IRVINE, Calif., June 13, 2013 /PRNewswire/ -- Camelot
Entertainment Group, Inc. (OTC: CMGR) ("Camelot") announced today
that it has begun ramping up its initial multiple film production
slate of at least 12 independent films. Camelot subsidiaries
Camelot Film Group and Camelot Distribution Group will oversee and
implement production and distribution of the slate. The Company has
been negotiating the acquisition of several properties that will
hopefully be included in the production slate in addition to
several scripts Camelot had previously acquired. Camelot will
continue to develop single films as it works on the production
slate.
The decision to go ahead with the production slate is part of
the Company's rebuilding of its infrastructure, which began this
past week with the retirement of 14 billion shares of its common
stock. The Company decided to retire shares rather than implement a
reverse split of its common stock.
The Company is in the process of making several changes that it
hopes will enable it to take advantage of the rapidly changing
marketplace in the financial sector and in the film industry. The
Company will release additional information on the production
slate, rebuilding efforts and other changes as that information
becomes available.
Further information can be found in Camelot's filings with the
Securities and Exchange Commission at www.sec.gov, at
www.otcmarkets.com and on the Company's website at
www.camelotent.com.
About Camelot Entertainment Group, Inc.: Camelot Entertainment
Group, Inc. is a US publicly traded company (symbol "CMGR") with
three major divisions: Camelot Film Group, including Camelot
Distribution Group, Camelot Studio Group and Camelot Media Services
Group. Camelot is building a different kind of motion picture
studio infrastructure by redefining the development, financing,
production, and distribution process. For information about Camelot
Entertainment Group, Inc., please visit our web site at
www.camelotent.com.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the
matters discussed in this press release contain forward-looking
statements that involve risks and uncertainties, including those
described in our Securities and Exchange Commission Reports and
Filings.
Certain Statements contained in this release that are not
historical facts constitute forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995,
and are intended to be covered by the safe harbors created by that
Act. Reliance should not be placed on forward looking
statements because they involve unknown risks, uncertainties and
other factors which may cause actual results, performance or
achievements to differ materially from those expressed or implied.
Forward looking statements may be identified by words such as
estimates, anticipates, projects, plans, expects, intends,
believes, should and similar expressions and by the context in
which they are used. Such statements are based upon Camelot's
current expectations and speak only as of the date made. The
Company undertakes no obligation to update any forward-looking
statements to reflect events or circumstances after the date on
which they are made.
Contact:
Jonathon
Russo
Camelot Entertainment
stockholders@camelotfilms.com
(772) 919-8747
Media
Contact:
Camelot
Distribution
info@camelotfilms.com
(323) 956-2020
SOURCE Camelot Entertainment Group, Inc.