VANCOUVER, Dec. 12, 2017 /CNW/ - Network Media Group Inc.
(TSX: NTE.V) and Network Entertainment Inc. ("Network" or
"the Company") is pleased to announce that the board has
appointed Frank Anderson to succeed
Robert Pirooz as Executive Chairman
of its Board of Directors, effective immediately. Mr. Anderson has
over three decades of experience in the capital markets, including
18 years as an investment adviser and partner at the largest
independent non-bank owned investment firm in Canada, as well as broad experience in the
entertainment industry, working with television and film production
companies, music labels, and talent agencies, among others. Mr.
Anderson will employ his extensive relationships in both the
investment and entertainment sectors to help further expand
Network's development and production activities.
"I was motivated to join forces with Network based on the
exceptional quality of their work, which is a direct result of the
world class production and management team that C.E.O. Derik Murray has assembled since the company's
inception," stated Mr. Anderson, "Network has earned a stellar
global reputation resulting from the consistent commercial and
critical success of its productions, and is now poised to
capitalize on that success by continuing to work with and grow its
roster of industry leading broadcast and distribution partners on
its expanding slate of productions."
"Since joining Network's Board of Directors in July of this
year, Frank's contributions have been extraordinary", adds Network
Founder and C.E.O Derik Murray, "His
deep and robust relationships in both the investment and
entertainment communities have already strengthened the company's
financial position, and resulted in significant relationships with
key players in all areas of the entertainment industry, as well as
bringing in several exciting projects that the company is actively
pursuing."
The Company has allocated 1,000,000 incentive stock options to
Mr. Anderson, exercisable at $0.20
per share for a 5 year term. The stock options are subject to
regulatory approval.
The Company and its board wish to acknowledge Mr. Pirooz for his
contributions during his tenure as Executive Chairman.
About Network Media Group/Network Entertainment
Inc.
Network is focused on becoming one of the world's
leading developers and producers of entertainment properties for
the global marketplace and its worldwide audience. It is the parent
company of Network Entertainment Inc., an established television
and film production company with an award-winning international
reputation. Its productions include the Academy Award shortlisted
feature documentary Facing Ali, as well as
documentaries on the lives of Bruce
Lee, Steve McQueen,
Evel Knievel, Johnny Cash, Chris
Farley (which set all time ratings records for Spike), JFK
Jr. and, most recently, Heath
Ledger. The Company recently received the prestigious
Realscreen Award in 2017 for Non-Fiction – History/Biographical
Series for its documentary
series Facing. Network's past projects and current
productions can be viewed
at www.networkentertainment.ca.
ON BEHALF OF THE BOARD OF DIRECTORS OF
NETWORK
MEDIA GROUP INC.
"Derik A.
Murray"
Derik A. Murray
Chief Executive Officer and Director
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CAUTIONARY STATEMENT ON FORWARD-LOOKING
INFORMATION
Except for historical information contained
herein, this news release contains forward-looking statements that
involve risks and uncertainties, including the Company not
obtaining required TSX Venture Exchange approval of the Transaction
and the Transaction not being completed as proposed or at all.
These statements are necessarily based upon management's
perceptions, beliefs, assumptions and expectations, as well as a
number of specific factors and assumptions that, while considered
reasonable by management of the Company as of the date of such
statements, are inherently subject to significant uncertainties and
contingencies that could result in the forward-looking information
ultimately, perhaps materially, being incorrect. All
forward‐looking information in this news release
involve known and unknown risks, uncertainties and other factors
that are beyond the control of the Company and may cause the actual
results, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward‐looking information. Except as required
pursuant to applicable securities laws, the Company will not update
these forward-looking statements to reflect events or circumstances
after the date hereof.
SOURCE Network Media Group Inc.