VGTL VGTel Inc (CE)

VGTel Awards K2 Communications Distribution Rights for New 4K 3D Wing-Suit Flyer Film Featuring Joby Ogwyn

NEW YORK, NY--(Marketwired - June 18, 2014) - Grand Schema Entertainment and its parent company VGTel, Inc. - 360entertainmentandproductions.com (OTCQB: VGTL), announced today that Los Angeles-based film distributor K2 Communications was awarded worldwide distribution rights for a Giant Screen 3D documentary film about high altitude climber and wing-suit explorer Joby Ogwyn.

VGTel recently formed Grand Schema Entertainment ("GSE") with the New York-based film studio Grand Schema NYC to privately fund and produce independent films. VGTel's CEO Greg Wells stated, "As we grow VGTel and implement our global growth initiatives in new media and entertainment, we are looking for partners that are best in class in their respective industries. We chose to work with K2 Communications because it is one of the world's leading distributors for IMAX® and Giant Screen films." 

The currently untitled wing-suit documentary will be directed by GSE's Christopher J. Scott and will take viewers along with Ogwyn as he pursues his quest to be the first human being to base jump and fly in all seven continents. "The culmination of the expeditions across seven continents to some of the highest and most dangerous places on earth will truly be one of the greatest human feats ever captured on film," said Scott.

K2 represents a large catalog of 3D, 4K and Full Dome films including such blockbuster titles such as the Ultimate Wave Tahiti featuring eleven-time world champion surfer Kelly Slater. "We're very excited to bring wing-suit flyers to museum audiences worldwide. This film has all the elements of a winner in our industry -- the science of human flight, spectacular settings, and man's passion for travel and adventure," said Mark Kresser President of K2 Communications.

Wing-suit flyers will be produced in 3D and 2D for museums, science centers and other specialty theaters. As GSE's first major project, VGTel executives are collaborating on the production and will earn a percentage of revenue from the worldwide distribution rights. 

Already in production, the film is slated for a worldwide release in March 2015 and will also be released in all ancillary media including Ultra HD (4K) and HD TV, VOD, Blu Ray, download-to-own, streaming and other platforms. Former member of The Scorpions, Ralph Rieckermann, will compose an original score for the movie.

About K2 Communications: K2 Communications is one of the world's leading studios for IMAX® and other Giant Screen films exhibited in museums, science centers and other specialty theaters. Since entering the industry in 1998, K2 has served as an Executive Producer and/or Distributor of some of the most successful films in the industry. 

About VGTel, Inc.  VGTel, Inc. is a multi-platform company offering products and support in the entertainment industry and is focused on a strategy of growing and building business units through investments and acquisitions. For further information, go to www.360entertainmentandproductions.com.

Safe Harbor Statement The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts, which address the Company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement. An investment in our common stock involves a significant degree of risk. You should not invest in our common stock unless you can afford to lose your entire investment. You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock. If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our Company.

Forward-Looking Statements This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company's business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as "will," "expect," "anticipate," or "may," or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in the Company's filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contact James Humann (407) 271-5574Investor ContactGreg Wells (917) 817-9952VGTel, Inc. dba 360 Entertainment & Productions Phone: (845) 368-1011