Amcomri Entertainment Inc. Reports Trinity Third Quarter 2021 Results

Vancouver, British Columbia--(Newsfile Corp. - February 3, 2022) - Amcomri Entertainment Inc.(NEO: AMEN) (FSE: 25Y0)  ("Amcomri" or the "Company") today announced the financial results of Trinity Pictures Distribution Limited ("Trinity") for the nine-month period ended September 30, 2021.

Results for the nine month period ended September 30, 2021

The following table sets out selected historical financial information for Trinity for the nine month period ended September 30, 2021. Such information is derived from and should be read in conjunction with the unaudited consolidated financial statements of Trinity for the nine months ended September 30, 2021, which have been filed under the Company's profile on SEDAR at www.sedar.com.

Notes:
(1) Amounts have been converted from British Pounds Sterling at a rate of £1.00 to C$1.70.
(2) EBITDA is a non-IFRS measures. See Cautionary Note Regarding Non-IFRS Measures.

During the first three quarters of 2021, Trinity achieved a significant increase in both sales and profit year-over-year. Total revenues before royalties and sales commissions increased by 447% to $24,597,927 for the nine month period ended September 30, 2021 (9 months ended September 30, 2020 - $5,497,261) while revenues after royalties and sales commissions increased 230% to $9,961,694 for the period (9 months ended September 30, 2020 - $4,323,309).

The COVID-19 restrictions imposed in many of the markets in which Trinity and its subsidiaries operate resulted in an increase in the consumption of Trinity's productions across a number of digital platforms. Amcomri anticipates that this trend will continue and that the introduction of emerging new delivery propositions will further enhance consumption of digital content, increasing the market potential for the Company.

Earnings before interest, tax, exceptional administrative expenses, depreciation and amortisation and minority interests during the nine months ended September 30, 2021 amounted to $7,090,447 (9 months ended September 30, 2020 - $2,167,211).

101 Films Limited, Abacus Media Rights Limited and 101 International Limited all contributed significantly to the increased sales and profits achieved in the nine months ended September 30, 2021. The Company will continue to review the carrying value of Trinity's library bi-annually and impair where necessary. To date a $170,000 provision has been taken (9 months ended September 30, 2020 - Nil). Management believe this will increase significantly following a review in January 2022 but continue to forecast EBITDA of $8,000,000, Profit before Tax of $5,440,000 and Net Income of $4,420,000 for the year ended 31 December 2021.

"This quarter's vastly improved results were made possible by the exploitation of our ever-expanding libraries of movie, TV and documentary content and the increase in consumer demand for digital content across all platforms," said Paul McGowan, Amcomri's Chairman. "We have completed shooting on five feature films during the first nine months of the year and these have further enhanced our content libraries alongside a number of significant rights acquisitions from independent producers. We look forward to marking a record-breaking year for the company."

"The very strong customer response to our 2020 launch of both Abacus Media Rights Limited and 101 International Limited drove enhanced growth in revenue and earnings in the first 9 months of 2021. We continue to acquire both individual titles and more extensive content libraries through our existing relationships with producers to drive further growth into the future," said Larry Howard, Amcomri's Chief Financial Officer.

About Amcomri Entertainment Inc.

Amcomri Entertainment Inc. (NEO: AMEN) provides a global distribution capability for independent movie, documentary and TV series producers as well as its own productions. Exploiting a network of distribution channels around the world, Amcomri's companies deliver a premium, transparent and trustworthy route to market. With decades of experience across all the key media markets, the Amcomri team is fast becoming the go-to team for independent producers seeking the widest possible audience for their productions. Amcomri's network is built on strong, trustworthy partners. Arranging strong pre-sale partners in the major markets, the teams can often provide the assurance that lenders need in order to provide production finance.

The Amcomri Entertainment Inc. group of companies includes 101 Films, 101 Films International, Hollywood Classics International, Amcomri Productions, Appreciated Media Global and the documentary, drama and non-fiction series focused Abacus Media Rights.

For further information regarding Amcomri, see Amcomri's disclosure documents on SEDAR at www.sedar.com and Amcomri's website at www.amcomrientertainmentinc.com for more.

For more information, please contact:

Larry Howard,
Chief Financial Officer
Email: larry.howard@amcomri.com
Phone: +353-87-686-8255

Cautionary Note Regarding Non-IFRS Measures

This news release refers to certain financial performance measures that are not defined by and do not have a standardized meaning under International Financial Reporting Standards (termed "Non-IFRS measures"). Non-IFRS measures are used by management to assess the financial and operational performance of Trinity. The Company believes that these Non-IFRS measures, in addition to conventional measures prepared in accordance with International Financial Reporting Standard, enable investors to evaluate Trinity's operating results, underlying performance and prospects in a similar manner to the Company's management. As there are no standardized methods of calculating these Non-IFRS measures, Trinity's approach may differ from those used by others, and accordingly, the use of these measures may not be directly comparable. Accordingly, these Non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with International Financial Reporting Standards.

Trinity defines EBITDA as earnings before interest tax depreciation and amortisation. EBITDA is intended to provide a proxy for Trinity's operating cash flow and is widely used by industry analysts to compare companies:

 Note: Amounts have been converted from British Pounds Sterling at a rate of £1.00 to C$1.70.

Forward-looking statements

This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions.

Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets. These forward-looking statements may be affected by risks and uncertainties in the business of the Company and general market conditions, including COVID-19.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.

Investors are cautioned that, trading in the securities of the Company should be considered highly speculative. For a more detailed discussion such risks and uncertainties, please see the section entitled "Risk Factors" in the Company's management information circular dated for November 18, 2021 and available under the Company's profile on SEDAR at www.sedar.com.

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