers and acquisitions to launch a twenty-four hour broadcast network showcasing all family valued entertainment and licensing programming to satellite and cable broadcast networks directly competing with the major networks. The company is comprised of four technology driven divisions (eMax Music, eMax Studios, eMax TV Group and eMax Software Group) dedicated to the redefinition of the artists' role in the entertainment industry through cooperative acquisition, development, production, publication, distribution and broadcast of quality audio and video entertainment.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward- looking statements involve risks and uncertainties.