DEL MAR, Calif., June 30, 2004 (PRIMEZONE) -- Pacificap Entertainment Holdings, Inc. (OTCBB:PFEH) in association with its Canadian partner has signed a co-financing, co-production deal with Sandcastle Entertainment for a new motion picture, "The Beginning of Wisdom."
Based on the original motion picture screenplay, "The Beginning of Wisdom" is scheduled to begin filming in July, on location in Saskatchewan, Canada. Matthew Perry, his father John Perry and Darryl Hannah are included in the list of stars who have signed on to the project. Howard Deutch will direct the film.
Ed Litwak, President of Pacificap Entertainment stated that, "This project is the first of the slate of films scheduled to begin filming in the third quarter, providing expectations for a minimum of two more productions before the end of the calendar year."
Pacificap will receive a production fee in addition to their percentage of profits which will be generated from theatrical, cable and DVD releases.
Pacificap Entertainment Holdings, Inc. is a film finance and media company located in Beverly Hills, CA. The company's revenue is derived from both the financing of filmed entertainment and the production of live broadcast.
Total production and financing fees are generated from each film the company finances and are not solely contingent on the films' box office success.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.
ON BEHALF OF THE BOARD of Pacificap Entertainment Holdings, Inc.