Los Angeles, California, June 12, 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 11, 2015, has made to short term loan of $12,000,000 to Spotlight. The $12,000,000 will be immediately made available to Spotlight upon receipt of a documentary credit by a top 5 U.S. bank. Spotlight Capital Holdings intends to use the funds to set the foundation to execute its business plan which includes obtaining a movie studio so that it will be in the position to start producing the many films projects that Mr. Tierre Turner and other Hollywood actors/producers are interested in bringing to the big screen. Spotlight has set up a distribution and soundtrack model through its Hollywood contacts that will maximize the profits from each film and control the costs, which will enhance the value of the Company and the Company's stock.
Looking to diversify its portfolio, outside of the entertainment arena, Spotlight will also use the funds to acquire an Independent FedEx ground routes currently operating in New Jersey. Prior to receipt of the loan from Zion, Spotlight negotiated this acquisition in anticipation of receiving operating cash from a structured credit facility, previously announced on December 22, 2014, which was closed and announced on June 11, 2015. Aaron C. Johnson, President of Spotlight, stated, "Although we are primarily an entertainment company, we are a holding company looking to increase the company's value by acquiring businesses and making investments that create cash flow for the company. The acquisition of this Independent FedEx ground operation is the first of many Independent FedEx Ground operation acquisitions, which will create a positive cash flow for the company and will reduce the Company's need for credit in the future. Our business model will allow Spotlight to reduce its debt required to meet the Company's goals and create value for the Company by making sound investments and acquisitions that create cash flow for business operations."
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.