DEL MAR, Dec. 22, 2005 (PRIMEZONE) -- Pacificap Entertainment Holdings, Inc. (OTCBB:PFEH) (www.pacificapentertainment.com) is pleased to announce it has entered into an agreement with Collectible Concepts Group, Inc. (OTCBB:CCGI) to sell its nostalgic sports library as well as its vintage cartoon and classic film collections.
Collectible Concepts Group, Inc. develops and markets unique licensed entertainment, sports and collectible merchandise for specialty mass retail and on line distribution.
Ed Litwak, President of Pacificap, stated, "This sale will bring us revenue in the first quarter of '06 and allows us to concentrate on our film financing business which is developing rapidly. Our first film, 'American Cannibal,' should be finished by the beginning of January and we expect to be selling rights soon for theatrical, overseas, TV and cable in the first quarter of '06."
The statements made by Pacificap Entertainment Holdings, Inc. (the Company) may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe the company's future plans, projections, strategies and expectations, and are based on assumptions and involve a number or risks and uncertainties, many of which are beyond the control of Pacificap Entertainment Holdings, Inc. Actual results could differ materially from those projected due to changes in interest rates, market competition, changes in the local and national economies and various other factors. The Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events. Please refer to the Company's filings with SEC for additional information regarding risks and uncertainties listed from time to time in such SEC reports. Copies of those filings are available through the SEC's electronic data gathering analysis and retrieval system.