Wonderfilm Delivers 7 Movies With 13 Going Into Production
WATCH "Midas Letter" CEO INTERVIEW of Low-Risk Film Financing
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2019) - The Wonderfilm Media Corporation (TSXV: WNDR) (OTC: WDRFF), ("Wonderfilm" or the "Company") announced its June 30th fiscal year-end production update in which the Company met all goals, developing, financing and producing seven features, including Zombie Tidal Wave for NBC/Universal premiering on SyFy Channel August 17th, Fanatic starring John Travolta hitting theatres August 30th and the Nicolas Cage action feature, Primal in theatres November 8th.
Kirk Shaw, CEO: "It's exciting to have audiences getting the chance to experience our films and to see individual film's revenue streams now starting to kick in as the Company's production slate continues to gain momentum. However, as much as this is a wonderful realization of all our hard work over the past year, I have to caution that corporately Wonderfilm Revenue is recognized only after each film is delivered, which means most of the revenue associated with this year's production won't hit the books until the next fiscal year. But it's great to finally have tangible results to point to."
Currently Wonderfilm has 13 more films in or going into production with six scheduled to be delivered in the first quarter of 2020. In fact, 2020 is shaping up to be a much brighter year with many significant movies and TV Series in our development queue, including eight features already green-lit for shooting, representing $60 million US in production budgets. Most notable among the green-lit features are the horror, Amityville 1974, in theatres October 2020 and the action film, Inside Game starring Tyrese Gibson hitting theatres in the fall of 2020. The Company is also currently developing secured valuable IP rights including the Steve McQueen Story and the book adaptation, Merchant of Death. Additional details on Wonderfilm's expanding 2020 slate will be announced at the Toronto Film Festival in partnership with our new foreign sales division, Wonderfilm Global.
Wonderfilm and Wonderfilm Global are preparing a big splash at this September's TIFF, announcing a premier in conjunction with the festival releasing its official schedule.
The Wonderfilm core producing team of Kirk Shaw, Shaun Redick, Dan Grodnik, Bret Saxson and Jeff Bowler are busy broadening and burnishing the Wonderfilm brand by raising the profile of our films across the industry, attracting "A" list stars to our productions and widening our theatrical releases. The company has found success with a business model of "Low-Risk Film Financing" which CEO Kirk Shaw explains in a recent interview with the Midas Letter which can be viewed at https://midasletter.com/2019/06/the-wonderfilm-media-corp-cvewndr-low-risk-film-financing/.
About Wonderfilm Media
Wonderfilm is a leading publicly traded (TSX Venture Exchange) entertainment company with offices in Beverly Hills, Vancouver, Canada and Seoul, South Korea. Wonderfilm's main business is the production of high-quality feature films and episodic television that offer international appeal through the Company's guiding philosophy of bringing new financing solutions to an entertainment industry increasingly looking for funding and co-production alternatives. Wonderfilm is a producer and distributor only for the projects disclosed. The legal ownership of movie productions is held in a special purpose legal entity held at arm's length to the Company to facilitate for the qualification of various levels of domestic and foreign government tax credit incentives that are customary in the film and production business.
This press release contains forward-looking statements that are subject to substantial risks, uncertainties and assumptions. All statements other than statements of historical fact contained in this press release are forward-looking statements. These statements often include words such as "believe," "expect," "target," "anticipate," "forecast," "intend," "plan," "projects," "seek," "will," "may" or 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.
For further information, please contact:
Kirk Shaw (Chief Executive Officer)
Telephone: (604) 638-4890
Investor Relations for Wonderfilm
Telephone: (860) 908-4133
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46586