London, England (PRWEB) December 03, 2012
Superior Venture Corp. ("Superior" or “the Company”) (OTCQB:SVEN) has offered equity development financing and 20 percent equity production financing to the four winning pitches at the first annual China/Canada Script Competition held at the Whistler Film Festival on November 29, 2012 in Whistler, Canada.
According to Company president Brian Hammond, "We will know for certain in the next few days which projects will accept our financing and which ones will be financed totally by their Chinese partner. Ultimately, the four winning scripts will be financed to an aggregate production budget of up to US $16 million as a result of our efforts."
The competition, organized by Jane Milner, brought together executives from four Chinese film studios and twelve Canadian writer/producer teams in an all day pitching frenzy.
As Milner pointed out, "None of this would have been possible without Ilustrato. They used their connections to convince the four Chinese companies to participate and they used their experience to help set the parameters for choosing the Canadian pitch teams. The fact that seven of the twelve projects received financing offers is a pretty good indication of their knowledge of the Chinese marketplace."
The four Chinese companies – China Film Group, Hairun Pictures, Galloping Horse Production and Wuxi Studios – each picked at least one project they would like to work with.
The Whistler Film Festival was originally backed in the initiative by China Film Group and Telefilm Canada, and received additional financing from BCFilm, the Ontario Media Fund and Ilustrato Pictures. Ilustrato Pictures is a founding member and gold sponsor of the Gateway, which it intends to help build as a pre-imminent North American/Chinese venue for film development projects and financing.
About Superior Venture Corp.
Superior Venture Corp. is a US based public company. Its wholly owned subsidiary, Ilustrato Pictures Limited is an international motion picture development and production company seeking to co-create feature film projects with Chinese film companies. All of its projects are financed, produced and distributed in partnership with domestic Chinese companies. Ilustrato Pictures has developed extensive infrastructure and distribution networks in China –the fastest growing and most dynamic movie market in the world.
For more information see http://www.superiorventurecorp.com
Tel: +44 (0) 207 543 7720
Cautionary Statement Regarding Forward-Looking Information
This press release may contain certain "forward-looking statements" relating to the business of Superior Venture Corp.. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding the advantages of Superior Venture’s products and services, anticipated advantages resulting from the merger, whether funding anticipated from completing the merger will result in successful completion and development of the film development component of the business and its market acceptance, the business strategy, plans and objectives of the Company and Ilustrato Pictures Ltd.; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects", “intended” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results and ultimate corporate actions could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the perception of investors of the newly merged company and their willingness to fund this newly public company, the demand for films and film development, new products and services developed by other companies, market share garnered by competitors, ability to maintain customer and vendor relationships, and those factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov), among other factors. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.