Construction Begins on Medient Studioplex Property
May 21 2014 - 8:30AM
Marketwired
Construction Begins on Medient Studioplex Property
EFFINGHAM COUNTY, GA--(Marketwired - May 21, 2014) - Medient
Studios, Inc. (OTCQB: MDNT) ('Medient') announced the commencement
of drilling for the fresh water well. The well is expected to be
operational within 280 days.
The existing 155 foot tall water tower can hold up to 500,000
gallons of water. The new well is currently permitted to draw up to
150,000 gallons per day. The well is capable of drawing over 2
million gallons a day.
A locally owned business, PINCO, was awarded the drilling
contract. PINCO specializes in water and sewer infrastructure
construction.
John Henry of the Effingham County Industrial Development
Authority stated, "Drilling this well should allow the studios to
get up and running quickly now."
Manu Kumaran, Chairman of the Board of Medient, stated, "Water
is the fundamental prerequisite for all other elements of the
construction process. We expect to commence work on the roads in
the next few days as well."
The company had released Activity Guidance Estimates in April
and expects construction to stay on schedule.
About Medient
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 1,560-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.
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/