VANCOUVER, British Columbia, Oct. 22, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – The Wonderfilm Media Corporation ("Wonderfilm" or the "Company") (WNDR.V) (WDRFF), a producer of high-quality feature films and episodic television with international appeal, today announces the co-marketing of a third-party, USD$50 million (C$65.9 million) asset-backed debt facility (“Facility”) designed to escalate the pace of the Company’s revenue and increase overall production efficiency.
The Facility will be an independent, U.S.-based limited liability corporation (“LLC”) that would exclusively support and be secured against specific future Wonderfilm movie productions. The Facility provides Wonderfilm the immediate advantage of accelerated green-lighting and scheduling of production and delivery of its film and television slate, and the potential of rapid revenue-generation and production by cash flowing all pre-sale movie contracts, as well as finances various levels of government tax credits and tax incentives.
“Wonderfilm continues its exciting growth phase with access to funds that will greatly streamline our ability to deliver content to streaming services, theatres and broadcasters around the world. Time is money, and currently we have to undertake a single financing for each and every movie employing a paperwork and approval process that by its nature is long and cumbersome, which negatively impacts our ability to quickly schedule productions. The debt-facility streamlines this procedure, allowing us to schedule film shoots on our terms and on our timetable. The fund provides Wonderfilm a strong strategic advantage in the market,” states Wonderfilm CEO Kirk Shaw.
About Wonderfilm Media Corporation
Wonderfilm is a leading publicly traded entertainment company with offices in Los Angeles & Vancouver [TSXV: WNDR] [OTC: WDRFF]. Wonderfilm’s main business is the production of high-quality feature films & episodic television. Global Content Creation leaders - the Wonderfilm team - has packaged, produced and delivered hundreds of profitable films with proven direct access to Academy Award Quality films and upside. For more information, visit the company’s website at www.Wonderfilm.com.
Neither the TSX Venture Exchange Inc. (“Exchange”) nor its regulation services provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements as defined by applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend," statements that an action or event "may," "might," "could," "should," or "will" be taken or occur, or other similar expressions. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Wonderfilm’s control and Wonderfilm’s actual results could well differ materially from those stated or implied in forward-looking statements due to many various factors. Although Wonderfilm believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward-looking statements. All such reflect the date made only. Wonderfilm undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further details, please see the Company’s documents filed on the System for Electronic Document Analysis and Retrieval at www.sedar.com.
Kirin Smith, President
Phone: (646) 863-6519