RegalWorks Closes Financing for First Feature Film; Expands Executive Team Jake's Run expected to commence production in April 2014
SANTA MONICA, Calif., Feb. 3, 2014 /PRNewswire/ -- RegalWorks Media, Inc. (OTCBB: RWMI) ("RegalWorks" or "the Company") today announced the closing of its financing for Jake's Run, the Company's first feature film production. The Company also added two key members to its executive management team. Below is a summary:
- Completed financing for "Jake's Run" - The inspirational film, which is based on the true-life events of ESPN ESPY Award winner Jake Porter, will follow the Company's model of producing high quality films at a reasonable budget and maximizing the cash flows through multiple revenue sources. Casting is under way in preparation to commence production in April 2014. Studio distribution for the film is in process and expected to be secured by the end of February 2014.
- Added Ken Herfurth to its leadership team as Vice President of Business Development. With over 20 years of management and leadership expertise, including seven years with a Fortune 100 company, Mr. Herfurth adds breadth and depth to the management team. His initial focus has been identifying potential acquisitions and conducting due diligence. After serving in this capacity as a consultant for five months, Mr. Herfurth surfaced several potential acquisitions and has been brought on the team to help close one or more of these transactions in Q1.
- Added Bill Friday, CFA, to its leadership team as Vice President of Finance and Operations. Mr. Friday has over twenty-five years of successful experience in international banking and finance with stints at both Wachovia Bank and Grosvenor Park Media that included work in film and entertainment. In his career he has acted as arranger or co-arranger on over 40 billion USD in syndicated facilities. Mr. Friday has been serving as a consultant for the past six months supporting CFO, Marcia Allen, in various corporate finance matters but his primary focus has been on raising capital for the Company's films, film funds, and acquisitions. Mr. Friday has recently been hired full-time to lead the Company's various financing efforts as the RegalWorks seeks to complete the financing for its first three films and several acquisitions targeted to close in Q1.
"We are excited with our progress in getting the financing for our first film completed, having two more nearing completion, and lining up several strategic acquisitions in a relatively short amount of time," explained Dane West, the RegalWorks Chairman & CEO. "Having Mr. Herfurth and Mr. Friday now as officers of the Company will provide the kind of expertise and concentrated focus it will take to seize these various opportunities in an accelerated timeframe."
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.
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SOURCE RegalWorks Media, Inc.