DEL MAR, Calif., June 22, 2004 (PRIMEZONE) -- Pacificap Entertainment Holdings, Inc. (OTCBB:PFEH) will now be involved in two areas of the entertainment industry. Located in Beverly Hills, California, Pacificap is a movie financing company, and is about to join the ever growing cable television industry.
The company currently has a number of motion pictures ready for production and filming. All films will feature 'A' list performers that should generate the necessary publicity and interest. Some of these pictures are remakes of old cinema classics, which will compliment the original work that is being produced.
To facilitate the financing and production of these pictures, Pacificap has managed to secure a $450 million fund. The objective being, the ability to finance films ranging from $15 million up to $100 million.
Total production and financing fees are generated from each film the company finances, and are not contingent on the films' box office success. That said, in addition to their up front fees, Pacificap will also receives a sizable percentage of the revenue on the back end.
Along with the film projects, Pacificap is still on schedule with its cable television boxing channel. The channel is scheduled to air seven days a week and will have new and innovative boxing programming, showcasing great champions of past generations to go with live fights of today.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.