The merger will propel Alpine into the public market, which we feel will enable Alpine to grow at an accelerated pace and create flexibility in the financial community
Burbank, CA (PRWEB) July 15, 2005 -
Alpine Pictures, Inc. (API) has announced that the company has signed a Letter of Intent to merge with an active public company currently trading.
Completion of the term negotiations is expected to be finalized by the end of the third quarter with a projected final completion of the merger by the close of the fourth quarter. The proposed merger is subject to approval by regulatory agencies and by majority shareholder approval of both companies.
"This is the culmination of a goal that began ten years ago when we started Alpine," said Ryan Carroll, CEO of API. "Placing Alpine into the public market will create an environment that allows for greater creativity and production."
API is a 10 year-old independent production company and foreign sales company specializing in theatrical entertainment product with budgets up to $15 million (USD). These projects will be of strong commercial appeal and will be financed through a combination of pre-sales, production tax subsidies (where applicable) and gap financing. Additionally, finance costs can be augmented by equity investment from third parties, co-productions and joint ventures.
API's strategy is to make commercial, theatrical films that fit within pre-determined budgetary parameters and earn substantial production company fees and/or distribution fees as well as net equity profit participation.
"The merger will propel Alpine into the public market, which we feel will enable Alpine to grow at an accelerated pace and create flexibility in the financial community," said Roland Carroll, President of API. "Our long term goal is to build a strong library of film projects owned by Alpine, and entering the public market should aid in achieving that goal."
The company's latest project is Love Is the Drug, directed by Elliott Lester. It tells the story of five recent high school graduates filled with the verve of youth and the apprehension of the issues that confront them during the summer before college. The film takes a candid look at how desire, excess and truth collide to reshape their lives, and how easily situations spin out of control.
Lizzy Caplan (Mean Girls) stars alongside John Patrick Amedori (The Butterfly Effect), Jenny Wade (Monster-in-Law), Jonathon Trent (Smile), D.J Cotrona ('Skin') and Daryl Hannah (Splash, Steel Magnolias, Kill Bill Volumes 1 & 2). Love is the Drug is currently in post-production and has been submitted to premiere at The Sundance Film Festival where Alpine has previously screened The Convent, distributed by LionsGate. API's film library also includes The Dark Mist, An Angel on Abbey Street, and Lancelot: Guardian of Time, which premiered on HBO.
With the exception of historical information, this news release and accompanying information may include forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those anticipated as a result of various risks. There are numerous factors that could contribute to such differences, therefore such projected events and anticipated results are not warranties or guaranties that such events will occur or that the Company will achieve such results.