Los Angeles, California, June 11, 2015 (GLOBE NEWSWIRE) -- Spotlight Capital Holdings Inc. (pk: SLCH) is pleased to announce that ZION Capital Ventures, pursuant to an agreement executed with Spotlight on June 4, 2015, has received $20,000,000 of fixed income investment-grade bonds into its account. In preparation for the contemplated exchange with Spotlight of the bonds for the convertible note of Spotlight's common stock, that will mature at an agreed upon date. At the maturity date, ZION has the option to convert the note into common shares of Spotlight's stock. Management at Spotlight has authorized the issuance of the convertible note and is currently making all necessary administrative and regulatory preparations for the issuance of the note pursuant to the terms of the agreement with ZION. Both Spotlight and Zion Capital Ventures look forward to fulfilling their obligations under the binding Exchange Agreement signed on June 4, 2015. Once the exchange is completed with Zion Capital Ventures, Spotlight will be financially positioned to implement the roll-out of a variety of projects geared toward significantly enhancing shareholder value while simultaneously expanding the scope of the Company's activities", which will include but is not limited to the acquisition of income producing Companies and assets, (IE- movie studios, music and film catalogs) producing and distributing Movie/Films domestically and abroad.
Safe Harbor Statement- The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control.