Medient Studios Appoints General Contractor for Studioplex
March 21 2014 - 9:00AM
Marketwired
Medient Studios Appoints General Contractor for Studioplex
EFFINGHAM COUNTY, GA--(Marketwired - Mar 21, 2014) - Medient
Studios (OTCQB: MDNT) announced today that Shore Development &
Construction LLC has been appointed as the general contractor for
the development and construction of the Medient Studioplex in
Effingham County, Georgia. The project which will comprise four
phases will include 2 million square feet of sound stages, offices,
outdoor entertainment venues and onsite lodging and housing. The
construction of the Studioplex will utilize the cutting edge TAG
wall and roofing systems designed and manufactured by Titan Atlas
in Charleston, South Carolina.
Medient Chairman, Manu Kumaran stated "We have considered some
of the world's largest construction companies to build the
Studioplex. TAG technology is green, represents a quantum leap in
cost and time efficiencies in construction and is supremely robust
-- capable of withstanding over 300mph winds, 9.1 Richter scale
earthquakes and is entirely fire resistant. Overall, we expect
utilizing the TAG systems to result in a 36% reduction in
construction costs, and a 30% reduction in construction time. I am
happy and proud to announce this association."
"We look forward to working with Manu and his team to create a
truly sustainable live-work community," stated Jeremy Blackburn,
President of Shore Development and Construction as well as CEO of
Titan Atlas Global. He added "Medient has significant commitments
from production and film companies from around the world, anxious
to take advantage of not only the attractive film and entertainment
business climate in Georgia, but in particular the Medient
Studioplex, which will be the most technologically advanced Studio
ever built."
About Medient Studios Medient Studios, Inc. (OTCQB: MDNT)
('Medient') (www.medient.com) is an entertainment content creation
company with a strong presence in North America, Europe and India.
Medient's management team has approximately 150 years of experience
in the motion picture industry and is responsible for producing
and/or financing over 250 movies. Medient is realigning the content
creation process to enable efficiencies of scale and eliminate
process waste by building a fully integrated movie and electronic
game production facility as part of its Studioplex on a 1,550-acre
property in Effingham County, Georgia. Once operational this
production facility will be the largest of its kind in the United
States.
Safe Harbor Statement The Private Securities Litigation Reform
Act of 1995 provides a "safe harbor" for forward-looking
statements. Certain information included in this press release
contains statements that are forward-looking, such as statements
related to the future anticipated direction of the industry, plans
for future expansion, various business development activities,
planned or required capital expenditures, future funding sources,
anticipated sales growth, and potential contracts. Such
forward-looking information involves important risks and
uncertainties that could significantly affect anticipated results
in the future and, accordingly, such results may differ from those
expressed in any forward-looking statements made by, or on behalf
of, the company. These risks and uncertainties include, but are not
limited to, those relating to development and expansion activities,
dependence on existing management, financing activities, domestic
and global economic conditions, and other risks and uncertainties
described in the Company's periodic filings with the Securities and
Exchange Commission.
Contact: Investor Relations: David Waldman or Natalya Rudman
Crescendo Communications, LLC Phone: +1 (212) 671-1020 Ext. 304
Email: mdnt@crescendo-ir.com http://www.crescendo-ir.com/