Planned Acquisitions Drive Camelot Authorization Increase
22 Dezembro 2008 - 12:30PM
PR Newswire (US)
Potential Deal Terms, Stock Price Dictate Action ALISO VIEJO,
Calif., Dec. 22 /PRNewswire-FirstCall/ -- Camelot Entertainment
Group, Inc. (OTC Bulletin Board: CMLT; "Camelot") announced today
that its decision to increase the amount of authorized shares to an
eventual 3,000,000,000 was driven in part by anticipated terms and
conditions of the company's planned acquisitions. In addition, the
current stock price was a major factor as the company continues to
negotiate the transactions. The company had originally planned to
limit the increase to 850,000,000 shares. While the company does
not expect to see its common stock issuance come close to
approaching the revised authorized, it wanted to make sure it had
enough authorized shares to complete the acquisitions and meet
current and future contractual obligations. About Camelot
Entertainment Group, Inc.: Camelot Entertainment Group, Inc. is a
US publicly traded company (symbol "CMLT") with three major
divisions: Camelot Film Group, Camelot Studio Group and Camelot
Production Services Group. Camelot is building a different kind of
motion picture studio infrastructure by redefining the development,
financing, production, and distribution process. Creating a world
where filmmaking dreams come true, Camelot integrates early studio
models, education, new technologies and fiscal responsibility to
acquire, develop, finance, produce, market and distribute high
quality commercial motion pictures, television and digital media.
For general information about Camelot Entertainment Group, Inc.,
please visit the Company's web site at
http://www.camelotfilms.com/. NOTES ABOUT FORWARD-LOOKING
STATEMENTS Except for any historical information contained herein,
the matters discussed in this press release contain forward-looking
statements that involve risks and uncertainties, including those
described in the Company's Securities and Exchange Commission
Reports and Filings. Certain Statements contained in this release
that are not historical facts constitute forward-looking
statements, within the meaning of the Private Securities Litigation
Reform Act of 1995, and are intended to be covered by the safe
harbors created by that Act. Reliance should not be placed on
forward-looking statements because they involve unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements to differ materially from those
expressed or implied. Forward looking statements may be identified
by words such as estimates, anticipates, projects, plans, expects,
intends, believes, should and similar expressions and by the
context in which they are used. Such statements are based upon
current expectations of the Company and speak only as of the date
made. The Company undertakes no obligation to update any
forward-looking statements to reflect events or circumstances after
the date on which they are made. DATASOURCE: Camelot Entertainment
Group, Inc. CONTACT: Investor Relations of Camelot Entertainment
Group, Inc., +1- 949-334-2950 Web site:
http://www.camelotfilms.com/
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