BEVERLY HILLS, Calif., Nov. 30, 2015 /PRNewswire/ -- Modern Cinema Group Inc. (OTCPK: MOCI) is proud to announce the signing of multiple contracts with Beijing's Jiahe Shiji Movie & Television Company to co-finance its first movie, Five Violent Men, a highly entertaining and relevant movie written by Dale Launer. According to the deal, Jiahe will fund $22 million for production of the movie and will own the distribution rights in China. Matching funds have also been negotiated with a fund based in Europe. Participation from large cable television and satellite operators is expected as well. Therefore, the total production budget to be in the range of $45 - $50 million.
Ross Cooper, CEO of Modern Cinema Group says. "This co-production with Jiahe is the culmination of many months of planning and negotiation that will allow for a steady flow of movies to be co-produced between China and Hollywood. Our first movie, Five Violent Men is expected to establish an innovative model that not only works for us, but for other studios and production companies as well."
Industry Expert and former Paramount executive, Ajay Dugar says, "Modern Cinema Group has spent its formative years developing new avenues for raising the money needed for production financing. It's good to see these efforts come together at a time when its first movie is going into pre-production."
Principal photography for Five Violent Men will start on or before May 1st, 2016. Parts of the movie to be filmed in the United States, however the majority to be filmed in selected foreign countries.
Jiahe has produced and distributed many movies in East Asia over the past 10 years, such as:
"Bounty Hunter", "Deep Breath", "Days without Love", "Woman at the Field", "Produced by a Star", "Mom Learns to Drive", "Red Clay Chamber", "Weiliang Pearl", "Children in the Empty House", "Watermelon is Round", "Bird in the Skyline".
This is Jiahe's first collaboration with a studio based in Hollywood for the purposes of co-producing and co-distributing important Hollywood action movies with established international movie stars. Five Violent Men is a highly plotted action movie with strong characters and dark humor.
Modern Cinema Group based in Beverly Hills, founded in San Diego has spent the last three years designing and patenting a new model that allows both studios and operators to integrate their systems to leverage each other's natural advantages. Plans for an advanced international distribution network are in the works as well.
FORWARD LOOKING STATEMENT
This press release contains certain "forwardlooking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forwardlooking statements. The Company, through its management, makes forwardlooking public statements concerning it expected future operations, performance and other developments. Such forwardlooking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.
SOURCE Modern Cinema Group Inc.